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Measuring Construction Industry Performance - Essay Example

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Measuring Construction Industry Performance

Revenues from constructed buildings are not keeping pace with escalating cost of equipments, transportation and other economic factors. The prices of related construction items are quietly unrelated to the expenditure put in constructing, transporting materials, processing and selling.
Floods and droughts have made the established businessmen to become debtors though they have borrowed money and invested the same in equipment and land. There are delays in getting government funds, which are in adequate to meet these types of natural calamities. Though there are private insurance companies to cover insurance of these investments from weather-related catastrophes they are not that much helpful. The small players who solely depend on their investments are the losers of these natural calamities.
Like any other traders or businessmen, investors can ensure long term growth and stability through proper planning in changing market conditions during the periods of floods, drought and in price downsizing and also taking the help of key performance indicators (KPI) or benchmarking so that they may not depend on the assistance and support of government. Sharon McClements et al (2002) concluded that the Construction Best Practice Programme, have developed a benchmarking gateway known as KPI zone.
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In construction field, many problems are attributed to UK consumer's refusal to recognise and pay for value added to the products produced by the small investors. Because of this, the investors are not able recover their investments and expenses through sales which tends them to expect government subsidies to support them. The investors are not in a position to bear the smallest price increase in power tariff.
There are two types of economic nationalism. The first protection in trade is represented in establishing a system of rates and tariffs in favour of domestic production and discourages foreign imports. This kind of protection is desired to encourage establishment of industrial base in UK by saving small and infant industries against the competition of larger and well-established firms in abroad.
The second economic protectionism is a post world war -II phenomenon that is related to the proprietorship as UK businesses by foreign traders and investors. Multinational companies have been set up after world war-II due to immense investments of foreigners in UK business.
Multinational companies thought that they could evade tariff restrictors in UK by introducing their own branches plants and subsidiaries, which allowed them to go to markets, mobilize resources and capital and get favours with UK government. These kinds of investments have created to the economic nationalism due to expansion of multinational companies. The foreign owned companies could not take central position over economic decisions from their head office from outside UK. The economists in UK are compelled to demand for bringing out a legislation to oversee the activities and restrain the growth of foreign ownership in UK economy.
UK is one of the members of many international groups; one amongst them is G-8, the eight largest industrial democracies. The G-8 countries heads of governments ...Show more

Summary

Constructors and businessmen are subject to variable weather conditions of natural disaster and should save and keep investment during the period of profit so that they do not become bankrupt during the period of downswings. John Stewart (2002) advances the notion that planning for new housing should take realistic account of the likely future geography of population, social and economic change…
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Measuring Construction Industry Performance essay example
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