PurposeTo suggest a conceptual framework to benchmark enablers of growth and link them to performance metrics, duly supported theoretically with definitions and literature review. The sub-objectives of the study are the following:To identify enablers based on theories and antecedents of growthTo establish key leads on how the identified enablers have been deployed by leading construction companies, basis their stages of growth and economic contextTo identify which enablers have higher potential to contribute to competitiveness and growth in an effort to benchmark performanceTo establish if the enablers deployed is dependent on the market maturity and economic contextDesign/methodology/approachThe enabler-mix-based approach is evolved through literature review, inputs from industry practitioners, and subsequent empirical analysis. To explore relationships, the primary methodology suggested is building theory from practice, justified in specific industry and regional economic context. Content analysis has been used for validation of the framework.FindingsTraditional strategy literature suffers from the limitations in terms of applicability and specific contextual settings. In a rapidly changing and varied environment coupled with the context of emerging countries, there is a need for a benchmarked framework for strategy and growth. The evidence toward utility of the framework has been established through a quick analysis of leading construction companies. Capabilities for “operational and process excellence,” “unique products and services,” and “visionary leadership” emerged to be the higher ranked core growth enablers. However, the deployment of these enablers is dependent on the maturity of the company and its economic context.Research limitations/implicationsThis simpler and generic framework analyzes the relative impact on performance, as well as the inter-enabler interaction and substitution effects, in the context of construction companies.Practical implicationsIn the context of industries that are volatile in nature (like the construction industry), strategy tools need to be simple and generic towards practical and uncomplicated application for the managers, to achieve positive outcomes.Originality/valueThis paper offers fresh perspectives to benchmarking literature in terms of enablers to deliver growth performance, in the context of construction companies. It attempts to fill the gap in evolving simple strategy tools to ensure sustainable growth performance in industries having nascent research support and less availability of data so far. In the context of industries that are volatile in nature (like the construction industry), strategy tools need to be simple and generic toward practical and uncomplicated application for the managers to achieve positive outcomes.
PurposeThe Fourth Industrial Revolution (4IR) holds the potential to improve capabilities- and technology-based innovation, which will enable breakout for architectural, engineering, construction and operation and maintenance (AECO) companies, for international competitiveness. Though the top management of such companies is convinced on the utility of the applications, they are unsure on the strategy of implementing the same. The objective of this research is to suggest a strategy framework for digital transformation of the AECO value chain.Design/methodology/approachThe nascent level of research on 4IR in construction necessitated the adoption of the integrative review methodology for the study. Extensive literature review of research on strategy and 4IR has been utilized to establish the validity of the first two pillars, namely “a strategy of simple rules in a complex environment; and deployment of dynamic capabilities.” The validation of a construct for the third pillar of “confluence of change and continuity forces” has been achieved via hypothesis testing of data obtained through a questionnaire survey.FindingsThe present study has integrated three diverse ideas of strategy, named as the pillars, to facilitate sustainable digital transformation. Within the third pillar, top three continuity forces which offer resistance to change are organization culture, existing delivery processes and networks, and existing standard operating procedures. On the other hand, the leading drivers of change are needs of competitiveness; global industry trends and the advent of new technologies/innovations.Research limitations/implicationsThis provides a practical approach to operationalize digital transformation of the AECO at an organization level. The validation relied on opinion and perspectives of a sample frame in the Indian context, which was its limitation.Originality/valueThis paper suggests a strategy framework of three pillars to help address specific strategy dilemmas during implementation of digital transformation of particular organizations in AECO. The study contributes to both theory and practice by helping leaders of AECO companies, associations, policymakers and the academia to strategize transformations successfully.
Purpose This paper aims to propose an integrated framework for digital project-driven supply chains (PDSC) to address multiple objectives in Architecture, Engineering, Construction and, Operations and Maintenance (AECO) value chain. Additionally, the following sub-objectives were also to be addressed: to assess emerging themes of Fourth Industrial Revolution (4IR) technologies in AECO and to identify lacunae in existing project supply chains. Design/methodology/approach The research relies on qualitative approaches and mixed methodologies, for building theories based on domain expert interviews and questionnaire surveys administered on industry professionals. Hypothesis testing has been used to analyze data and identify significant 4IR technology applications and evolve a PDSC framework to address multiple objectives in the AECO context. Findings 4IR technologies can completely revolutionize AECO supply chains and catapult the discipline into a completely new paradigm. The immense computing power unleashed can contribute to enhancing effectiveness in delivery. Technologies such as the Internet of Things, Internet of Services, Cloud Computing, Big Data, Smart Factory, 3 D-Printing, Cyber-Physical Systems or Embedded Systems, Augmented Reality, Virtual Reality and Robotics hold immense future potential. The study proposes an integrated framework to address the multiple objectives of improved project delivery, increased productivity and cost savings, activity monitoring, reporting and agility, better workflow processes and reduction of wastage. Research limitations/implications The study offers ideas for complete integration of the AECO supply chain to deliver value to end customers. It, however, relies on opinions, perspectives and recollections of respondents, which is its limitation. Their opinion is expected to be influenced by their domain and project expertise. Practical implications In today’s global environment, information and data management is a meaningful intermediary in 4IR. It can be delivered with the aid of the cloud to collect, appraise and evaluate data efficiently; faster machine operations to manufacture quality goods at a lower cost; boost productivity; and competitiveness in AECO companies. Appropriate exchange of information and knowledge transfer will lead to innovation, effective communication in terms of frequency and quality of information; willingness to share information to improve overall performance; commitment to a common goal and mutual support; and continuous innovative effort. Originality/value This paper suggests fresh perspectives to integrated digital project-driven supply chains propelled by 4IR technologies, with a purpose to deliver multiple project objectives and end-customer value addition.
PurposeSuccessful handling and delivery of projects requires commensurate growth in the business capabilities of construction companies. The current scenario of exponential infrastructure boom in India necessitates scaling up to meet the challenges of competitiveness. The objectives of this study are to (1) identify the enablers of sustainable business growth among Indian construction companies, (2) identify gaps in the deployment of the enablers in comparison to competitive successful international construction companies and (3) suggest strategic initiatives to top management of companies and policymakers for promoting business growth and industry competitiveness.Design/methodology/approachA detailed literature review first identifies an adapted framework for enablers of growth and growth performance of successful international construction companies on basis of industry trends. Thereafter, a questionnaire survey was administered on the leading construction companies in India to assess the deployment of enablers and gaps thereof. A total of 108 valid responses were obtained from top management executives of the companies and analysed through descriptive statistics and hypothesis testing.FindingsStudies indicate that anticipation of new demands and capabilities; business opportunity scanning and human resource skills and capabilities are among the most important enablers of growth. The role of leadership vision and focus on development of human resources is critical to competitiveness and growth. The successful international construction companies have delivered growth utilising their ability to deploy multiple strategies, diversification and new business opportunities. These are sparingly deployed by Indian companies.Research limitations/implicationsThe study is limited to the opinion and perceptions of the top management personnel of the construction companies.Practical implicationsHigh economic growth context offers a unique opportunity for domestic Indian construction companies to leverage. The valuable insights gained from this study provide hints to the top management of these companies to draw managerial implications for facing the challenges ahead and delivering projects in the dynamic and hyper-competitive construction industry. The policymakers on their part are responsible to support and promote initiatives for sustainable growth.Originality/valueThe study suggests business growth enablers to construction companies in India to improve their international competitiveness.
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