Companies In Construction Industry Research Articles

Deconstructing the organizational resilience of construction firms in major emergencies: A text mining analysis of listed construction companies in China

The COVID-19 pandemic has resulted in unprecedented huge losses for construction companies in terms of capital, labor, and project construction, highlighting a significant lack of organizational resilience (OR) within the construction industry. How to improve the OR of construction companies has become the key to resolve the crisis. However, there is a lack of systematic insights into the structure and dimensions of OR, as well as a gap in empirical evidence to explain how construction firms systematically construct OR. Therefore, this paper systematically identifies 19 resilience topics and their language descriptions by mining the resilience-related information in 1572 annual reports and expert interview data of listed companies in the Chinese construction industry during the COVID-19 pandemic, using a combination of the topic model and language model. Following the basic concept of OR, a framework of OR dimensions in the construction firms that integrates actions, resources, and capabilities is developed to uncover the complex resilience characteristics of construction firms. The results show that OR sought by listed companies in the construction industry consists of resilient actions, resilience resources, and resilience capabilities. Resilient actions stem from motivating, restraining, protecting, and exploring actions. The resilience resources include the resource reserves of organization, technology, and knowledge, while the resilience capabilities are dynamic capabilities that integrate prevention, response, adaptation, monitoring, perception, and recovery. The findings not only deconstruct the OR framework for construction companies to cope with crises, but also provide new paths for construction managers to cultivate the OR of companies in practice.

The development of a competency framework for architectural engineering graduates: Perspectives by the construction industry in Indonesia

The discrepancy between competence and real work in engineering graduates can be resolved with cooperation by the construction industry. Therefore, it is necessary to determine the appropriate and required architectural engineering competencies with the current demands and conditions of the construction industry. So this study aims to analyze the determinants of competence and test the competency development model for architectural engineering graduates according to the needs of the construction industry. The research sample method is non-probability sampling using purposive sampling. The research sample consisted of 240 practitioners and trainers from 40 construction industry companies. The PLS-SEM technique was used to test the measurement and structural models (3 dimensions, 8 elements, 47 constructs/indicators, and 9 hypotheses). The competence of architecture graduates is determined by the dominant factor, namely Utilities and Building Construction (UBC1 & UBC2, λ = 89.90%), and Building Estimation and Costing (BEC7, λ = 73.30%) is the lowest factor. The ability of the structural model to explain architectural competency measurements is 36.20% in the moderate category. The predictive relevance value (Q²) explains 47.5% to 56.0% of the phenomena predicted in the field and explains the level of strength of the observed value in the structural model. Furthermore, 9 hypotheses from 8 dimensions have a positive and significant effect. The results of this study can be a recommendation for schools in the competency implementation model, and efforts to improve graduates' abilities and skills so that they can be absorbed by the construction industry and reduce unemployment.

The Organizational Culture and Organizational Performance of The Construction Industry in Jiangsu

This study aims to explore the impact of organizational culture on the performance of companies in the construction industry. By collecting survey data from 402 construction firms and employing statistical analysis methods, the paper examined the relationship between different types of organizational culture and firm performance. The results indicate significant correlations between four distinct types of organizational culture – clan culture, adhocracy culture, market culture, and hierarchy culture – and firm performance. Clan culture is closely related to teamwork and shared objectives, adhocracy culture is associated with innovation and a spirit of risk taking, market culture emphasizes competition and customer satisfaction, while hierarchy culture focuses on power distribution and organizational structure clarity. Furthermore, factors such as company size, employee age, and educational background were found to influence this relationship. The study also reveals the reciprocal relationship between organizational culture and firm performance. The findings suggest that enhancing firm performance may be achieved by shaping a culture that fits the paper examined needs. Therefore, construction industry enterprises can actively improve and guide their organizational culture by encouraging collaboration, innovation, customer orientation, and clarifying roles and organizational structure, thus enhancing their performance. However, this requires active involvement from leadership teams and strategic planning to ensure the success of cultural transformations. In conclusion, this research offers key insights for construction industry companies striving for excellence in performance. By understanding how different cultural types impact performance, organizational leaders can make better strategic decisions and management practices to maintain a competitive edge in a competitive market environment.

Maturity model for assessing digitalization process of construction industry companies

The construction industry is on the verge of large–scale changes as Industry 4.0 is preparing industrial enterprises for serious challenges. Digital transformation can bring significant changes in all areas of enterprise activity. Maturity models are usually used to assess the current situation and measure the digital maturity of an organization. The authors’ four-stage model of digital maturity assessment for construction industry companies has been proposed. When developing the model, it had been decided to move away from general assessments and use specific changes that would occur at construction industry companies in the process of digital transformation as an assessment tool. The model contains fifteen assessment factors, changes of which at various stages are indicators of digital maturity. The proposed model contains a detailed description of the four stages of digital maturity, therefore it can serve not only to assess the digital maturity of industrial enterprises in the construction industry, but can also be used to indicate the goals planned to be achieved in the future as part of digital transformation, in strategies or business models of enterprises. A distinctive feature of the model is evaluation factors reflecting the degree of integration of the digital environment of industrial enterprises with BIM models of construction organizations.

