Strategic Management in Construction

Abstract

The traditional philosophy of management in construction, both in academia and in industry, places great emphasis on the ability to plan and execute projects. In contrast, a similar emphasis on strategic management has received less attention in the construction industry. Although the pressures of project performance can often obscure the broader social, economic, and professional context in which strategic management is undertaken, it is these broad contextual areas that make strategic management an essential issue for construction organizations. Rapidly changing social and technological issues are creating a professional environment that will look very different in the coming decades from that experienced in today's organizations. This paper introduces a study of the current strategic management practices of construction organizations. This paper also introduces the concept of strategic management and the areas that organizations must address to compete in the global marketplace. A summary of an industry survey is documented together with the background research that prompted the investigation of these topics.