Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220206
Title: EFFECTIVENESS OF THE CONSTRUCTION INDUSTRY TRANSFORMATION MAP (CITM) IN ASSISTING SINGAPORE �S CONSTRUCTION SMALL & MEDIUM ENTERPRISES (SMES) TO INTERNATIONALISE
Authors: NG KANG JUN
Keywords: SME
Internationalisation
Building
PFM
Project and Facilities Management
Low Sui Pheng
2018/2019 PFM
Issue Date: 4-Dec-2018
Citation: NG KANG JUN (2018-12-04). EFFECTIVENESS OF THE CONSTRUCTION INDUSTRY TRANSFORMATION MAP (CITM) IN ASSISTING SINGAPORE �S CONSTRUCTION SMALL & MEDIUM ENTERPRISES (SMES) TO INTERNATIONALISE. ScholarBank@NUS Repository.
Abstract: Small and Medium Enterprises (SMEs) in the construction sector bodes pessimism in recent years due to declining private and public projects. Under the Industry Transformation Programme in 2017, Industry Transformation Maps (ITMs) were developed for 23 industries to tackle industry-specific issues. As part of the nation’s economic restructuring strategy, these ITMs are specially tailored to each sector’s needs so as to help companies and workers achieve success. Most importantly, the ITMs help firms seize global opportunities by assisting them in their capability upgrading efforts. The push for technological practices such as prefabrication and digital technology in the construction industry seeks to transform and upgrade the industry. And ultimately, the ITMs aim to upgrade the entire construction industry and help firms thrive locally and compete globally. However, according to industry experts, the ITMs are irrelevant and disconnected from the needs of SMEs. This study serves to solicit the opinions of construction SMEs on the effectiveness of the Construction ITM (CITM) in assisting firms in internationalisation. A framework is used to access the critical success factors for internationalisation according to construction SMEs. Thereafter, recommendations are provided to understand what construction SMEs require and favour. With the use of research methods such as surveys and interviews, feedback is collected and studied to reflect the perception of construction SMEs towards the CITM. Respondents disagreed with the notion that CITM will benefit the SMEs of the construction industry, which glaringly differs from what the Government envisioned the ITMs to be. Based on the respondents’ perception collected, it was revealed that three out of the five strategies in the CITM are deemed to be effective in helping SMEs to internationalise. However, issues such as the lack of financing power and limited manpower which SMEs face, prevent them from fully leveraging the strategies offered. The respondents identified several critical success factors for internationalisation many of which are related to firm-specific advantages.
URI: https://scholarbank.nus.edu.sg/handle/10635/220206
Appears in Collections:Bachelor's Theses

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