Innovations as a Factor for the Sustainable Functioning of a Construction Company

Abstract

Competitive threats from international and domestic construction companies compel construction industry participants to intensify innovative processes with a view to improving the profitability of construction operations, expanding their offerings and upgrading the quality of their products.The introduction of assorted innovations is thus a way of enhancing the efficiency of construction operations.In terms of development levels, innovations may be classified into global, national, regional and industrywide.A construction company can introduce innovations by:- Consuming or using materials, machinery or equipment;- Making construction products in the form of units, buildings or structures;- Applying products to control corporate organizational structures and construction operations. Focused on technological innovations, this paper identifies those in the heaviest demand, used most frequently in construction operations, exploring the impacts of construction operation innovations on the sustainable functioning of a construction company. The authors propose a research and engineering hypothesis to the effect that the expert assessment method is instrumental in identifying innovations with positive impacts on construction operations, while ensuring the sustainable functioning of a construction company, subject to the correct selection of experts and assessment criteria.