The Paradox of Small and Medium Construction Firms Sustainability in Less Developed Countries

Ramadhani Tekka () and Kunhui Ye
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Ramadhani Tekka: Chongqing University
Kunhui Ye: Chongqing University

A chapter in Proceedings of the 24th International Symposium on Advancement of Construction Management and Real Estate, 2021, pp 1075-1091 from Springer

Abstract: Abstract Different construction firms from less developed countries have either introduced or adopted various policies, strategies, and support programs aimed at enabling the growth of construction industries. Although some strategy and supportive programs witnessed a little success, still many firms are experiencing many challenges that contribute to unsustainable growth. This study ought to identify potential strategies for small and medium firms in less developed countries for sustainable growth. Using a structured questionnaire and mean score analysis, twenty potential strategies were identified. The findings shows that, a certified training, recruitment of competent and qualified professionals, effective allocation and utilization of resources, strengthening of public-private-partnership, empowering local monetary organizations, use of quality local materials, abiding to professional ethics, reviewing short & long strategic plan, focusing on core business, maintaining low firm operational cost, adoption of joint venture with overseas firm and strategic alliance, ensure availability of modern equipment, guaranteeing stable financial of the firm and establishing good relationship and networking with stakeholders while ensuring client satisfaction were the highly ranked strategies for firm sustainability. It is proposed that a further study on strategy prioritization depending on a firm’s possessed attributes should be undertaken to come up with a strategy prioritization model.

Keywords: Construction industry; Strategic management; Tanzania (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-15-8892-1_76

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DOI: 10.1007/978-981-15-8892-1_76

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