Determinants Of Strategic Implementation On Construction Industry : A Case Study Of H Young & Co. Essay

Construction is always demanded because there are always repairs needed or new buildings being constructed. In a city there is more demand for these kind of jobs because there is more people and more buildings than a rural or country area. The total number of jobs for construction in 2014 was 945,400 with a 6% increase for the next 10 years. The estimated employment change for 2024 is 60,400. With these statistics, it shows that the jobs for this particular occupational field is increasing. In 2015, California was the state that had the biggest job increase in construction. California added 59,300 jobs which increased the total construction jobs by 8.6%. Other states that have also increased construction jobs are Florida, New York, and Hawaii. This proves the need for construction is greater in the areas with dense population and larger

The fourth step in the strategic process will include the implementation of strategies by forming projects. “The conceptual framework for strategy implementation lacks the structure and discipline found in strategy formulation. Implementation requires action and completing tasks” (Gray, Larson, 2008).

Over the past few years, the construction industry has been changing dramatically. One of the most important stages in the construction management and business management is the planning phase. They share similar two main levels of planning which are the strategic and operational planning. However, business management planning to decide in advance what should be done, and how to do it, when you do and you are done. On the other hand, Construction management strategic planning is to deal with selection on a high level of overall objective of the project, including the scope, procurement methods, schedules and financing options but the planning of operations, including the

There has been a large amount of research into what strategy is, since Michael Porter’s perennial work in the 1980s. Studies done on the execution of strategy have been far less numerous. However, there is one major understanding about the execution of strategy. The execution of strategy is a vital part of success in business. A summary of many myths surrounding various strategic executions will be outlined, along with their subsequent analyses.

Construction is a highly profitable industry that has the ability to support workers with decent wages.

Dissimilar sources plan altered steps involved in the planning process, but in this case I will discuss on seven steps that are involved in the entire process. The first step is goal setting. This basically involves coming up with the main objectives and goals that the company wishes to establish within a particular period of time. It is a very important section because the company will operate with a view of the goal in mind, if it is not clearly established, and then the business could lose direction along the way. After goal setting, we have development of the planning premises, where the plans are prepared and any underlying conditions defined. This is where there is an assessment of the environment and any constraints or

The construction industry is currently in a state of turmoil – as the economic situation begins to improve, we are finding that the challenges of securing contracts and motivating people throughout the recessionary period are being replaced with different challenges including retaining people, maintaining the business ethos and controlling growth in what remains an incredibly competitive industry. Through recession and as we exit, a strategic approach to business management is key to longevity and sustainability of an organisation. In the context of Read Construction Holdings Ltd (the writer’s organisation), there are significant changes currently underway – a new business plan targeting significant growth over 3 years, new directors and

The identification of the probabilities and possibilities of new entrants is important because of intrusion risks made by them on profitability of existing company’s market share. The construction industry of UK has been affected by the differentiation of products, switching of costs, scale economies and government policies. The skill network report of 2006 to 2010 for construction companies in UK has stated that the output of the construction companies in UK is about 3 percent per year. There are about 2.5 million employees who are expected to join construction companies (www.constructionskills.net).

This report describes the information and analysis of a construction project which I worked back in India. Organization which I worked was a private construction firm. Our company is a well-known construction company in the state. The project which I worked with was a 11 storied residential building apartment construction in Cochin, Kerala, India. Our company was leased the contract work to construct the building as an environment friendly and with good aesthetics. The whole project cost was estimated as 25cr. The materials for the construction and the workmanship were from our company side itself. This project’s client is a major private party in the apartment sellers.

There however are challenges in the industry occasioned by uncertainty on future spending on construction projects by the government. Moreover, the cost of doing business and the ability to increasingly make revenue have created a challenging environment for the construction firms. Therefore stakeholders in the construction industry are concerned with whether the government would increase its spending and whether the public construction projects will be available in the future since less than 10 percent are currently financing their clients.

‘Strategic Management’ is a very complex term as many eminent researchers and scholars have had different views and conclusions on strategy. According to White (2004), “Strategic Management involves both systematically developing an idea together with its implications and testing the empirical validity & usefulness of that idea against the real world.” Thus strategy is not only about planning for future but also about confirming the validity of the hypothesis considered and implementing it successfully. Strategy formation may take various forms such as implicit, explicit or emergent. Implicit strategy is a strategy formed by intuitions of an individual. As per implicit strategists, strategic management is about reading the environment

The construction industry like many other industries has changed and evolved with time. It is the fourth largest contributor to Australia’s GDP and has played a major role in determining economic growth of the country. In terms of employment, the industry has employed 9% of the Australian workforce making it the fourth largest industry (ABS data).

Organizations successful at strategy implementation effectively manage six key supporting factors :     1.  Action Planning

A strategy, according to Robbins and Barnwell (2002, p. 139) is “the adoption of courses of action and the allocation of resources necessary to achieve the organisation’s goals”.

The construction industry much like other industries is dependant with the distribution of “scarce resources” (Drake,1994). Many of its resources known as the factors or production i.e. labour, capital, land etc. are limited (Gregory-Mankiw, 2008), however, wants and desires within the industry are infinite (Myers, 2013). Kishtainy notes that this creates two problems; at any given time, there will be a fixed number of resource, against numerous wants. Sloman 2003 adds that in an effort to rectify this, he argues that we must make choices, in terms of choices within the construction industry Myers suggested that firms need to considered their investments made, how they construct and for whom they construct for.