Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223559
Title: BLUE OCEAN STRATEGY AND ITS RELEVANCE IN THE CONSTRUCTION INDUSTRY
Authors: WAN MEIYI
Keywords: Building
Issue Date: 1-Oct-2009
Citation: WAN MEIYI (2009-10-01T11:46:51Z). BLUE OCEAN STRATEGY AND ITS RELEVANCE IN THE CONSTRUCTION INDUSTRY. ScholarBank@NUS Repository.
Abstract: The construction industry in Singapore is made up of a large percentage of small construction firms and few large companies. The main aim of this research is to develop a framework that can guide contractors in expanding their business. Blue Ocean Strategy, a business concept, claims to be able to help businesses create new market space, leveraging over competitors by means of value innovating (creating exceptional value for clients). A detailed review was conducted on the book to develop a framework which can act as a guide for construction firms looking forward to expand their businesses. This framework was presented to members of the industry for feedback via interviews, with the aim of further fine-tuning this framework. Feedback gathered from the interview sessions show that the idea of value-innovation in the industry is still green in the industry. Firms do not see any incentive for change, as they face many barriers: finance, reputation, lack of demand as well as procurement methods. It was highlighted that improvements in the industry must first start from educating clients and changing their price-orientated mindsets. Only four interviews were conducted due to the small number of respondents that replied to the email request for an interview. A more persuasive study could have been done with more interviewees.
URI: https://scholarbank.nus.edu.sg/handle/10635/223559
Appears in Collections:Bachelor's Theses

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