An open framework for corporate strategy in construction

Abstract

A new conceptual model for corporate strategy in the construction industry is presented that is derived from two principal inputs. First, the fundamental components of the model are based upon observations drawn from an empirical study of 24 international firms competing in global engineering and construction markets. Second, the accumulated intellect of different strategic theories developed over four decades of strategic management research helps to fortify the model with theoretical propositions and establish linkages among the model's basic components. The proposed model is comprised of seven strategic fields, two organizational mechanisms and a boundary notion that divides a firm's internal setting from its external environment. The model's development leads to two central propositions: strategic fields and organizational mechanisms should function as variables to react with external dynamics, and the interaction of these variables consequently promotes higher order differentiation factors that will enhance the strategic outlook of a firm.

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