Bhattacharya, S; Momaya, K S and Iyer, K C (2021) Bridging the gaps for business growth among Indian construction companies. Built Environment Project and Asset Management, 11(2), pp. 231-250. ISSN 2044-124X
Abstract
Successful 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. A 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. Studies 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. The study is limited to the opinion and perceptions of the top management personnel of the construction companies. High 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. The study suggests business growth enablers to construction companies in India to improve their international competitiveness.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction companies; business growth; India; annual reports; competitive advantage; market positioning; productivity; market segments; economic development; USA |
| Index terms: | India, economic growth, statistics, construction industry, testing, scaling, diversification, human resource, top management, international construction, questionnaire, competitiveness, executive, annual report, literature review, strategy, productivity, construction company, survey, competitive advantage, personnel, economic development, business growth, market positioning, market segment |
| Subjects: | practitioner, strategic management, data collection methods, organization, mathematical modelling, business, data analysis and analytics, professional practice, Geography, management, economic development, industry analysis, market analysis |
| Topics: | Organizational Design, Human Resources, International Construction, Roles and Professions, Governance, Sustainability, Business Strategy, Geographical Context, Research Practice, Engineering Principles |
| Descriptive scope: | 5 PCTEA |
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