Content area
Abstract
This study addresses the process of strategic management with specific reference to the Construction Industry.
The study consists of four main parts. Part 1 serves as an introduction to the study and gives the study plan with a short discussion on its composition. Various theoretical models, used by other writers, to present the process of strategic management is given.
Part 2 discusses the various elements of the process of strategic management. The following elements are identified and discussed: (1) Mission formulation; (2) Mission definition; (3) Internal organisation profile analysis; (4) External environment analysis; (5) Strategic analysis and choice; (6) Objectives, goals and related strategies; (7) Implementation and evaluation of strategy; and (8) Organisational structure and strategy.
Part 3 of the study reviews the aspects pertaining to the research done. The research problem, research methodology and research planning are discussed and the hypothesis are formulated. This is followed by the presentation of the research results with an interpretation of these results and a discussion on the degree to which these results support the hypothesis.
Part 4 concludes the study with recommendations regarding the implementation of the theory presented in the study.
The Construction Industry is a vital sector of the overall economy because it provides the infrastructure which enables the other sectors to produce goods and services.
The prosperity of the Construction Industry is thus not only of importance to the people directly involved in the industry, but to the country as a whole. Proper and responsible management of this sector is thus in the interest of everybody.