the development of strategic planning ......organisation to shift the current short term planning to...
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i
THE DEVELOPMENT OF STRATEGIC PLANNING CONCEPT
PROCESS MODEL FOR SMALL MEDIUM ENTERPRISE (SME) IN
THE CONSTRUCTION INDUSTRY
MOHD YAMANI BIN YAHYA
A THESIS SUBMITTED IN
FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF THE
DOCTOR OF PHILOSOPHY
FACULTY OF TECHNOLOGY MANAGEMENT AND BUSINESS
UNIVERSITI TUN HUSSEIN ONN MALAYSIA
APRIL 2015
vi
ABSTRACT
Small Medium Enterprise (SME) construction organisations are facing very
demanding and competitive environment in the construction industry. The
demanding and competitiveness of the construction industry required SMEs to be
continuously vigilant to current situation and plan to the future. Many of these
organisations failed to respond to ever changes environment and some of them were
forced to fold their business. These pressures began to force SMEs construction
organisation to shift the current short term planning to more strategically planning
method such as strategic planning. SME construction organisations should engage in
strategic planning activities to enhance their chances of survival and success due to
this concept forces organisation to learn and adapt to current environment. Despite
high fatality and have only 60 percent of survival rate, many SME construction
organisations are reluctant to embrace strategic planning. Therefore, the aim of the
study was to develop strategic planning model for guiding SMEs in their future
planning. Additionally, the objectives of this research were to identify and
investigate the influencing factors and barriers that hinder strategic planning
application in SME construction organisations. In satisfying this aim and objective,
the research was undertaken in two distinct phases. In phase one, an exploratory
study that utilised semi-structured interviews to examine ‘why’ and ‘how’ strategic
planning is used in practice by SME construction contractors was undertaken. A total
of 22 in-depth interviews were conducted with owners and managers. It was revealed
that most firms adopted a myopic and informal approach to strategic planning, with
the main barriers to its implementation were plan in owner’s mind, unrealistic, busy,
and un-forecast industry. In phase two, the findings from the interviews, in
conjunction with the literature, were used to develop series of questions, which were
subsequently tested using questionnaire survey. The questionnaire survey gathered
quantitative data from a total of 133 SMEs regarding strategic planning practices and
the factors that influenced its application. A number of non-parametric statistical
techniques were used to analyse the data, which included relative index and factor
vii
analysis. The influence factors were identified and ranked by using relative index
method (RI). The analysis revealed that five (5) variables that were considered the
primary influence factors to strategic planning were people, market, technology,
project, and financial. In addition, four (4) barriers including managerial,
organisational, planning, and industry issues can be obstacle to the effectiveness of
the implementation process of strategic planning. Subsequently, the research
developed a generic strategic planning model for SMEs and was validated externally
by construction industry practitioners. The proposed model provides basic
fundamental for the SMEs in the construction industry to engage strategic planning
process to enhance their organisation performance.
viii
ABSTRAK
Organisasi pembinaan Perniagaan Kecil dan Sederhana (PKS) menghadapi
persekitaran yang mencabar dan berdaya saing dalam industri pembinaan.
Persekitaran industri pembinaan yang mencabar dan berdaya saing memerlukan
organisasi PKS dalam industri pembinaan untuk terus berwaspada dengan keadaan
semasa dan menyediakan perancangan untuk masa depan. Kebanyakan dari
organisasi ini gagal menangani perubahan persekitaran yang sentiasa berlaku dan
sesetengah mereka terpaksa menutup operasi perniagaan mereka. Tekanan ini mula
memaksa organisasi pembinaan PKS beralih dari perancangan jangka pendek kepada
kaedah merancang lebih strategik seperti perancangan strategik. Organisasi
pembinaan PKS perlu melibatkan diri dalam aktiviti-aktiviti perancangan strategik
untuk meningkatkan peluang mereka untuk kekal dan berjaya kerana konsep ini
memaksa organisasi untuk belajar dan menyesuaikan diri dengan persekitaran
semasa. Walaupun menpunyai kadar kegagalan yang tinggi dan hanya mempunyai
60 peratus peluang untuk terus kekal dalam perniagaan, banyak organisasi
pembinaan PKS enggan menggunakan perancangan strategik. Oleh itu, matlamat
kajian ini adalah untuk membangunkan model perancangan strategik untuk
membimbing PKS dalam perancangan masa depan mereka. Selain itu, objektif-
objektif kajian ini adalah mengenal pasti dan menyiasat faktor-faktor yang
mempengaruhi dan menghalang penggunaan perancangan strategik dalam organisasi
pembinaan PKS. Dalam memenuhi matlamat dan objektif ini, kajian telah dijalankan
dalam dua fasa yang berbeza. Dalam fasa pertama, satu kajian penerokaan yang
menggunakan temubual separa berstruktur untuk mengkaji 'mengapa' dan
'bagaimana' perancangan strategik yang digunakan dalam amalan oleh kontraktor
pembinaan PKS telah dijalankan. Sebanyak 22 temu bual telah diadakan dengan
pemilik dan pengurus organisasi. Dapatan temubual mendedahkan bahawa
kebanyakan organisasi mengguna pakai pendekatan miopia dan tidak formal untuk
perancangan strategik, dengan halangan utama kepada pelaksanaannya adalah
rancangan dalam fikiran pemilik, tidak realistik, sibuk, dan industri yang sukar
diramal. Dalam fasa kedua, hasil daripada temu bual dan kajian literatur, telah
ix
digunakan untuk membangunkan soalan-soalan, yang kemudiannya diuji dengan
menggunakan kajian soal selidik. Kajian soal selidik dikumpul secara kuantitatif
daripada sejumlah 133 PKS dalam industri pembinaan mengenai amalan
perancangan strategik dan faktor-faktor yang mempengaruhi penggunaannya.
Beberapa teknik statistik bukan parametrik digunakan untuk menganalisis data,
termasuk indeks relatif dan analisis faktor. Faktor-faktor yang mempengaruhi
perancangan strategi telah dikenalpasti dengan menggunakan kaedah indeks relatif
(RI). Analisis ini mendedahkan bahawa lima (5) pembolehubah yang dianggap faktor
pengaruh utama kepada perancangan strategik adalah pekerja, pasaran, teknologi,
projek, dan kewangan. Di samping itu, empat (4) halangan termasuk pengurusan,
organisasi, perancangan, dan isu-isu industri boleh menjadi penghalang kepada
keberkesanan proses pelaksanaan perancangan strategik. Seterusnya, kajian ini
membangunkan satu model generik bagi perancangan strategik untuk PKS dan
model ini telah dinilai oleh pengamal industri pembinaan. Model yang dicadangkan
menyediakan asas untuk organisasi pembinaan PKS bagi melibatkan diri dalam
proses perancangan strategik untuk meningkatkan prestasi organisasi mereka.
