| Title |
Benchmarking of Strategic Performance of Global Top Construction Firms |
| Authors |
Woo, Jung Suk ; Jang, Hyoun Seung ; Choi, Seok In ; Park, Chan Sik |
| Keywords |
ENR ; Business Strategy Planning ; Business Portfolio Plan ; Benchmarking ; ENR |
| Abstract |
Strategic planning is an essential function of senior management in any business firm. Planning involves the firm's behavior in an competitive market and adaptation of the company's resources towards the selected market strategy. This study presents a methodological procedure for strategic planning in global top-tier construction firms. This procedure consists of the following stages. First, analyzed growth of revenue in which weight of total construction firms' revenue shown in Global Top 225 Contractors(ENR). Second, analyzed specialty of construction products. The products are General Building, Power, Water Supply, Industrial/Petroleum Process, and Transportation. Third, analyzed business the portfolio plan. The business portfolio plan includes both local/overseas market and specification/diversification of construction products. It affects the subsequent choice of a benchmarking for development of each construction company. The choice of the benchmarking firm, among several available alternatives, should follow a careful analysis of the characteristics and benefits inherent in the implementation of each. |