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|Title: ||Benchmarking UK Construction firms Value Added and Productivity performance|
|Authors: ||Baiden, Bernard K.|
|Issue Date: ||2009|
|Abstract: ||World-class organisations demonstrate international competitiveness and a capacity to both match and surpass the performance of the best-in-class global organisations. These organisations are able to emulate, match or exceed industry and other global leaders in their outputs and business practices. World-class performance can be demonstrated through comparisons with both competitors and best-in-class organisations from other industries. The performance and competitiveness of UK construction firms have been a cause for concern amongst industry watchers. Egan’s Rethinking Construction Report highlighted gaps in performance of UK construction companies in comparisons with other leading industries. After more than a decade of the Egan Agenda and the awareness about the need for sustained substantial improvements in the performance of construction firms, how do UK construction companies rate against the best –in-class in other sectors?
This paper explores the global competitiveness of UK construction firms using two main performance measures – Value Added and Productivity. Key performance related concepts and terms are defined and complemented with contextual review and data on Value Added and Productivity in the UK and Europe. Benchmark industries are identified for comparison with the performance of UK construction companies. An aggregate metric – the Composite Value Added is proposed incorporating Value Added and Productivity. The exploratory study presented in this paper concluded that UK construction companies lagged behind Oil & Gas Producers and Banks, who are the leaders of the benchmark sectors in the selected performance measures of Value Added and Productivity. UK construction firms can improve their Value Added and Productivity by increasing their sales volumes whilst reducing the costs of any bought-in services, among other strategies.|
|Description: ||An article published by academia.edu|
|Appears in Collections:||College of Arts and Social Sciences|
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