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TABLE OF CONTENTS
TITLE i
DECLARATION ii
DEDICATION iii
ACKNOWLEDGMENT iv
ABSTRACT vi
ABSTRAK viii
TABLE OF CONTENTS x
LIST OF TABLES xvii
LIST OF FIGURES xx
LIST OF ABBREVIATIONS xxii
LIST OF APPENDICES xxiii
CHAPTER 1 INTRODUCTION 1
1.1 Research Background 1
1.2 Problem Statement 4
1.3 Research Questions 7
1.4 Resesarch Aim and Objectives 7
1.5 Significance of the Research 8
1.6 Scope of the Research 9
1.7 Research Methodology 9
1.8 Structure of the Thesis 15
1.9 Conclusion 15
xi
CHAPTER 2 STRATEGIC PLANNING IN SMALL MEDIUM
ENTERPRISE (SME) IN THE CONSTRUCTION
INDUSTRY 17
2.1 Introduction 17
2.2 Overview of Strategy 17
2.2.1 Definition of Strategy 17
2.2.2 Level of Strategy 18
2.2.3 Types of Strategy 20
2.2.4 Competitive Strategy 21
2.2.5 Evolution of strategy 22
2.3 Definition of Strategic Planning 26
2.4 Strategic Planning 26
2.5 Strategic Planning Model 29
2.5.1 Formulation 29
2.5.1.1 Vision and Mission 30
2.5.1.2 Assessment 31
2.5.1.3 Strategy Formulation 33
2.5.1.4 Strategic Plan 36
2.5.2 Implementation 36
2.5.3 Evaluation 39
2.6 Barriers of Strategic Planning 40
2.7 Strategic Planning in the Construction Industry 44
2.8 Small Medium Enterprise (SME) 47
2.8.1 Definition 47
2.8.2 Characteristics of SME 48
2.9 Strategic Planning for SME in the Construction
Industry 50
2.9.1 Strategic Planning Process in SME 50
2.9.2 Influencing Factors 55
2.9.2.1 People 56
2.9.2.2 Technology 57
2.9.2.3 Sustainability 59
2.9.2.4 Political or Legal 60
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2.9.3 Competitive Strategies for SME 61
2.9.3.1 Cost Leadership 61
2.9.3.2 Differentiation 64
2.9.4 Barriers of Strategic Planning 65
2.9.4.1 Organisational 67
2.9.4.2 Planning 69
2.9.4.3 Managerial 70
2.9.4.4 Industry 73
2.10 Methods to Improve Strategic Planning Application 74
2.11 Gap in the Literature 76
2.12 Development of Conceptual Model of Strategic Planning 78
2.13 Conclusion 80
CHAPTER 3 RESEARCH METHODOLOGY 81
3.1 Introduction 81
3.2 Research Paradigm 81
3.2.1 Pragmatic 82
3.3 Research Methodology Process 83
3.4 Methodology Adopted for the Research 85
3.4.1 Sequential Exploratory Mixed Method 86
3.5 Research Reliability and Validity 88
3.6 Data Collection 89
3.6.1 Interview 90
3.6.1.1 Respondents 90
3.6.1.2 Interviews Techniques 91
3.6.1.3 Interview Analysis 92
3.6.1.4 Limitations of the Interviews Research 94
3.6.2 Questionnaire 94
3.6.2.1 Respondents 94
3.6.2.2 Design of the Questionnaire 95
(a) Questionnaire Development 96
(b) Selection of Variables 97
3.6.2.3 Questionnaire Data Analysis 101
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3.6.2.4 Limitations of the Questionnaire 101
3.7 Conclusion 102
CHAPTER 4 INFLUENCING FACTORS FOR SME STRATEGIC
PLANNING 103
4.1 Introduction 103
4.2 Sample Demographic 103
4.3 Strategic Planning in SMEs 106
4.3.1 Strategic Positioning 106
4.3.1.1 Client Prioritisation 108
4.3.1.2 Financial Maximisation 109
4.3.1.3 Market Segmentation 111
4.3.1.4 Quality Perfection 113
4.3.1.5 Accreditation 115
4.3.2 Strategy Formulation 116
4.3.3 Strategy Implementation 122
4.3.4 Strategy Evaluation 123
4.4 Influencing Factors of SMEs’ Strategy 124
4.4.1 Staff 125
4.4.1.1 Staff Shortage 126
4.4.1.2 Skill Shortage 126
4.4.2 Government 128
4.4.3 Sustainability 129
4.4.4 Market 131
4.4.5 Safety 131
4.4.6 Client 132
4.4.7 Financial 133
4.4.8 Technology 134
4.5 Barriers to Strategic Planning 135
4.5.1 Managerial Issues 136
4.5.2 Planning Consequences 141
4.5.3 Organisational Issues 143
4.5.4 Industry Complexity 145
xiv
4.6 Methods to Improve Strategic Planning 148
4.6.1 Concept Simplicity and Flexibility 149
4.6.2 Staff Prioritisation 150
4.6.3 Promotion 151
4.6.4 Market Knowledge 152
4.7 Summary of the Findings 153
4.8 Conclusion 155
CHAPTER 5 STRATEGIC PLANNING IN SMEs 156
5.1 Introduction 156
5.2 Pre Test Questionnaire 156
5.3 Creation of Dataset 157
5.4 Questionnaire Survey 157
5.5 Reliability of Survey Instrument 158
5.6 Validity of Survey Instrument 159
5.7 Questionnaire Survey Findings 160
5.7.1 Demographics 160
5.7.2 Strategic Planning Process 163
5.7.2.1 Strategy 164
5.7.2.2 Strategic Planning 166
5.7.2.3 Strategy Formulation 168
5.7.2.4 Influencing Factors 169
5.7.2.5 Competitive Strategy 170
5.7.2.6 Strategy Implementation and Evaluation 174
5.8 Strategic Planning Barriers 176
5.9 Exploratory Factor Analysis 178
5.9.1 Factor Analysis for Strategic Planning Barriers 179
5.10 Summary of the Findings 184
5.11 Conclusion 186
xv
CHAPTER 6 THE DEVELOPMENT OF STRATEGIC PLANNING
CONCEPT PROCESS MODEL FOR SMEs 187
6.1 Introduction 187
6.2 Strategic Planning Process 187
6.2.1 Strategy Formulation 190
6.2.2 Strategy Implementation 196
6.2.3 Strategy Evaluation 197
6.3 Influencing Factors and Barriers of Strategic Planning 198
6.3.1 Influencing Factors of Strategic Planning 198
6.3.2 Barriers to Strategic Planning 200
6.4 Development of Strategic Planning Model for SMEs 202
6.4.1 Phase 1: Pre-development 202
6.4.2 Phase 2: Conceptual Model 204
6.4.3 Phase 3: Model Modification 205
6.4.4 Phase 4: Model Validation 208
6.4.4.1 Strategic Formulation Process 209
6.4.4.2 Strategic Planning Model for SMEs 211
6.5 Conclusion 213
CHAPTER 7 CONCLUSIONS AND RECOMMENDATIONS 214
7.1 Introduction 214
7.2 Summary 214
7.2.1 Research Objective One: To investigate the extent
of the use of strategic planning in SME in the
construction industry 215
7.2.2 Research Objective Two: To identify the influencing
factors to strategic planning in SME in the
construction industry 216
7.2.3 Research Objective Three: To identify the barriers to
strategic planning implementation in SME in the
construction industry 216
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7.2.4 Research Objective Four: To design and develop a
