A discussion on effective strategic management in the built environment sector.
Written in 2008; 2,344 words; 12 sources; APA; $ 72.95
Paper Summary:
This paper evaluates the use of strategic planning concepts, frameworks and processes in the built environment sector. The paper does this by balancing the need for accurately interpreting and responding to market conditions on the one hand with the internal prioritization of strategic investments to ensure competitiveness in the coming years on the other hand. The paper then explains that this balancing act is not well suited to many built environment sector organizations whose cultures are dominated by a short-term and project-centric approach to accomplishing objectives. Next, the paper uses the Ansoff Matrix, The Boston Consulting Group Growth/Share Matrix and accompanying 'experience effect' as the foundations for making recommendations as how built environment sector organizations can increase the effectiveness of their strategic planning processes.
Outline:
Executive Summary
Using the Ansoff Matrix as a Strategic Planning Tool
The BCG Matrix in the Built Environment Sector
Summary
From the Paper:
"The BCG Matrix is primarily focused on the resource allocation decisions companies need to make between competing products and strategies. For the built environment sector, this strategic planning framework is well-suited for the coordinating and synchronizing of strategic plans throughout an organization as one of its core concepts is the allocation of resources between varying business units or in the case of this specific industry, projects. The Boston Consulting Group specifically calls the ability of organizations to learn and embed processes into their organizations the experience effect (Henderson, 1970, 1972). While the BCG Matrix has achieved notoriety for its graphical definition of business unit positions relative to market growth and market share, the more valuable insights are actually in the quantifying of the experience effect dropping costs as a result of greater market share being attained."
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