The creation & sustainment of competitive advantage, through strategic management, for a small construction company in Hong Kong by the name of Hsiang Tai Contracting Company Limited

Pao Yue-kong Library Electronic Theses Database

The creation & sustainment of competitive advantage, through strategic management, for a small construction company in Hong Kong by the name of Hsiang Tai Contracting Company Limited

 

Author: Yu, Tai-jor Gerald
Title: The creation & sustainment of competitive advantage, through strategic management, for a small construction company in Hong Kong by the name of Hsiang Tai Contracting Company Limited
Degree: M.B.A.
Year: 1994
Subject: Construction industry -- China -- Hong Kong -- Management
Strategic planning -- China -- Hong Kong
Hong Kong Polytechnic -- Dissertations
Department: Dept. of Management
Pages: 97 leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1152515
URI: http://theses.lib.polyu.edu.hk/handle/200/4335
Abstract: One of the corollary of Mr. Michael E. Porter's '5-force Competitive forces' model is that there are industries that are '5-star' business. An obvious way to gain success in business immediately appears to go into one of these '5-star' business. This cannot be an infallible solution, for otherwise no one will be conducting non '5-star' business. There may be problems associated with entry barriers, industry know-how and the industry itself may not be able to enjoy the monopoly forever. The scene is common place in life; the other side of the fence always looks greener until one reaches it. Indeed conducting business in an area where an entrepreneur is not familiar with amounts to an unrelated diversification and statistically we know the failure rate is high. What happens to entrepreneurs who have been working in a particular industry for a long time, have picked up many of the skills and knowledge related to the industry and realize that the industry is really a tough one. One of the entrepreneur's concern is "would he be able to achieve success in his business despite his effort to achieve?" An article by Mr. William K. Hall entitled 'Survival Strategies is in a hostile environment, gives us an answer to this question as follows:- "Despite a hostile environment characterized by slow, erratic growth and intensified competition, companies are able to achieve success with early and proper strategic re-positioning". Many of the small construction firms in Hong Kong are currently suffering and some of the main problems are as the following:- 1) Extremely low margin due to cut-throat competition. 2) Easy of entry to the industry and 3) Erratic business opportunity I have been active in the construction industry for nearly 20 years and have been well-trained in the industry and I am also a professional engineer. I am the CEO of a small interior/building contracting firm by the name of Hsiang Tai Contracting Co. Ltd. which I took over control in fall, 1987. My paramount objective of studying this MBA course is to improve the performance of Hsiang Tai and I equate the success of Hsiang Tai to my personal self-actualization. My objective in this report is as follows:- 1) Scan both the external and internal environment and establish a tentative competitive advantage model for Hsiang Tai, based on my experience and theoretical basis I have found. 2) Find out and analyse the competitive advantage models of successful construction firms of similar nature and size and revise Hsiang Tai's tentative model as necessary. 3) Establish a generalised model to create and sustain competitive advantages for a small construction company in Hong Kong. I believe this report will serve as a useful reference for anyone who wishes to embark on a small construction business of his own.

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