model of strategic planning for SME in the
construction industry 217
7.3 Conclusions 219
7.4 Contribution to Knowledge 220
7.5 Limitation of the Research 222
7.6 Recommendations for Future Research 222
7.6.1 Recommendations for Researchers 223
7.6.2 Recommendations for Industry Practitioners 223
7.7 Concluding Remarks 224
REFERENCES 225
APPENDICES
xvii
LIST OF TABLES
2.1 Example of Organisation Mission Statement 31
2.2 SWOT analysis 32
2.3 Hart’s Strategy Making Model 34
2.4 Action Plan Template 37
2.5 Factors that Influence Planning 41
2.6 Barriers to Strategy Implementation 42
2.7 SMEs Based on Employees and Turnover 47
2.8 Characteristics Differences Between Large and SME
Organisations
49
2.9 Essential Steps in SMEs Strategy 50
4.1 Respondent’s Details 104
4.2 Firm Demographics 104
4.3 Sample Interviewees 105
4.4 Mean Years of Organisations Operation 106
4.5 Organisation Strategic Positioning 108
4.6 Competitive Strategies for Client Prioritisation 108
4.7 Competitive Strategies for Financial Maximisation 110
4.8 Competitive Strategies for Market Segmentation 112
4.9 Competitive Strategies for Quality Perfection 113
4.10 Competitive Strategies for Accreditation or Qualification 115
4.11 Formal vs Informal Strategy Formulation 116
4.12 Strategy Planner within Organisations 118
4.13 Tool or Software for Strategic Planning Process 120
4.14 Planning Duration 121
4.15 Strategy Evaluation Frequency 123
4.16 Factors Influencing Strategic Planning in SMEs 125
4.17 Managerial Issues Barriers 136
xviii
4.18
Planning Consequences
142
4.19 Strategies for Resources Constraint 144
4.20 Strategies for Time Constraint 145
4.21 Industry Complexity 146
4.22 Strategic Planning Improvement 149
4.23 Staff Prioritisation for Improvement 151
4.24 Promotion for Improvement 151
4.25 Market Knowledge for Improvement 152
4.26 Summary of Interview Findings 154
5.1 Rate of Response and Non-return 158
5.2 Cronbach’s Coefficient α for Research Constructs 158
5.3 Respondents by Australian State or Territory 160
5.4 Respondents by Professions 161
5.5 Organisation Characteristics 161
5.6 Comparison of Organisation Turnover 163
5.7 Relative Index Ranking Strength 164
5.8 RI for Organisation Long Term Plans 167
5.9 RI for Strategy Formulation 169
5.10 RI for Competitive Strategies 173
5.11 Top Three Competitive Strategies by Organisations’ Size 174
5.12 RI for Strategic Planning Barriers 178
5.13 KMO and Bartlett's Test for Strategic Planning Barriers 179
5.14 Explained Percentage of Variance for Strategic Planning Barriers 179
5.15 Factor Analysis of Strategic Planning Barriers 181
5.16 Factor Loading of Strategic Planning Barriers 182
5.17 Reliability Test of Strategic Planning Barriers 183
5.18 Summary of Questionnaires Findings 184
6.1 Competitive Strategies Amongst SMEs 195
6.2 Barriers to Strategic Planning 200
6.3 Strategic Planning Barriers in SMEs 203
xix
6.4 Evaluation Respondents’ Details 209
6.5 Level of Agreement 209
6.6 Evaluation Results 210
6.7 Strategic Planning Model Variables 212
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LIST OF FIGURES
1.1 Overview of the Research Methods, Activities, and Output 12
2.1 Levels of Strategy 19
2.2 Competitive Strategy 22
2.3 Structure-Conduct-Performance Framework 23
2.4 Strategic Planning Model 30
2.5 The Process of Strategy Formulation 34
2.6 Four Categories of Barriers to Strategy Implementation 43
2.7 Western Adaption for Asian Strategic Planning Model 46
2.8 Information Flows in SMEs 52
2.9 The Environment of the SME 53
2.10 Influencing Factors in Construction Organisation 55
2.11 Lack of Strategic Planning in SMEs 65
2.12 Strategic Planning Barriers in SME 67
2.13 Organisation Size and Strategy Making 69
2.14 Owner or Manager’s Motivation Affect to Strategic Planning 71
2.15 Construction Business Cycles 74
2.16 Gap in the Literature 76
2.17 Conceptual Model of Strategic Planning 79
3.1 Research Methodology Process 84
3.2 Mixed Method Procedure 87
3.3 Data Theme Process using NVivo 93
4.1 Strategic Positioning 108
4.2 Factors Influencing Strategic Planning in SMEs 125
4.3 Barriers to Strategic Planning in SMEs 135
4.4 Strategic Planning Improvement 148
5.1 Strategy within Organisation 165
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5.2 Long Term Plans 166
5.3 Strategy Formulation 168
5.4 Strategic Planning Influencing Factors 170
5.5 Competitive Strategies 172
5.6 Strategy Implementation and Strategy Evaluation 175
5.7 Strategic Planning Barriers 177
5.8 Scree Test Criterion for Strategic Planning Barriers 180
6.1 Strategy Planning Variables 188
6.2 Strategy Formulation Process 191
6.3 Strategy Implementation 196
6.4 Strategic Evaluation 197
6.5 Barriers to SMEs’ Strategic Planning SME 201
6.6 Strategic Planning Concept Process Model for SMEs in the
Construction Industry
206
7.1 A Final Strategic Planning Model for SMEs 218
7.2 Contribution of the Developed Model to SMEs 221
xxii
LIST OF ABBREVIATIONS
ABS Australian Bureau of Statistics
IBS Industrialised Building System
JKR Jabatan Kerja Raya
PEST Political, Economic, Social, Technological
SME Small Medium Enterprise
SPSS Statistical Package for Social Sciences
SWOT Strength, Weakness, Opportunity, Threat
xxiii
LIST OF APPENDICES
APPENDIX TITLE
A Semi-structured Interview Question
B Questionnaire
C Model Evaluation Questionnaire
D Correlation
E Relative Index
1
CHAPTER 1
INTRODUCTION
This chapter presents the background and overall content of the whole thesis. It
begins with a discussion about research background and problem statement. It
continues with reviewing of research questions, aim and objectives, research
methodology, and significance of research. Lastly the chapter describes the structure
of the thesis.
