Company History, Background and products, and services.
Firms operating in different industries face stiff
competition and are compelled to rely on key factors that determine
their success in a specific industry. One such firm is Comfort
Systems USA. It operates in one of the most competitive industries
that include Heating and Air Conditioning Contractors (HVAC) in the
mechanical services also industry. According to IBIS World, the
HVAC contractors industry is growing rapidly at 4.9% annual growth
with an estimated $87.9bn in annual revenues thus theres a need
for firms in this sector to identify their main success factors
that would promote a wider market share (Noordewier, & Lucas,
2020). An increase in per capita disposable income, increased
residential construction including the rising value of
non-residential construction is fueling the growth of HVAC
firms.
Comfort Systems USA is an American HVAC firm based in Houston
Texas. Founded in 1997, Comfort Systems USA is a publicly-traded
company in the New York Stock Exchange under the symbols (NYSE:
FIX) and is considered large enough given it has over 12,000
employees. The firm is located in multiple areas and therefore
enjoys a wider market share due to its 38 operating units in over
86 locations within the U.S. Based in the institutional,
commercial, industrial HVAC markets, Comfort Systems provides
heating, air conditioning, ventilation, and other HVAC services
including installation, maintenance, and overhaul services. Other
than HVAC services, the firm also provides specialized applications
including building automation, fire protection, cooling processes,
piping, and electronic monitoring. As such, Comfort Systems
requires relevant key success factors to successfully maneuver in
the highly competitive HVAC market.
Given the competitive nature of the HVAC market, Comfort
Systems must develop key success factors relative to the mechanical
services industry while also considering the highly volatile nature
of equipment and technology it applies. According to US Census
Bureau, only 36.4% of all construction based firms make it to their
fifth year due to various factors that are critical to the firms
but are often overlooked (Noordewier, & Lucas, 2020). Factors
are the effective management of accounts receivables.
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