Strategic management in construction

The traditional philosophy of management in construction, both in academia and in industry, places great emphasis on the ability to plan and execute p rojects. In contrast, a similar emphasis on strategic management has receiv ed less attention in the construction industry. Although the pressures of p roject performance can often obscure the broader social, economic, and prof essional context in which strategic management is undertaken, it is these b road contextual areas that make strategic management an essential issue for construction organizations. Rapidly changing social and technological issu es are creating a professional environment that will look very different in the coming decades from that experienced in today's organizations. This pa per introduces a study of the current strategic management practices of con struction organizations. This paper also introduces the concept of strategi c management and the areas that organizations must address to compete in th e global marketplace. A summary of an industry survey is documented togethe r with the background research that prompted the investigation of these top ics.