1.1 Research Background
The concept of strategic planning was originated in the 1950s and became popular
between mid-1960s and mid-1970s. During 1950s, Strengths Weaknesses
Opportunities Threats (SWOT) analysis dominated strategic planning process. Then,
in earlier 1960s, qualitative and quantitative models of strategy replaced SWOT
analysis. In late 1960s, Boston Consulting Group (BCG) offered a new look to
strategic planning, which views organisation as a portfolio of business. In early
1980s, the shareholder’s value model and the Porter’s Five Forces model became the
standard model for strategic planning. The later stage of the 1980s was dictated by
strategic intent and core competencies, and market-focused organizations.
Furthermore, in the 1990s, business transformation model became popular in the
strategic planning concept. The business transformation model is focused more on
organisational adaptability to change, learn, and think. In 2000s the model of
strategic planning evolved to response to dynamism of environment conditions (Hax
& Majluf, 1991; Gouillart, 1995; Bonn & Christodoulou, 1996; Chinowsky, 2001;
David, 2001, Ocasio & Joseph, 2008; Mitchell & Pollard, 2014).
2
Strategic planning is a long term planning process. This process focuses on
formulating organisation strategies and methods to achieve those strategies. The
strategy formulation is concerned with current decisions made by organisations that
will have effect on the business future. Similarly, strategic planning is about
organisational change or paradigm shift. Paradigm shift requires organisation to
change current thinking and doing thing to other method for better results. This
change is substantial for organisation success when the current practises are proven
unreliable. For example, due to the inability of traditional short term planning
process to respond to industry’s uncertainty and complexity, organisations should
have change their planning practice to long term planning such as strategic planning.
This is due to strategic planning helps organisations anticipate and lessen adverse
influences in the market environment (Taylor, 1973; Betts & Ofori, 1992; Banham,
2010).
Originally, the concept of strategic planning was originated for
manufacturing industry and subsequently was introduced to construction sector.
Similar to manufacturing industry, the need for strategic planning to construction
sector is important due to it encourages long term planning. The need for a strategic
planning for construction organisations has long been stressed by numerous
researchers (Betts & Ofori, 1992; Warszawki, 1996; Chinowsky & Meredith, 2000;
Dikmen & Birgonul, 2003; Ssegawa, 2004). Construction organisations should shift
their traditional short term planning to a long term due to the uncertainty and
complexity of the construction industry (Lu, 2010). Due to the uncertainty and
complexity of the sector, the construction has been considered as a unique industry
(Holt, Love & Li, 2000; Price, 2003; Dansoh, 2005). The uniqueness makes the
construction industry vulnerable, difficult to manage, and less competitive. However,
to remain competitive, an organisation must quickly recognise the changes in
environment, be flexible enough to respond to the changes, and understand its own
capabilities (Holt et al., 2000). Junnonen (1998) asserts that when dealing with a
changing environment, strategy is important to organisations.
The changing environment has occurred due to numerous variables that can
influence the construction industry. Some of these influenced variables are
technology, people or workers, government policies, and sustainability issues (Lee,
1991; BDW, 2006; Chinowsky et al., 2007; KPMG, 2008). However, these four (4)
influenced variables can be analysed, reduced, exploited, and addressed using
3
strategic planning concept. Strategic planning should make the organisation
becoming more ‘strategic’. That is being able to meet the challenges of a changing
environment by stimulating strategic thinking and strategic analysis (Senge, 1990;
LaPiana Associates Inc, 2004). For instance, construction organisations need to be
vigilant to survive in the future due to the greater pace of technological changes than
before. Perkowski (1988) suggests three (3) strategies related to strategic planning
that organisations need to do to lessen the effect of technological changes. The
strategies are (i) eager to understand change, (ii) adopt a systems approach to
management to control change, and (iii) pursuit a clear competitive advantage
strategies.
In addition, as an advocate of long-term planning, Bovis Lend Lease took full
advantage of the 2008’s global financial turmoil despite other construction
organisations struggled to remain competitive (ABC, 2008). Bovis Lend Lease has
strategically planned to invest in long-term projects and gains good returns over
long-term. Therefore, the company has acquired long-dated United Kingdom (UK)
pipeline projects from 2012 to 2020 and are still looking for other international
opportunities to make a future investment. The implementation of strategic planning
generally has a positive effect on organisation performance (Robinson & Pearce,
1983; Sandberg et al., 2001). Strategic planning implementation can effect
organisation performance in financial (e.g. profit) and non financial (management)
aspect. Even though there is weak evidence on the direct relationship between
strategic planning and organisation financial performance. In addition, nobody can
argue that strategic planning encourages knowledge dissemination across
management and organisation, and this is the greatest advantage of the concept
(Quintas et al., 1997; Drew, 1999; Houben et al., 1999; Shankar et al., 2003).
Furthermore, Lyles et al. (1993) found a positive relationship between formal
(strategic) planning and the growth rate of sales. Strategic planning is also closely
related to the survival of the business (Curtis, 1983; Andendorff et al., 2011).
Srivihok and Intrapairote (2004) state that SMEs can play key roles in the world’s
economy as the organisations have been contributing to economic growth and
employment and in many countries for years. In term of economic growth, SMEs
contribution to Australia’s Gross Domestic Products (GDP) expanded 3.0% in
December 2012 compared to December 2011 (WT Partnership, 2013). Despite that,
SMEs are related to high failure rate and poor performance. Many of them were
4
struggled to survive and some had failed within the first five years of their operation
(Fry & Stoner, 1995; HMC, 2013). For example, in 2005-2006, more than 80,000
SMEs businesses were forced to close down their operations. This high fatality rate
has been caused by the lack of any long-term planning and the lack of strategic
thinking (Analoui & Karami, 2003). They were unfortunate to be the victims of
unpredictable and ever changing market without coherent strategies.
Similarly, SMEs in the construction industry have a higher failure rate than
other types of organisations (Donkor, 2011). Lack of business and managerial
experience are two of the most influential factors of failure for SMEs in the
construction industry (Koksal &Arditi, 2014; Kivrak & Arslan, 2008). Therefore, for
construction SMEs to avert business failure risk, and remain competitive, the
conventional proposition indicates that the managerial people must develop a set of
strategic strength areas that are important to the environment in which they operate
(Koota, 2003).
In addition, SMEs focus on allocation of resources to achieve their maximum
short term advantage, which frequently leaves them to respond to external influences
as they occur rather than taking a proactive approach (Banham, 2010). In this ever
changing era, short term planning, such as daily operations and occasional business
plan were not be sufficient to ensure future survival (Sandberg et al., 2001; Banham,
2010). This argument has been supported by findings of various researches which
showed that the best way organisations can respond and address to ever changing
market was by applying strategic planning (Jocumsen, 2004; Srivihok & Intrapairote,
2004; Wang et al., 2007). Therefore, the researcher feels a need to review the nature
of strategic planning application within SMEs in the construction industry.
