Application of SWOT Analysis in Turkish Construction Industry

Abstract

Strategic management is a concept that concerns with making decisions and taking corrective actions to achieve long term targets and goals of an organization and is used as an important management technique in construction industry due to its complex and dynamic environment. Thus, every organization in the construction industry should have specific strategies to cope with or take advantages of these changes and plan their strategies in order to obtain sustainable competitive advantage where the competition is very intense. Notably, SWOT analysis became one of the most popular tools for strategic planning in order to decide future actions depending on the analysis of internal and external environment. In this study, with the aim of identifying the internal and external factors in terms of their significance on the Turkish construction industry; the strengths and weakness of Turkish construction industry with the opportunities and threats in national and international markets were examined based on a comprehensive literature review. The result of the study can be used by Turkish construction companies and international companies as well to position themselves in Turkish construction industry and to highlight their current strategic management practice for strategizing in a most correct way.