A Proposed Framework for the Integration of BIM Models in AEC Companies in Syria

Recently, AEC companies in Syria have realized the importance of adopting BIM in their system, especially in the next phase of reconstruction in Syria. However, due to the recent experience, the BIM process is still in its early stages and needs a lot of efforts to overcome the technical and administrative obstacles in front of it. The research methodology is based on analyzing models of organizational structures for AEC companies operating with BIM technology around the world, and studying their strengths and deficiencies in order to extract the most important factors for improving the performance of BIM in the Syrian construction industry companies. The study concluded with proposing a framework for the integration of BIM models in the structure of AEC companies, and companies that do not use BIM or that operate partially according to BIM can adopt it in developing their administrative structure in accordance with their own characteristics and the requirements of applying BIM in them.

A Review on Implementation of Strategic Management in Saudi Arabia Construction Companies Towards Achieving Sustainable Development Goals

Construction industry in Kingdom of Saudi Arabia (KSA) is going through a peek which can drive construction companies to adopt new strategies. This construction boom is a chance that cannot be missed by construction companies specially with 2030 Vision of KSA Mega projects such as Neom, and Redsea, therefore construction companies should take advantage of the opportunity leading to profitable contribution to the successful achievement of the sustainable development goals. The focus of this study is to identify the Key Performance Indicators (KPIs) for construction companies and then highlight the internal strength and weaknesses with the external opportunity and threats, towards best strategic management practice of the construction industry companies in KSA as a case study. The process will start with a literature review to identify performance factors of the construction industry in KSA, after conducting surveys results to rank the factors upon on their criticality. As result this review illustrates the research gap on construction industries on towards achieving sustainable development goals particularly in KSA’s construction companies.

An Off-Site Construction Digital Twin Assessment Framework Using Wood Panelized Construction as a Case Study

Off-site construction is an innovative type of construction with the philosophy of standardizing the process and deploying the latest technological enablers. Many technologies, such as the Building Information Model (BIM), Internet of Things (IoT), etc., are concerned with virtual representation and manipulation of the physical site. However, a holistic view of the off-site construction processes is lacking in the exploration of the technological advances, resulting in inconsistency when applying these advances in practice. The concept of Digital Twin is useful for addressing this challenge. Digital Twin is a philosophy and a collection of technologies aimed toward seamless physical and virtual connections. Therefore, a holistic Off-site Construction Digital Twin model is necessary for any research concerning this topic, and an assessment framework is useful in helping off-site construction industry companies in approaching systematic Digital Twin. This research first proposes a model for Off-site Construction Digital Twin. To quantify this model, an assessment tool named Off-site Construction Digital Twin Maturity Level is proposed. The validation and evaluation of this assessment framework are conducted through a case study with ACQBuilt, an off-site construction company in Edmonton, Canada. The resulting assessment framework contributes to the body of knowledge in two ways: Firstly, it sets the foundation for an Off-site Construction Digital Twin, which is anticipated to significantly reduce waste and to improve efficiency. Secondly, it enables easier technology application in practice by offering a holistic Digital Twin framework.

PROPOSING A COMPREHENSIVE PORTFOLIO MANAGEMENT MODEL FOR CONTRACTOR COMPANIES IN CONSTRUCTION INDUSTRY USING MULTI-CRITERIA DECISION-MAKING TECHNIQUES AND FUZZY LOGIC

Project portfolio management is an integrated way to achieve the strategic goals of the organization through the evaluation, prioritization, selection and management of projects, plans and other related tasks based on their involvement in the organization’s strategies and goals. Contractor companies in construction industry, that have different strategic goals and projects, always face high uncertainties in their projects; But they all have one thing in common, which it is not possible for them to implement all projects at the same time due to the limitations of resources (financial resources, human resources, equipment and machinery); Therefore they should try to achieve their strategic goals by identifying, evaluating, prioritizing and selecting the right projects by using portfolio management processes.
 Mentioning this necessity, this paper aims to provide a comprehensive and realistic model for portfolio management of contractor companies in construction industry. So that each construction company with its unique strategic goals and constraints, can apply it. The proposed model has three basic steps of project identification, evaluation and selection; In the first step, all the organization’s strategic goals, criteria and projects of the organization are identified, then in the second step, using a combination of AHP and SAW methods and fuzzy logic, a multi-objective decision problem to prioritizing projects based on goals (Each goal represents a group) is addressed; finally in the third stage, using the event tree (ET) method, all possible scenarios from the project’s combinations (probable portfolios) are identified and according to the limitations and points of each scenario , the best scenarios are selected.