1.2 Problem Statement
SMEs have been facing survival challenges for years and many of them have failed
to survive. For example, in Australia, 12.2% of employing micro businesses exited in
years 2005 to 2006, compared to 7.6% of small and 6.1% of medium sized
employing businesses (CRA, 2007: Australian Government, 2011). Likewise, after
the economic crisis in 1997, many SMEs were bankrupted and wiped out from the
5
business economy (Srivihok & Batanov, 2005). SMEs that entered the market had
only 81 percent chance of surviving beyond next two years (Fry & Stoner, 1995;
CRA, 2007; HMC, 2013). In addition, at 2011, 223,100 existing SMEs in the
Australian construction industry only have 60 percent of survival rate to remain in
operation for the next five years (Australian Government, 2012).
Construction organisations, especially SMEs are particularly vulnerable to
bankruptcy due to the fragmented nature of the industry, excessive competition,
relatively low entry barrier, high uncertainty and risk involved, and unpredictable
fluctuations in construction volume (Wong & Thomas, 2010). According to Wong
and Thomas (2010) a slump in the Hong Kong construction industry has resulted
bankruptcy of many construction organisation. According to CCH (2013), key
factors for this failure include inexperienced management, a poorly-designed
business model, and insufficient capital. Additionally, the failure is also closely
related to poor management, owner or manager motivation, bad decision and
performance by SMEs (Perry, 2001; HMC, 2013).
All these failure factors were strongly influenced by an inability of
construction SMEs to respond to competitive pressures, rapid technological change,
volatile markets, burgeoning regulation, and managers’ own lack of foresight
(Jocumsen, 2004). For example, some of SMEs in the construction industry were
victim of unfortunate and unpredictable construction environment and they were
without competitive strategy. Nevertheless, according to Fry and Stoner (1995),
majority of SMEs have failed due to the lack of foresight and planning process by
their managers. Lack of foresight, less of planning process, inexperienced
management, a poorly-designed business model by SMEs managers can be addressed
using a reliable model that allow managerial personnel to assess the current
construction industry environment and predict future industry condition.
Therefore, Perry (2001) and Pinget (2014) suggest that SMEs organisations
should engage in strategic goals and planning activities to enhance their chances of
survival and success. SME intending to survive and succeed in the competitive
construction industry must develop and evolve corporate and business strategy
(Andendorff et al., 2011). Ofori and Toor (2012) also encourage SMEs in the
construction industry to be strategic in orientation and better able to deal with risk
and uncertainty to attain greater performance. Andendorff et al. (2011) suggest that
to maintain competitive advantages, the construction SMEs should also adopt either
6
a low-cost strategy or any other strategy to ensure that the company’s order book is
constantly at a certain acceptable level. As the firm grows, owner or managers need
to adjust their managerial behaviour, becoming more formal in terms of operational
and strategic planning (Mazzarol et al., 2009).
Strategic planning model and guideline should be applied by SMEs in the
construction industry to facilitate their growth and development. Even though no
actual statistics of success stories of SMEs using strategic planning, several studies
had showed construction SMEs that implement strategic planning process usually
outperform and outlast those that do not used it (Lyles et al., 1993; Andendorff et al.,
2011). Likewise, others researchers have clearly shown that the nature of strategic
planning process has an important effect on the performance of the firm (Greenly,
1994; Kraus et al., 2006). Shifting from current short term to strategic planning will
improve the future efficiency and performance of SME in the construction industry
(Taylor, 1973; Betts & Ofori, 1992; HMC, 2013). In order to assist and guide
construction SMEs develop various strategies, an appropriate strategic planning
model that consist of strategies formulation and implementation process should be
developed specifically for them.
Unfortunately, most of SMEs in the Australian construction industry are
reluctance to engage strategic planning in their organisations despite all its
advantages. Considerable research efforts have been expended on identifying this
reluctance that hinder strategic planning implementation in SME for years (Sandberg
et al., 2001; O’regan & Ghobadian, 2002; Beaver, 2003; Wang et al., 2007; Tourna
& Germanos, 2000). For example, the organisation owners, whether they are
reluctant or ignored to engage the strategic planning in their organisations, is one of
the main barriers. Irwin (1974), Wang et al. (2007), and Hannah (2009) argue that
strategic planning is neglected because owners or managers tend to concentrate on
present market and product, thus fail to anticipate change and find new opportunities.
Similarly, there was lack of strategic planning model for SMEs available
within normative literature (Betts & Ofori, 1992; Warszawski, 1996). In addition,
there is dearth of research investigating the strategic planning process from the
perspective of SMEs in the Australian construction industry. Taking all the previous
discussions into consideration, the research intends to propose an appropriate
strategic planning model for SMEs in the construction industry. It also focuses on the
importance of strategic planning, and the main factors that influencing strategic
7
planning. In addition, the research discusses the possible impacts of strategic
planning to construction SMEs. The reasons on why construction organisations are
reluctant to embrace strategic planning as well as it barriers are identified. With the
assistance of this model, hopefully SME can remain competitive and survive for the
long period of time.
Ideally, every SME should have strategic planning model within their
organisation, however, most of the Australian SMEs are reluctance to embrace the
concept. As a result, many of these SMEs had failed and exited the business within
five years of their operation.
1.3 Research Questions
Specific research questions for this research are:
(i) How is the development of strategic planning application among SME in the
construction industry?
(ii) What are the influencing factors to strategic planning in SME in the
construction industry?
(iii) What are the barriers that hinder SME construction organisations from
implementing strategic planning in their business?
(iv) What is an appropriate strategic planning model for SME in the construction
industry?
1.4 Research Aim and Objectives
The aim of the research is to develop an appropriate strategic planning model for
SME. Specific objectives for this research are:
(i) To investigate the extent of the use of strategic planning in SME in the
construction industry;
(ii) To identify the influencing factors to strategic planning in SME in the
construction industry;
8
(iii) To identify the barriers to strategic planning implementation in SME in the
construction industry; and
(iv) To design and develop a model of strategic planning for SME in the
construction industry.
1.5 Significance of the Research
This research will lead to broader and in-depth understanding of strategic planning in
construction. It will focus on the importance of strategic planning, the main factors
that influence strategic planning, and it will discuss the possible impacts of strategic
planning to construction companies. It will unveil the reasons why construction
companies are reluctant to embrace strategic planning within their business. In
addition, although a great deal of work has been carried out on strategic planning
various industries, there has been a lack of study reported on strategic planning in the
construction industry. This study will further add to the literature by identifying the
barriers that hinder construction organisations from implement strategic planning in
their business. Thus, it is noted that this research will make significant theoretical
contributions.
