| Title |
A Study on Strategies of the Global Construction Companies for Improving Competitiveness of Korean Construction Companies |
| Authors |
Jang, Hyoun-Seung ; SohnTae-Hong |
| Keywords |
Overseas Construction ; Sustainable Growth ; Key Strategies ; Utilization |
| Abstract |
This study aimed to recommend key strategies that can be utilized by Korean construction firms that need to overcome various challenges in overseas construction markets. In order to achieve the purpose, this study analyzed strategies and financial performance of four US and eight Europe construction firms, respectively. In result, six critical strategies commonly used in those construction firms include M&A and strategic joint venture, market diversification, business diversification, work type concentration, R&D, and global network. In addition, there are meaningful differences among construction firms in terms of utilization of strategies. For US construction firms, R&D and strategic alliance are the most effective strategies for sustainable growth. However, Europe construction firms use M&A, business concentration and market concentration as key stragegies for their growth. The findings of this study can be used as materials in order to develop effective strategies of Korean construction firms. |