Abstract
Since the early 1990s, Korean construction companies have strived to evolve into global Engineering Construction (EC) companies. However, such efforts have been unsuccessful, partly due to a lack of clear objectives and a misunderstanding of the direction that needed to be taken for such a change. A better understanding is required with respect to the need to transform into an EC company in the context of the rapidly changing global construction environment. This research investigates major EC companies from around the world, and assesses the status of domestic companies' efforts for EC transition. The results of these investigations revealed that domestic firms need to better prioritize their strengths for different markets, i.e., decide whether to implement directly, outsource or limit to process management. In addition, the investigations showed that the global market is shifting from monolithic projects to more complex projects. Such projects require firms with the ability to develop and implement high front-end investment strategies, planning capabilities, and pre-design management skills. Accordingly, we recommend that firms differentiate themselves by developing such a skill set required for specific products.
| Translated title of the contribution | Construction EC Strategy Model and Improving Fields for Global EC Transition |
|---|---|
| Original language | Korean |
| Pages (from-to) | 145-153 |
| Number of pages | 9 |
| Journal | 한국건축시공학회지 |
| Volume | 11 |
| Issue number | 2 |
| DOIs | |
| State | Published - Apr 2011 |