Recently as 6 months ago I was involved in the reconstruction and up gradation of my own house. The process lasted 1 and half years due to various reasons, some of which were that we were also living in the same house and the upper story was being built, availability of funds, lack of time on our part etc. But apart from these aspects I learnt that the construction business of today lacks many things. One such thing was that there are no truly professional construction firms that cater to the rather small scale construction of urban houses. The traditional "Thekedars" prevail in this market sector. These people usually have a team of un educated mistries and mazdoors. There is a severe lacking of application of planning and management procedures and practices. The dynamic nature of today's construction industry compels owners and contractors to pursue strategies that improve performance. The ongoing changes and fierce competition of the construction sector exacerbate the ability to predict implications of strategic decisions on company performance. However, decisions are usually made using limited analysis and based on intuition, or evaluated using conventional approaches, which ignore risks and uncertainties. So for this assignment I decided to devise a strategic plan of a hypothetical construction company.
As described in the introduction, the motivation for forming a construction company is to bring modern management and execution strategies into this relatively raw and immature field of small scale housing construction and there by providing cost effective, reliable and swift services to this industry.
The vision of the company is to be the market leader in the field of construction. The goals that we plan to set for this company are very much achievable because of the current state of this field in general. The construction industry In Pakistan is booming in general....