A Report On The Construction Industry Essay

1759 WordsMay 20, 20158 Pages
Executive Summary The construction industry plays an integral role in the economies by providing infrastructure to all other industries. This report discusses the factors that are pertinent to establishing construction operations in the European market, with a main focus on Prime Constructions Company Ltd. The assessment of the markets is discussed with an entry mode proposed. Moreover, the supply chain the company would need to adopt as well as the innovation strategies and risks therein are also discussed. Introduction Due to the advancing technology and global competition, businesses have been forced to put mechanisms in place to support innovation and research to enable them survive the dynamic business environment. Such factors hold for the global construction business, which is characterized by joint ownership approaches between the industry players and the governments and a strong emphasis on the use of results and speedy dissemination of good practice and information. Moreover, the industry is experiencing a recognition of the product innovation and the importance of process as well as collaborative approaches with other foreign construction companies. Australian construction companies looking to expand internationally can learn from experiences in other countries, which are striving to create private-public partnerships. However, the nature of the construction business remains chiefly oriented towards domestic markets due to material intensity and high labor.
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