From the practical point of view, it is expected that a better understanding of
strategic planning in the construction industry especially in SMEs. It should be noted
that most of the literature and discussions on SMEs were in regards to other
industries. This study is expected to give a clear picture of how strategic planning
could be applied by SMEs in the construction industry. Thus, the research can assists
the SMEs to understand how strategic (long term) planning could make an
organisation succeed. Also, this research will develop and propose a new strategic
planning model in the construction industry to assist SMEs. The appropriateness of
the model will be evaluated for validity. The proposed model will suit a
contemporary construction environment within the structure of, political, people,
sustainability, and technology constraints. Top level management personnel such as
owner and manager, especially in medium enterprises can use the findings of the
model to refine their thinking about strategy and strategy formulation which can be
used as an input for the strategic planning at the organisational and national level.
9
Thus, information provided by the findings of the research could benefit
organisation’s decision makers, in assisting contractors to use the environment to
their advantage, and become better companies. With the application of this model,
SMEs in the construction industry can remain competitive, survive for the long
period of time, and fulfil company’s mission and vision.
1.6 Scope of the Research
The research scope and respondents for this study will be revolved around SMEs in
the construction industry. Western Australia, more specifically Perth is the location
for gathering data for the interview. Meanwhile, the data collection for the
questionnaire is done throughout Australia wide. In addition, the respondents for this
research were top level management personnel including owner, director, CEO,
whose were involved directly in daily operation of SMEs.
1.7 Research Methodology
In addressing the research objectives, an understanding of the nature of strategic
planning in construction industry and its barriers were needed. Thus, this research
combined several methods. The methods are literature review, interview,
questionnaire, model development, and validation. Figure 1.1 illustrates the
relationship between selected research methods and output of the related activities.
(a) Literature Review
This research begins with reviewing the existing literature in strategic planning to
build a broad knowledge in the area. The literature review also enables the researcher
to clarify and focus the research problem, research objectives, and then, to design an
10
appropriate research methodology for the research. A limited study had been
undertaken to address strategic planning application in construction industry
especially in small medium organisations (SMEs). Taking this into consideration, an
operational definition of strategic planning in construction is needed. For the purpose
of the research, strategic planning was defined as:
“a process of generating long term strategy by analysing the internal
and external environment factors, and thus, developing suitable
procedures to achieve those strategy”
In addition, the literature review was used to identify factors and barriers that
generally influenced the application of strategic planning in SMEs in the construction
industry. The literature review was a continuous process, and carried out
simultaneously with all stages in the research project.
(b) Interview
The objectives of the interview were to obtain in-depth knowledge about the practice,
the influence factors, and barriers of strategic planning in SMEs. It will be based
upon conceptual model and face to face semi structured interviews with top and
senior management individuals. The findings from the interviews will be used to
identify and develop variables for a questionnaire survey. The interview was done as
the following processes:
Selection of participants
The selection of these respondents will be based random sampling, which they will
be selected randomly. All the participants were willingly agreed to participate in the
interview process to share their knowledge and experience. The participants are top
and senior management individuals (for example, managing directors, project
managers, and project planners).
11
Data collection
Data collection involved face-to-face semi-structured interview with the participants.
The interview process was digitally recorded and then verbatim transcribed. The
interviews are intended to take approximately 30 minutes to 1 hour, depending on the
participant. Similarly, the time and place of the interview is subject to the
participant’s choice. The questions of the interview were categorised into two major
heading; (1) Strategic Planning Application, and (2) Barriers of Strategic Planning.
Data analysis
Data analysis was concerned with gathering information on the nature of strategic
planning in the SMEs and barriers that influenced its application in the construction
industry. Data from the interviews was transcribed verbatim, the analysed and
managed using NVivo software. Key themes that emerged from the data were
summarised and selected quotes were presented when applicable. The results
(variables) from this analysis were used to develop variables for questionnaire
survey.
(c) Questionnaire Survey
The aim of the questionnaire survey is to achieve Objective 2 and Objective 3 of the
research. The primary propose of the questionnaire is used to verify the observation
that were drawn from the literature and interview by testing the appropriateness of
the identified research variables. The research variables were then be tested,
confirmed, and used to develop a model of strategic planning for contracting SMEs.
12
Model Evaluation
Investigate the extent of
the use of strategic
planning in SME
construction
organisations
Identify the influencing
factors to strategic
planning in SME
construction
organisations
Identify the barriers to
strategic planning
implementation in SME
construction
organisations
Interview
Refine and improve
the model
Questionnaire
Re-visit the current
issues in the use of
strategic planning in
the construction
industry.
Re-confirm potential
factors that influence
barriers to strategic
planning in
construction
Re-confirm the
barriers to strategic
planning
implementation in
SME construction
organisations
Investigate the extent of
the use of strategic
planning in SME
construction
organisations
Identify the influencing
factors to strategic
planning in SME
construction
organisations
Identify the barriers to
strategic planning
implementation in SME
construction
Review the current
issues in the strategic
planning application
in the SME
construction
organisations
Potential factors that
influencing the
strategic planning in
construction
Discover the barriers
to strategic planning
implementation in
SME construction
organisations
Evaluate the
appropriateness of the
model.
Literature Review
Research context in
implementation of
SME’s strategic
planning in the
construction industry.
Review existing
literature of the nature of
SMEs’ strategic
planning in the
construction industry.
Research Methods Activities Output
Figure 1.1: Overview of the Research Methods, Activities, and Output
Model Development
Design and develop a
model of strategic
planning for SME
construction
organisations
Strategic Planning
Model for SMEs in
the construction
industry
13
Identification of organisations
The identification of construction organisations focuses on small and medium
enterprises (SMEs). A simple random sampling technique was applied to select the
participants because it is difficult and perhaps impossible to determine the number of
construction organisations who are involved with the strategic planning in the
Australian construction industry. The information of the potential organisations was
derived from professional bodies, such as Master Builders Australia, Australian
Institute of Project Managers and Australian Institute of Building, and will be
augmented from Yellow Pages.
Data collection
Data collection involved distribution of postage and electronic mail (email)
questionnaire survey to selected organisations. The questions were organised under
five (5) headings including (1) Organisation characteristics, (2) Strategic planning
process, (3) Strategic planning barriers, and (4) Strategic planning improvement
process.
Data analysis
For comprehensive analysis, all the returned questionnaire surveys were analysed
using SPSS software. The data will be tabulated and further analysed with the use of
Descriptive, Correlation, Relative Index (RI), and Factor Analysis techniques.
Results from the questionnaire survey were used to design and develop a model of
strategic planning for SMEs in construction.
(d) Model Development
The development of strategic planning model for SMEs in the construction industry
is begun after questionnaire data was analysed. The following stages involved in the
development of the model:
14
Identification of variables
The results from literature review, interview, and questionnaire were used to develop
the basic variables and factors of strategic planning model for SMEs in the
construction industry.
