Agaoglu group of companies is a construction company based in Turkey. The company also operates in the energy and tourism sector. The construction company was established in 1981 and up to now it has managed construct and sell complexes totaling five million sq. meters. The construction company has continued to construct apartments of high quality which has given it a lead in this sector. Using the modern approach of communication and marketing, the company has managed to establish a good customer relation with its customers, a relation that is based on the trust. The tourism sector of the company was started in 1988 where it offers a variety of services to the tourists through its resort hotels which are located in the city ofIstanbul. The company owns the largest complex of tourism in Turkey in addition to some of its most prestigious resort hotels such as ‘my resort’, ‘my village residence’, ‘my city hotel’ among other prestigious hotel in Turkey. Some of the prestigious services the company has continued to offer include golf courses, hotel building, and summer residences among other services.
The Agaoglu group of companies started its operations in the sector of renewable sector in 2007 as a way of responding to increased effects of global warming with the aim of liberalizing the Turkish energy sector. Since 2007, the company has acquired about 700 MW of portfolio of renewable energy. This has been accomplished through 10 projects which are aimed at achieving its target of 1000 MW of renewable energy portfolio by 2015. These projects together with many other have enabled this group of company to be the market leaders in those the areas of operations.
The Agaoglu group of companies has achieved the above mentioned achievements in the past years mainly because of its ability to identify and make use of opportunities when they arise in the market. For instance, in the recent past there has been an increased demand for residential houses in Turkey due to increased population growth. The construction company took the advantage of this market situation and came to provide quality apartments at affordable prices to the customers. The company offer houses that meet all the standards in terms of facilities and other requirements. Currently, from the feedback that have been received from the customers, the company is offering the best services for its customers which include after sale services, credit facilities among other services which has enabled the company to develop customer relation that is build on trust. In addition to increasing demand for residential houses, the company has also taken advantage of the changing economic conditions like 2008 global financial crises and mortgage credit to increase its sale. The company had put in place good control mechanisms in 2008, which made it not to be affected by the global crises. The company used prevailing situation to make more residential sales while many companies were struggling to survive during this time of economic crises. Therefore, the company managed to make more sales of residential houses despite the harsh economic times.
However, the Agaoglu group of companies have not achieved this success on silver platter. There has been many challanges that the company has faced in the course of its operatons ranging from internal challanges to the external challanges. Internal challanges include stablising the company during the time of the global crises. Though the company, had internal mechanisms to control the effects of global crises, its market was affected by this crises as well as its operations where the company had to buy inputs at a higher prices than usual. The costs of operations of the company also went high which which lowered the profitability of the company. The company has also faced external factors such as the bureaucracy barriers in energy and construction sector. For instance, it took long mpany requests to be processed by the authorities under which the company operate which delay the projects of company. This has increased the duration the company take to finish its construction and energy project.
Despite many challanges there are qualities that has helped the company to succeed. There is a good management team with visionary leadership that does not fear to take risks and adjust accordingly to the prevailing market conditions. Good customer relationnship and corporaate social responsibility projects such as building school has given the company a good name in the market. The company has also applied key innovations which has given the company a competitive advantage in the market. For instance several investments projects in the energy sector such as plants for wind power and hydroelectric power. This projects have generated power for the residential houses at a cheaper costs thus improving livesof people. The company has also dedicated its time and resources to help customers in solving all the technical problems.
The company has also worked with other supporting groups in order to achieve its goals. This include different goverment agencies that are facilitating goverment projects such as ministry of energy and ministry of tourisms. This has supported the projects of the company in many ways which have hepled in their accomplishment. The company has also collaborated with other non govermental organisations in developing their energy project which has facilitated their achievement.
The company has succeed because of three main factors which include; effective management which has been able to make good strategies, good customer relationship and ability to work with other stakeholders.
The main challange to the success of the company has been external factors such as global financial crises and bureacratic barriers which has really affected the success of the company.
The company is committed to continue with its high achievement even in future by carrying out several projects such as already planned IPO at the end of this year. The move to give IPO will be a way of strengthening the financial postion of the company as well as giving its customer a chance to share more in the benefits of the company. The company has continued to use large portion of its net profit in research and developmment. For instance the company has planned to use about €1.2 billion on the R&D investment for a period of three years.
The success the Agaoglu group of companies have achieved for the past thirty years in the areas of construction, energy and tourism has proved it to be a market leader in this sectors. Though the company started only on one line of operation thirty years ago, it has expanded it services to other sectors which has enabled it transform the lives of people through provision of quality services. Its unique ability to deal with customers has made it to stand out from many other companies. Thus I recommend Agaoglu group of companies for the Accolade business of the year award.