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.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2019 Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Pheng, L.S., Hou, L.S. (2019). Firm Characteristics and Strategies. In: Construction Quality and the Economy. Management in the Built Environment. Springer, Singapore. https://doi.org/10.1007/978-981-13-5847-0_4
Download citation
DOI: https://doi.org/10.1007/978-981-13-5847-0_4
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-13-5846-3
Online ISBN: 978-981-13-5847-0
eBook Packages: EngineeringEngineering (R0)