Develop an initial model
A strategic planning model was developed using variables and factors derived from
the previous research methods. The model was categorised into two headings; (1)
Strategic planning process, and (2) Barriers to strategic planning. Strategy
formulation, implementation, evaluation, and influenced factors were under strategic
planning process. On the other hand, managerial, organisational, planning, and
industrial were variables under barriers to strategic planning category.
(e) Model Evaluation
The strategic planning model was evaluated by construction practitioners to assess its
appropriateness. The evaluation sheet of the model was sent via email to randomly
selected construction organisations. The evaluation process consisted of the
following stages:
Identification of construction practitioners
Distribution of evaluation sheet to selected practitioners
Evaluation of returned evaluation sheet
Discussion of feedback received
The relevant feedback received from the evaluation sheet was used to revise
and improve the strategic planning model.
15
1.8 Structure of the Thesis
The thesis is structured into eight chapters. Chapter 1 provides the background of the
thesis research. Chapter 2 gives an overview about the nature of strategic planning
and its importance to organisations. More specially, this chappter gives a depth
discussion on strategic planning in the construction industry particularly in SMEs. Its
barriers and how it absent from construction companies practices were discussed.
Chapter 3 describes the research design and methodology adopted in the research
such as the scope, sample selection, justification, validity, reliability of the interview
study and questionnaire phases of the research.
Chapter 4 presents a brief description of the qualitative study. The field study
comprises a series of interviews conducted among senior management from
construction organisations. Content analysis is used to analyse the data in this phase.
Based on the findings from the field study and the review of the literature, a final
model strategic planning is developed.
Chapter 5 give full account of the analysis, result and discussion of the data
obtained from the questionnaire. Chapter 6 uses the findings reported from the
interviews and questionnaire to develop a generic model of strategic planning that
can be used by SMEs. This chapter also discusses the validation process of the
strategic planning model by construction practitioners.
Finally, Chapter 7 provides the conclusions of the research exercise,
following the recommendations for interim implementation and further research.
1.9 Conclusion
The introduction chapter has provided brief review of the work in the thesis and
justification for the area of data collection. The research aims to explore the study of
strategic planning in SME, especially in construction organisations. The research
methodology, the thesis structure, its limitations were identified. Industry
practitioners from SME would potentially benefits from the generic model that is
deployed in this research. This model is purposely developed to suit the requirement
16
of SME in construction building organisations. The next Chapter 2 is going to
discuss a concept and nature of strategic planning process.
17
CHAPTER 2
STRATEGIC PLANNING OF SMALL MEDIUM ENTERPRISE (SME)
CONSTRUCTION ORGANISATIONS
2.1 Introduction
This chapter reviews the nature of strategic planning. It begins with a discussion of
strategy overview and it evolution. Following this, a definition, model and processes
of strategic planning are discussed. Then, the strategic planning in the construction is
defined and its application in SME is reviewed. This is followed by the discussion on
why many SMEs are reluctance to embrace the concept of strategic planning and
competitive strategies by SMEs. The chapter summarises the gap in the literature and
concludes with a development of conceptual model of strategic planning.
2.2 Overview of Strategy
No commonly accepted strategy definition due to disagreements within strategy
field. However, there is consensus that strategy deals with long term direction of an
organisation.
2.2.1 Definition of Strategy
Chandler (1962) and Johnson et al. (2007) define strategy as the determination of
basic long term goals and objectives of an enterprise. Chandler focuses his work on
18
how large organisations develop new administrative structures to accommodate
growth. Candler’s work also focuses on how strategic change leads to structural
change among various organisations.
Likewise, Ansoff (1965) defined strategy as common thread among an
organisation’s activities and product-markets. Learned et al. (1965) view strategy as
the pattern of objectives, purposes, policies, and plans. However, for the purpose of
this study, the strategy definition by Mintzberg is adopted. Mintzberg (1987) defined
strategy as a plan, which consciously intended course of action, a guideline to deal
with a situation. They are made in advance of actions and they are developed
consciously and purposely’
2.2.2 Level of Strategy
Organisation formulates strategy at several levels depending on its type, size and
nature of business. Organisation formulates the strategy to suit an overall business
direction and individuals working in it environment (Bowman & Asch, 1996; Lewis,
1999; De Kluyver & Pearce, 2006). Three common levels of strategy exists within
organisation are strategic, business, and project level as showed in Figure 2.1.
Corporate strategy (is the focus of this research), business strategy, and operation
strategy are crafted at these levels, respectively. These three strategies should be
linked from top to down in a systematic and hierarchical manner. That means these
strategies are disseminate from the corporate level through business and then project
level. This systematic dissemination of organisation strategy is to ensure cohesion
and effective method of communication of the strategy between these three levels
(Morris & Jamieson, 2005).
(a) Strategic Level
Strategic level is the highest level in any organisation structure, where an
organisation runs it business. This is the level that consists of top level management
people such as owner, directors, managers, and heads of departments. This level also
a crucial to organisation since it is heavily influenced by investors in the business
19
and acts to guide strategic decision making throughout the business. In addition, at
this level organisation determines and decides its purpose of existence by
formulating corporate strategy. Corporate strategy (or referred as strategic planning
for this research), which including vision, mission, objectives, strategies and plans
was crafted at this strategic level. Strategic planning is concerned with the overall
purpose and scope of the business to meet stakeholder expectations. It is a mean of
thinking through and articulating how an organisation’s corporate goal and
objectives will be achieved (Morris & Jamieson, 2005).
(b) Business Level
Following the strategic level is a business level, in which an organisation develops its
business unit strategy. Business unit strategy is concerned with deciding what
project, product or service organisation is to offer, how to manufacture or create it,
and finally how to marketing the product or project. Business strategy is more about
choice of projects, meeting need of customers, gaining advantage over competitors
and creating new opportunities (Bowman & Asch, 1996). For example, as
mentioned, to achieve competitive advantage over competitors, Porter (2004)
suggests generic strategies which organisations can pursue.
Figure 2.1: Levels of Strategy
(Author)
Corporate strategy
Business strategy
Operational strategy Project
Level
Strategic
Level
Business
Level
20
(c) Project Level
At the bottom rank in organisation’s structure is a project level, where operational or
project strategy is formulated and implemented. This operational strategy is
concerned with limited domain such as marketing, human resources, or technology.
However, the formulated and selected strategies (at strategic and business level) are
being translated into managerial actions at this level. Managerial actions are
concerned with putting plans into implementation to make things happen and work.
For instance, after a project has been selected, it needs to be managed and
implemented efficiently. This is due to without a good execution all the initial
endeavours will be in vain. In construction, for example, a project management
concept is used to manage project properly. The function of project management
includes defining the requirement of work, establishing the extent of work, allocating
the resources required, planning the execution of the work, monitoring the progress
of the work and adjusting deviations from the plan (Munns & Bjeirmi, 1996).
