Corporate Strategy in Construction
Understanding Today's Theory and Practice
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This book draws together the main elements of strategic management theory and relates them to contemporary construction. It will help students understand what strategic management involves and how it is possible to develop a proactive approach to managing of key resources such as people and technology. The author argues that construction (production), is the logical conclusion of a decision-making process which has resulted in a requirement (need). Other books on strategic management tend to present strategy as being simply a matter of pursuing standard formulae that presents an organisation w...
This book draws together the main elements of strategic management theory and relates them to contemporary construction. It will help students understand what strategic management involves and how it is possible to develop a proactive approach to managing of key resources such as people and technology. The author argues that construction (production), is the logical conclusion of a decision-making process which has resulted in a requirement (need). Other books on strategic management tend to present strategy as being simply a matter of pursuing standard formulae that presents an organisation with the most logical answer - known as prescriptive (planned) theory. However, organisations in contemporary business are increasingly aware that such deterministic methods are at risk from rapid fluctuations in a number of determinants, from private investment to government priorities. A more fluid approach to strategy is needed - known as 'the emergent approach'. This approach requires the organisation to create a structure and culture that enables it to be both nimble and adaptive in its response to change. The book draws useful lessons from other sectors and emphasises the particular nature of construction, especially the factors that have created the present state of the industry. The context in which the industry has traditionally operated - the contracting system - caused many of its current problems and also militated against implementing the sort of strategic change witnessed in other sectors. Through analysis of case studies, the book shows how vital lessons can be learned from elsewhere by benchmarking practices and developing alternative ways of delivering value to clients. A key message will be construction organisations can, using such knowledge, raise their ability to innovate and create sustainable competitive advantage.
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