Is Strategic Planning the Right Method to Define and Implement Future Strategic Options in the UK Construction Industry?

Master's Thesis from the year 2011 in the subject Business economics - Miscellaneous, printed single-sided, grade: A, University of Hertfordshire, language: English, abstract: In the management of any business and industry the function of strategic planning plays a key role that gives direction for future and assists in identifying the organisations competitiveness. Evidences suggests that construction companies are not putting enough efforts and are not emphasizing enough on strategic planning in comparison with their counterparts in other industries. The paper gives a platform for an enhanced framework for practices of strategic planning for construction companies in UK. The analysis of strategic planning as right method for defining and implementing future strategic options for the UK construction industry is proposed from the current practices in the industry and online available literature on the topic. The paper highlights related external factors and scenarios of the industry, considers the engagement of the stakeholder during the process, and helps to analyse the overall effectiveness of the strategic planning. The paper should help companies in construction industry of UK to plan and implement their future strategic options in a better way and thus improve their practices.