Organisations should look to the development and implementation of new and
creative business strategies to remain viable in the current competitive market.
Therefore, SMEs organisations should align project strategies and on the same track
with organizational strategies (Al-Ansari et al., 2014).
2.2.3 Types of Strategy
Generally, there are two types of strategy, namely deliberate and emergent. This is
due to strategy is formulated through deliberate and emergent action as illustrated in
Figure 2.2 (Mintzberg & Waters, 1985). Deliberate strategies (realised) are those
which are planned and executed by the management staff, and emergent strategies
(intended) that are the results of internal or external pressure (Mintzberg et al.,
1995). Emergent strategy is related to pattern of action that develops over time in an
organisation. This form of strategy is emerged over time as intentions collide with
and accommodate a changing reality in the absence of a specific mission and goals,
or despite a mission and goals (Mintzberg, 1994).
21
Price and Newman (2003) suggest that purely emergent strategies preclude
any planning and control; and purely deliberate strategies preclude learning. For
example, intended strategies emerge during the strategic planning process in
organisation, while realised strategies emerge from these over a period of time (Price
& Newman, 2003).
2.2.4 Competitive Strategy
The competitive strategies proposed by Porter (1985), which probably the most
widely known generic strategies are easy to understand and to apply (Weber & Polo,
2010). There are three competitive generic strategies proposed by Porter (1985)
including cost leadership, differentiation, and focus as illustrated in Figure 2.2.
(i) Cost leadership strategy
In cost leadership, organisation seeks strategy to become a low cost and less
expensive producer than its competitors, including production and distribution costs.
Organisation also seeks to obtain its profit through large sales volumes and practising
prices close to those of its competitors, with lower costs based on production scale
and learning curve, and reduced unit margins (Weber & Polo, 2010). Likewise,
Warszawski (1996) claims that organisations usually choose this strategy when the
environment is competitive, projects are uniform, and may develop a competitive
edge in some resources.
(ii) Differentiation strategy
In differentiation strategy, organisation aims to build up competitive advantage by
offering unique products and services, which an organisation seeks to be unique, to
differentiate from its rivals (Warszawski, 1996). With these differentiation features,
organisation provides additional values to customers which will reward them with a
premium price (Warszawski, 1996; Prajogo, 2007). In addition, differentiation
22
softens competitive rivalry due to brand loyalty by customers who are less sensitive
to price (Pheng et al., 2010).
Figure 2.2: Competitive Strategy (Pheng et al., 2010)
(iii) Focus
The final generic strategy, focus, rests on the choice of a narrow competitive scope
within an industry and on particular buyer group or segment. It also rests on the
premise that organisation has the ability to serve its narrow strategic target more
effectively and efficiency that competitors who are competing broadly (Pheng et al.,
2010). The focus strategy has two variants (refer Figure 2.2):
(a) Cost focus. An organisation seeks a cost advantage in its target segment, which
exploits differences in cost behaviour in some segments.
(b) Differentiation focus. An organisation seeks differentiation in its target segment,
which exploits the special need of buyers in certain segments.
2.2.5 Evolution of strategy
Strategy concept has traditionally focussed on business concept that affects
organisation performance and competitive advantage (Hoskisson et al., 1999; Larsen
Lower cost Differentiation
Competitive Advantage
Broad
Target
Narrow
Target Co
mp
etit
ive
Sco
pe
Differentiation
Differentiation Focus
Cost Leadership
Cost Focus
23
Figure 2.3: Structure-Conduct-Performance Framework (Pamulu, 2010)
et al., 2007). With regard to these matters, the Five Force model developed by Porter
(1980) has been dominated the strategy paradigms since the 1980s. This model has
its root in the structure-conduct-performance (SCP) framework by Mason and Bain
(Teece, 1984). The SCP framework is illustrated in Figure 2.3.
According to Pamulu (2010), the SCP framework views the structure of the
industry as the key determinant for potential profitability of the organisation (and
industry). The structure of the industry is also a primary aspect of the organisation’s
environment. The structure of industry is the major force to determine the conduct of
the organisation, which could influence the business performance. In addition, the
structure of industry may has directly influence the performance of the organisation.
Therefore, the competitiveness of organisation is highly influence by the structure of
the industry.
In addition, there are recent developments within strategy research with the
emergent other theories, which include the:
(i) Resource-based View (RBV)
Resource-based View (RBV) focuses on the relationship between an organisation’s
special competencies (resources) and its performance (Wernerfelt, 1984; Hoskisson
et al., 1999; Cho, 2013). In RBV concept, an organisation looks at resources rather
than products to generate a strategy. RBV is a strategic management theory that is
widely used in project management; it examines how resources can drive competitive
advantage (Almarri & Gardiner, 2013). RBV sought to explain superior performance
due to the organisation’s resources (Haugstad, 1999). Wernerfelt (1984) views
Industry
Structure
(S)
Firm Conduct
(C)
Performance
(P)
24
resources and products are two sides of the same coin for the organisation. Examples
of resources are brand names, in-house knowledge of technology, skilled personnel,
trade contracts, machinery, efficient procedures, and capital (Wernerfelt, 1984). The
conceptual work in this stream generally has focused on the characteristics of
organisation resources that can contribute to a sustainable competitive advantage
(Priem & Butler, 2001). According to McKelvie and Davidsson (2009) this
approach suggests that the attributes of these resources (i.e. if they are valuable, rare,
inimitable and non-substitutable) would confer upon the organisation competitive
advantage and, by implication, affect its performance.
(ii) Dynamic capabilities
Dynamic capability is concerned with the ability of organisation to achieve new
forms of competitive advantage (Teece et al., 1997; Barreto, 2010). In dynamic
capabilities, organisations integrate, build, and reconfigure internal and external
competences to address rapidly changing environment (Teece et al., 1997; Kor &
Mesko, 2013). Teece et al. (1997) see dynamic capabilities as an emerging and
integrative approach to understanding the newer source of competitive advantage in
demanding environment. Dynamic capabilities are the antecedent organisational and
strategic routines by which managers alter their resource base-acquire and shed
resources, integrate them together, and recombine them to generate new value-
creating strategies (Eisenhardt & Martin, 2000; Kor & Mesko, 2013).
Dynamic capabilities comprise four main processes: reconfiguration,
leveraging, learning and integration (Ambrosini et al., 2009; Vickery et al., 2013).
Reconfiguration refers to the transformation and recombination of assets and
resources. Leveraging refers to the replication of a process or system that is operating
in one area of an organisation into another area. The link between dynamic
capabilities and experiential learning is strong and persistent (Pandza & Thorpe,
2009). Learning allows tasks to be performed more effectively and efficiently, often
as an outcome of experimentation, and permits reflection on failure and success. In
addition, integration refers to the ability of the organisation to integrate and
coordinate its assets and resources, resulting in the emergence of a new resource base
(Ambrosini et al., 2009).
225
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