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Firm Characteristics and Strategies

  • Low Sui Pheng
  • Lau Shing Hou
Chapter
Part of the Management in the Built Environment book series (MABUEN)

Abstract

Tay (1994) summarized the construction industry as one that is characterized by activities which are discontinuous, dispersed, diverse and distinct; referring to how the industry is made up of a diverse range of trades and disciplines that are interconnected to deliver a project. For instance, to construct a relatively simple two storey bungalow, one would need a team of consultants, a team of contractors to work on different trades and disciplines and a range of suppliers. Hence, construction quality of a project depends on not just one firm but a multitude of firms. Each firm in this value chain exercise their own judgement on the time-cost-quality tradeoff decisions on their respective works; with each firm’s decision contributing towards the overall construction quality of the project.

Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Department of BuildingNational University of SingaporeSingaporeSingapore

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