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Economics , applying Porter's Diamond to the construction industry - Essay Example

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The construction industry is a booming industry around the world and at present it is providing lots of opportunities to the leading construction companies for the growth of their business. The developing countries are attracting the leading construction companies with their…
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Economics Essay, applying Porters Diamond to the construction industry
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Economics , applying Porter's Diamond to the construction industry

The work includes building of roads, bridges and other major infrastructures. The real estate business is also urban based; so the constructions companies need to base all their business activity in urban areas in order to compliment the real estate industry. The repair and maintenance of existing buildings and other infrastructures also falls under the domain of construction industry and its major business comes from the densely populated urban areas. This is due to the fact that the more usage of infrastructure in densely populated urban areas results in higher damages and hence is subject to repair. There are mainly three categories in which the construction industry is divided. First, being the heavy constructions that require high civil engineering; in this category we have the construction of roads, bridges and other big infrastructures. In this category the big guns of construction industry come into function for all major commitments. The second category is the general construction of buildings of real estate; in this category the construction companies operate in housing development works. The small construction companies mainly operate in this category, as it requires small budgetary involvements. The third and final category comprise of special constructive work, which is done in small scale. Specialized areas of construction fall in this category like the construction work on wood, electric related works, etc. In this category very specific construction companies operate as it require specialization in specific field of work. (Economy watch, n.d).
It is seen that the contractor may be an individual or any organization; contractors definitely fall in any of the above categories in construction business. A construction firm, of any size can fall under these three categories of the construction business. The scope of growth of construction industry is favorable in the developing countries where the trend of ... Read More
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