Evaluation of knowledge management model in construction companies using the fuzzy AHP and fuzzy TOPSIS

The purpose of this study is the evaluation of knowledge management model in construction companies in Iran. The research is describing that it was conducted to a survey method. The statistic populations of this research are firms including Kayson Company, Property Iran Company and Kosovo Company as the expert's population and a sample of 30 experts were selected. FAHP and the fuzzy TOPSIS methods were used to analyse the data. The main instruments used for gathering the data in this study were questionnaires. Results show that in Iran's construction industry, the data is the most important subcategory of the factors knowledge management; wisdom, personnel, knowledge and information are at the next lower level of importance. The results obtained from both methods indicate that Property Iran Company in construction industry are more important than Kayson Company and Kosovo Company in the construction industry.

To Study an Awareness on Sustainable Green Building Practices Amongst Construction Industry Players

Green building is refers to both a structure and the using processes that are environmentally responsible and resource efficient throughout the building’s life cycle. Green building concept is introduced in 1960s and has gradually spread throughout the world and emphasized more on to energy conserving for office building in 1970s. In Malaysia, the green building concept has been accepted after announcement of 9th Malaysian Plan (2006-2010) in 2006 with focusing more on Renewable Energy (RE) and Energy Efficiency (EE). Furthermore, Malaysia has launched its own Green building Index (GBI) in year 2009. However this GBI is concentrated only on the measurement of green building but not for other aspects of green building such as indoor environmental quality, sustainable site planning and management, and so on. Moreover, the development of green building concept has occurred with limited understanding and guidance, and some cases have added a cost to the development. Therefore, this paper aims to identify factor influencing green building practice in Malaysia as well as to study awareness on green building practices amongst construction industry practitioner. The findings of this research were based on the questionnaires mailed and e-mailed to 75 construction industry companies; Property development company, Contractor company, Architect firm and Property management company within Klang Valley area. The findings have identified independent/government rating system as the main factor influencing construction industry player to undertaking green building practice. The results also revealed that the awareness amongst the construction players towards sustainable green building concept is moderate, and property development companies contributed to the highest mean score. These results show the willingness of the respondents to participate and committed with the green building development. This will allow recommendations to help ensure more sustainable green building development in Malaysia in the future.

The peculiarities and procedures of the transition to outsourcing by construction companies in Ukraine

The article analyzes the outsourcing services market and its consumption volumes in the recent years, assesses the industry range of outsourcing by paying close attention to the construction services companies, and evaluates the general trend in the development of the construction industry market in Ukraine. The paper determines the growth in demand for outsourcing services by construction companies by singling out outsourcing as an instrument of management in the construction industry. It demonstrates the expediency of the use of outsourcing for construction industry companies and describes the main reasons that prevent the making of decision regarding the transfer to outsourcing. The main objectives and the procedure of transition of construction companies to outsourcing are formulated. Given the importance of certain types of construction works, six stages of transition to outsourcing by construction companies were identified.

Problems, Conditions and Factors of Formation of Competitive Potential of the Construction Industry Enterprise

Objectives: To develop conceptual provisions and methodical bases, creating conditions for the growth of competitive advantages of construction industry companies. Methods: The study used a systematic, objective-functional, structural and optimization methods to solve these problems, expanding the scope of the subject-functional, resource and market and marketing approaches to the development and effective use of competitive potential, allowing wholistically representing the mechanism of planning and forecasting of its composition and structure, substantiation of criteria and indicators for effective use, development of marketing strategy, contributing to the assessment of alternative opportunities and selection of the most priority directions of use of the construction industry companies resources. Findings: The article defines the tactics of market positioning of the construction industry company, underlying its competitive status formation, determined by the level of investment, competitive strategy and competitive potential. A structural model of planning and forecasting competitive potential, depending on the stages of construction industry company lifecycle has been proposed. The necessity of applying marketing approach to the formation of competitive potential, based on the principle of customization, which establishes a relationship between the sovereignty of the consumers and the maximum satisfaction of consumer preferences in conditions of limited solvency and predictability of demand for construction industry products has been justified. It is proved that economic potential of the construction industry companies, being a factor of competition, becomes competitive only when its elements are structurally and functionally able to implement an effective marketing strategy and business ideas. Improvements: Article materials are of scientific and practical value for the development of instrumental database of diagnostics, analysis and assessment of the level of competitive potential; they orient the heads of construction industry companies to achieve strategic and tactical management purposes to ensure their long-term effective operation and development in market conditions.

