Diagnosis of Sustainable Business Strategies Implemented by Chilean Construction Companies

Abstract

Construction companies need to formulate sustainable construction business strategies to create a competitive advantage and remain in the market. This requires that construction firms incorporate sustainability into their business model. However, the current situation of the firm must be known before following the path to be a sustainable construction firm. Therefore, the aim of this research is to identify sustainable business strategies and their level of implementation in Chilean construction companies. A survey was designed and applied to 245 construction firms to provide statistically valid and reliable information, thus supporting both the senior managers' decision-making process and the companies' strategic planning. The main results show that the companies do not pursue business strategies that promote profound organizational changes; instead, they focus their short-term efforts on urgent market demands. This is evidenced by the lack of the function of sustainability management as a permanent role in the organization. Also, this study found that only 32% of Chilean construction companies implement business strategies towards sustainability. Construction firms with higher turnover and subjected to stricter regulations, such as construction companies working in the mining sector, incorporate more sustainable business strategies across their organizations. The lack of a sustainability-oriented vision can affect the transformation of strategy into a competitive advantage, a step that is necessary to support both the company's permanence in the market and its long-term sustainability.

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