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Classification of innovation for strategic decision making in construction businesses

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  • Jay Na Lim
  • George Ofori

Abstract

Innovations in construction may be classified in several different ways. To encourage construction firms in Singapore to innovate, a practical approach is provided for the classification of innovations, in order to guide construction firms in their development of innovation strategies. A qualitative systems model, portraying the innovation behaviour of contractors, is developed and validated through Pearson correlation analysis and interviews. From interviews with 21 construction practitioners, the profit maximization goals of construction firms are shown to be a major driving force of innovation. Construction innovation should be classified in accordance with the types of benefits and returns that emerge from them, which makes the investment of money and effort in innovation worthwhile. Three classes of innovations were identified: innovations that consumers are willing to pay for; innovations that reduce contractors' construction costs; and innovations that encompass intangible benefits, thus providing contractors with competitive advantage.

Suggested Citation

  • Jay Na Lim & George Ofori, 2007. "Classification of innovation for strategic decision making in construction businesses," Construction Management and Economics, Taylor & Francis Journals, vol. 25(9), pages 963-978.
    • Handle: RePEc:taf:conmgt:v:25:y:2007:i:9:p:963-978
    DOI: 10.1080/01446190701393026
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    References listed on IDEAS

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    1. World Bank, 2004. "World Development Indicators 2004," World Bank Publications - Books, The World Bank Group, number 13890.
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    Cited by:

    1. Jan Bröchner, 2010. "Innovation in Construction," Chapters, in: Faïz Gallouj & Faridah Djellal (ed.), The Handbook of Innovation and Services, chapter 31, Edward Elgar Publishing.
    2. Seda Tan & Gulden Gumusburun Ayalp & Muhammed Zubeyr Tel & Merve Serter & Yusuf Berkay Metinal, 2022. "Modeling the Critical Success Factors for BIM Implementation in Developing Countries: Sampling the Turkish AEC Industry," Sustainability, MDPI, vol. 14(15), pages 1-28, August.
    3. Andrea Nagy & Carmen Mihaela Băbăiță, 2017. "Orientation Towards Innovation, Participative Decision-Making And Performance In Romanian Hotels," Revista de turism - studii si cercetari in turism / Journal of tourism - studies and research in tourism, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 24(24), pages 1-9, December.
    4. Nor’Aini Yusof & Ernawati Mustafa Kamal & Lai Kong-Seng & Mohammad Iranmanesh, 2014. "Are Innovations Being Created or Adopted in the Construction Industry? Exploring Innovation in the Construction Industry," SAGE Open, , vol. 4(3), pages 21582440145, September.

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