Doing Business with the State and Firms’ Growth. Grasping Invisible Relational Capital

Abstract This study investigates relationships between reported assets growth, human capital effectiveness, ability to do business with state and firms' growth. Longitudinal data were extracted from annual financial reports. Sample includes 80 companies in construction industry of Bosnia and Herzegovina from 2008-2013. Generalized estimating equations (GEE) approach is used for investigation of previously mentioned associations. We found that working with the state in Bosnian construction sector is dominant factor for outstanding increase in net reported income, while the human capital efficiency is negatively associated to its change. These findings support the theory of markets with asymmetric information, suggesting that the relational and social capital of the firm in the imperfect markets, where the state is dominant customer, drives the growth and that precedes firm’s investments into development of intellectual capital.

THE IMPACT OF INTERNATIONALIZATION AND DIVERSIFICATION ON CONSTRUCTION INDUSTRY PERFORMANCE

This paper investigates the impact of internationalization and diversification strategies on the financial performance of construction industry companies. The results obtained can guide the design of strategies to pursue company growth and achieve competitive advantage. The evaluation of companies’ performance is based on the use of the Data Envelopment Analysis technique to aggregate financial indicators using optimized weights. The impact of internationalization and diversification on company performance is explored using truncated regression, controlling for the effect of contextual factors such as company age, size and time. Data Envelopment Analysis and truncated regression were complemented with bootstrapping to ensure the robustness of the results obtained. The activity of Portuguese and Spanish contractors in the period 2002 to 2011 is used as case study. The empirical results show that internationalization has a positive impact on financial performance, although this effect is only statistically significant for Spanish contractors. Diversification has a nonlinear relationship with performance, benefiting companies with either a small number of core activities or companies with a broad scope of activities.

Methodological aspects transparency financial statements of construction companies

In modern society, in terms of general information and integration of the economies, information is one of the main market products. There is becoming urgent task of improving financial statement transparency for enterprises in this situation. One of the most challenging in improving transparency can be considered the construction industry, because of the pursuit of privacy and a high degree of corruption. The paper analyzes the possible reasons for reducing the level of transparency in the construction industry companies. The paper highlighted the general and particular causes that affect the transparency of financial reporting of construction enterprises. Common causes are relevant for companies in any industry, and private causes show features characteristic of the construction itself. In addition, the paper analyzes the various methods of increasing the transparency used by companies all over the world. The analysis highlighted the internal and external methods for improving the transparency of financial statements and transparency of construction companies. Leadership and employees at the enterprise level providing transparency of financial reporting, and non-financial information about the company, having interest to stakeholders, carry out internal methods. External methods are applied at the macro level as the joint forces of the enterprises of the construction industry to form associations and the state. The analysis also considered the possibility of using these methods by the Russian construction companies and advantages and disadvantages of their application.

The Estimate Method of Economic Reliability in the Development of the Urban Underground

The paper exposes methodology of estimating economical reliability for construction industry companies, based on determining the changing trend of reliability. In order to determine the vector of reliability changing, the calculation and analysis of industrial, general economic, reputational and innovational indicators of a company have to be performed.

Budgeting System in Construction Organizations in Conditions of Process-Oriented Normative Model of Cost Accounting

The article analyses the features of the structure of the budgeting system in conditions of the process-oriented normative method of cost management. The authors set out the peculiarities of budget development in the construction industry, consider the stages of implementation of process-oriented budgeting in conditions of application the process-oriented normative method of cost management in construction industry. Using this model can be very useful for construction industry companies and help them set their goals to achieve performance indicators. DOI: 10.5901/mjss.2014.v5n24p56

Competitive positioning and performance assessment in the construction industry

The purpose of this paper is to characterize the competitive positioning of the construction industry companies and evaluate their financial performance. The methodology proposed involves three major stages. The first stage concerns the identification of the competitive positioning of companies within the construction sector. This is achieved using a hierarchical clustering algorithm suitable for large datasets and mixed type variables. The second stage is the analysis of performance of the different clusters. This is done using the Data Envelopment Analysis technique. To characterize in detail the main performance features of each cluster, a decision tree is used to extract the main rules concerning the performance spread within each cluster and the gap between the cluster best practices and the national benchmarks. The third stage concerns the analysis of the strengths, weaknesses and areas of potential improvement for contractors in each competitive positioning. This required the analysis of benchmark companies of each cluster. The methodology proposed was applied for the analysis of performance of all contractors that operate in the Portuguese construction industry.

Project Management of Energy Conservation for construction firms

A system for preparing and implementing measures necessary for the improvement and development of the production process and implementation of energy conservation measures in the construction industry companies hes been developed

RETAINING OLDER WORKERS: USING A CASE STUDY TO FORMULATE PROPOSITIONS ON THE ROLE OF HR BUNDLES.

The article presents management science research on how personnel management practices affect an organization's ability to retain older employees. Construction industry companies are examined as th...