Strategic planning as practised by construction firms in Ghana
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Date
2002-12-12
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Abstract
Construction firms in Ghana like many other countries traditionally have given little formal attention to long-term planning strategies and tend to have a short- term attitude towards planning. With the economic and business planning framework shifting from the short-term and tactical towards the long-term and strategic, it has become necessary for construction firms in Ghana to re-direct the focus of their planning activities to reflect the balance between the strategic and the tactic in order to effectively address their long-term survival. Construction firms employ a large number of both skilled and unskilled labours. In times of economic recession construction companies that do not plan strategically tend to collapse putting many people out of job. It is against this background that this study was undertaken to:
i. Find out the perception of construction firms in Ghana of strategic planning.
ii. Identify the organisation structures put in place for the formulation and implementation of strategic plans and the factors considered in the formulation and implementation of such plans.
The study revealed that a majority of construction firms operating in Ghana do not perceive strategic planning as necessary for their survival.
The study also identified two main types of organizational structures used by construction firms in the country for the implementation of their strategic plans and sixteen factors that are considered in the formulation and implementation of such plans amongst which are:
i. financial standing of the firm ii. Political stability in the country and
iii. Aspirations of shareholder/owners of the firm
The study concluded that if the perception of the construction firms on strategic planning is to change and more construction firms are to undertake such planning, then there would be the need for education of all stakeholders in construction companies on the fundamentals of strategic planning and its associated concepts.
Description
A thesis submitted to the School of Graduate Studies,
Kwame Nkrumah University of Science and Technology in partial
fulfilment of the requirements for the award of Master of Science degree in Construction Management, 2002