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Company Overview Essay

1070 words - 4 pages

The purpose of this paper is to provide an overview of two companies in the housing- industry, Centex Homes and KB Home. The information contained herein was obtained from the organization's annual reports and business intelligence information was obtained from their respective web sites. We will also address social responsibility and ethics of the organizations evident in their annual reports in relation to maximizing shareholder wealth.Since 1950 Centex Homes is said to be the primary business of Centex Corporation, and has been a major contributor to the company's overall growth success for nine consecutive years. Centex is the only homebuilder to rank among the Top 10 on Professional Builder's "Giant 400" list each year since 1968, and is ranked number one in its industry for Fortune magazine's list of "America's Most Admired Companies"(www.centex.com).Centex Homes' primary function is to obtain land including lots, and to build dwellings for a targeted segment of customers who are seeking to purchase single-family detached homes, condominiums and town-homes. Customers included in the targeted range are most often first-time home-buyers, those looking to buy-up, customers with active adult lifestyles, build to custom homes on customer-owned lots, resorts and second homes.The company's home building operations in fiscal year 2005 reached record operating earnings of $1.38 billion, which exceeded 2004 results by 43% (www.centex.com). In addition, during 2005 the company closed in excess of 33,000 homes with an average sales price of $270,000. Furthermore, the company had a backlog of homes at the end of fiscal period 2005 which had been sold to buyers but not yet delivered that that exceeded 2004 results by 21%.Centex Homes' goal is to become one of the top five homebuilders in the nation. Currently the company has achieved a substantial presence in 38 of the Top 50 markets. Furthermore, local market shares have afforded the company the opportunities necessary to achieve the company's potential for growth and improvement. At present, the company owns enough land to sustain its continued successful growth (http://www.centex.com/).According to the company's web-site they are strongly committed to the environment and the well-being of others. Centex Homes regularly works with such groups as Habitat for Humanity and is a leader in the home industry in land conservation efforts. The Centex Legacy Fund helps finance land and water preservation projects across the United States through an initiative with The Conservation Fund, ranked as one of the nation's best charities (http://centexhomes.com/environment.asp). Since 1999, the company has donated more than $5 million to land conservation efforts.The company has also created the Centex Way which is an ethical guide to decision making and business relations. The guide serves as a directive for both leaders and employees of the organization.Listed in Centex Values Drives is the company's commitment to...

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