STRATEGIC MANAGEMENT IN CONSTRUCTION INDUSTRY

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 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 than that experienced in today’s organizations. This paper introduces a study of the current strategic management practices of construction organizations. The paper introduces the concept of strategic management and the areas that organizations must address to compete in the global marketplace.

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