Abstract
Large construction firms execute management control in preparation for a fast-paced business environment, but small ones are unable to do so. This is because there is no management control model tailored to them. The current study derived Management Performance Evaluation Indicators (MAPEIs) for small construction firms for measuring the management performance of construction firms with 10 or fewer employees, considering the characteristics of small construction firms. MAPEIs consist of BSC (Balanced Scorecard), performance, and the hierarchy and weighted value of KPIs (Key Performance Indicators). After an interview with an expert, based on the management performance indicators of large construction firms, a final hierarchy of small construction firms was constructed through modification and supplementation. The KPIs of the hierarchy were analyzed through a survey using the AHP (Analytic Hierarchy Process) method to finalize MAPEIs for small construction firms in Korea. The final MAPEIs underwent a feasibility evaluation to apply them to real life. It is expected that they can be used as fundamental resources for system development for small construction firm management performance and control. In addition, further studies to resolve the limitations would improve the competitiveness of small construction firms.
Highlights
The Construction and Economy Research Institute of Korea concluded that the construction industry of Korea has officially been in a depression since the second half of 2018 and anticipated that it would likely continue until the early to mid-2020s.They mentioned that it would be necessary to develop management strategies suitable for the period
The current study evaluated management performance to verify the applicability and necessity of Management Performance Evaluation Indicators (MAPEIs)
Most firms in the construction market are small and the impact agement of construction firms in Korea, and this has a significant impact on management on management performance is tremendous
Summary
The Construction and Economy Research Institute of Korea concluded that the construction industry of Korea has officially been in a depression since the second half of 2018 and anticipated that it would likely continue until the early to mid-2020s. They mentioned that it would be necessary to develop management strategies suitable for the period. The downturn’s impact on the construction industry is greater for smaller firms compared to larger firms. Statistics Korea classified the construction firms in Korea into scales based on the number of full-time employees. The number of firms with fewer than 50 employees was
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