Jaafar, M; Nuruddin, A R and Abu Bakar, S P S (2014) Business success and psychological traits of housing developers. Construction Economics and Building, 14(2), pp. 57-72. ISSN 2204-9029
Abstract
Although the issues on entrepreneurship in the real estate industry are disparaging and have received little interest from global researchers, the significant roles played by the industry players warrant further investigation. The personal traits of the owners/managers are deemed to be the key factors to the business success of housing development firms. This paper examined the main determinants of successful businesses in the housing development sector under the lens of psychological traits of the owners/managers. To identify the success factors of housing development firms, interviews were conducted on 10 housing developers in Peninsular Malaysia. The study shows the significant psychological traits that distinguish the business success of housing developers compared with those in the existing literature. These factors are (1) high confidence and ambition, (2) vision and foresight, (3) industriousness, (4) perseverance and (5) integrity. As housing development is a risky industry, developers can use these findings as a guideline in managing their business toward superior performance.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | business success; housing developers; psychological traits |
| Index terms: | integrity, owner, determinant, housing development, success factor, housing developer, interview, Malaysia, real estate, manager, investigation, entrepreneurship |
| Subjects: | Geography, health safety and environment, practitioner, risk assessment, construction type, data collection methods, business, health monitoring assessment and metrics, sociology, real estate economics |
| Topics: | Urban Studies, Construction Technology, Risk Management, Roles and Professions, Stakeholder Management, Research Practice, Geographical Context, Health and Safety, Business Strategy |
| Descriptive scope: | 4 PCEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here