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From crisis to opportunity: turnaround strategies of large Irish construction contractors during the period 2007-2015

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Show simple item record Tansey, Paul Spillane, John P. 2018-09-19T11:13:28Z 2018-09-19T11:13:28Z 2016
dc.description peer-reviewed en_US
dc.description.abstract The sudden change in environmental munificence level in the construction sector during the period 2007 – 2015 provides a natural experiment to investigate strategic and operating actions of firms, particularly during an environmental jolt. Statistics on business failures corroborate that neither academics nor practitioners have succeeded in guiding strategic action during periods of environmental jolt. Despite the recent increase of turnaround research in the general management domain, its use in the construction management realm remains underexplored. To address this research gap, five exploratory case studies of an ongoing PhD study were used to examine the turnaround strategies of construction contractors during a period of economic contraction and growth. The findings show that, although retrenchment is often considered to be a short-term strategy, this is clearly not the case; with the majority of contractors maintaining the strategy for 6-7 years. During the same period, internationalization became critical, with the turnaround process shifting towards strategic reorientation that altered the firms' market domain. The case studies further suggest that strategic and operational actions resonate quite well with contemporary practice-based approaches to strategy making. The findings provide valuable assistance for construction contractors in dealing with organisational decline and in developing a successful turnaround response. en_US
dc.language.iso eng en_US
dc.publisher ARCOM: Association of Researchers in Construction Management en_US
dc.relation.ispartofseries Proceedings 32nd Annual ARCOM Conference, P W Chan and C J Neilson (Eds.);pp. 582-591
dc.relation.uri Annual ARCOM Conference&v=&i=&b=b&p=12833#12833
dc.rights First published by ARCOM: Annual ARCOM Conference&v=&i=&b=b&p=12833#12833 en_US
dc.subject contemporary strategy en_US
dc.subject internationalization en_US
dc.subject organisational decline en_US
dc.subject retrenchment en_US
dc.subject turnaround strategies en_US
dc.title From crisis to opportunity: turnaround strategies of large Irish construction contractors during the period 2007-2015 en_US
dc.type info:eu-repo/semantics/conferenceObject en_US
dc.type.supercollection all_ul_research en_US
dc.type.supercollection ul_published_reviewed en_US
dc.rights.accessrights info:eu-repo/semantics/openAccess en_US

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