Ofori, G (2003) Preparing Singapore's construction industry for the knowledge-based economy: Practices, procedures and performance. Construction Management and Economics, 21(2), pp. 113-125. ISSN 01446193
Abstract
Many post-industrial economies are deemed to have entered a stage where knowledge and innovation are the main determinants of corporate competitiveness and national growth and development. This 'knowledge-based economy' has implications for all business activities. Singapore has prepared inter-related concept plans to guide its socio-economic development in the new age. What challenges does the knowledge-based economy pose to the construction industry? How can Singapore develop its construction industry to meet these demands? This paper begins by discussing the features of the knowledge-based economy. It outlines Singapore's strategies for developing a knowledge-based economy, and measures being taken to prepare the construction industry for such an economy, focusing on improvement in practices, integration of the construction process and export of services. It is suggested that other aspects require attention, including corporate development, business networks and procurement arrangements, and that the industry should be more involved in the implementation of these initiatives.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction practices; contruction 21; globalization; integration; knowledge-based economy |
| Index terms: | construction process, integration, globalization, economic development, strategy, export, competitiveness, determinant, implementation, construction industry, Singapore |
| Subjects: | risk assessment, contractual arrangements, economic analysis, Geography, management, economic development, industry analysis, economic factors, market analysis, organizational analysis, building construction |
| Topics: | Research Practice, Geographical Context, Business Strategy, Sustainability, Procurement, Risk Management, International Construction, Organizational Design, Site Management |
| Descriptive scope: | 3 PCT |
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