Best International Business Or Best Organizational Management
The business of contract construct consists of several high risks in terms of providing competition to the local companies where the global companies face various challenges. The prime and crucial factor of developing the significant competition is choosing the right and efficient tender to proceed with the contract construction.
As the environment and construction elements are different in several countries, the contractors have to go through several issues in developing the constructions and operate internationally. The international companies should have a huge history about their products where the efficiency of the companies is known internationally.
The benefits can get from the economies of scale having huge scope in economics. The increment in efficiency and Trustworthiness can enhance the company and workflow of the construction and engineer work more efficiently. But for the newcomers, there are several issues in terms of achieving the popularity in the world of international competitors.
There are several challenges, including technical and operational issues faced by international construction contractors in country India. The construction processes consist of several human ingenuity and innovative skills to be implemented in the construction project internationally. The main challenges are:
Linguistic and cultural barrier
The workers and management can face the linguistic and cultural issues where various workers from the various regions with different languages work in a single team.
However, the use of construction software internationally help to solve the problem easily and understand the multicultural teams with the details required in change the projects sharing application of multilingual interfaces.
The country like India which consists of the poor infrastructure might have the fewer technologies acquired where the investments in several components while doing construction work can have more expensive and lack of technologies can be responsible for spending more times to complete particular construction work.
The infrastructure of the construction in several countries is different and the raw materials used are also distinct for the construction work (Lee et al. 2018). Therefore, the contractors can consist of a lack of sufficient infrastructure, which makes the process of construction harder.
The new internal companies in India can face the bureaucratic hurdles which are existed in all the countries worldwide. Therefore, the operations are to be difficult in international construction companies having little familiarities in bureaucracy. Though the hurdles have no sense, it can cause several disadvantages to the newer organizations.
International constructors can face the corruption in every country. There is a very rare possibility where the country is corruption-free. Therefore, to enter the new countries, the contractors can have to face several wages and corruption issues where a huge percentage of resources to be invested in the country. Therefore, it can be responsible for undermining the growing economic and work against the civilians having negative interest.
The difficulty of arranging the finances is not so easy if the current is not on par with the particular nation. The stock and commodity market of those countries where there are no middle-class people, only having the rich and poor people having the huge disparity between them, are stuck (Zhao et al. 2018). Therefore, it creates more challenges to arrange the investments and provide confidence to the investors as well as the constructors. [Referred to Appendix 1]
The local companies get more favor than the international constructors as the construction landscapes are more familiar to the local construction companies and can understand the consumers’ base figuring out the workflow within the regulatory structures.
The local companies can have more edges in advantages about the political and socio-economical systems of the particular countries where the international construction companies with the contractors face severe issue without knowing those systems (businessperspectives.org, 2020).
The outcomes of the international contract constructions are the challenges faced by the companies can be solved by knowing and understanding those problems with providing several effective solutions. The outcomes show that international construction companies have to take the issues more seriously and know the market with the needs of consumers.
It is hugely recommended that entering the new country is not an easy task with as the competitive advantages are acquired by the local companies more (Mendy, 2018). But there may be several ways to get the advantages in international construction where the international finance can involve in the implementation of several projects.
Therefore, it is recommended to deal with the international finance involvement where the major infrastructure will conduct in several counters.
The foreign investment in the contract constructions can lead to the increase the demand of the construction worldwide where the people can know the company more deeply. It can also help to get several work opportunities to the proposed countries (Caputo et al. 2018).
The developing countries can have the lower costs in terms of doing a competition with foreign and local firms. It is highly recommended to have the presence of the huge number of international firms where they can offer the scope for transferring the development of local firms and up-gradation can take place in the construction industry.
The technologies can be transferred and used as the technological tool (techatlast.com, 2020).
The country like India can think most of the advantages as all the rules and regulations are known to the company, and the company has a reputation inside the home country which is not there in the other countries.
Therefore, creating popularity is playing a vital role in terms of entering the new countries and provides competition to the local firms in those countries. The major challenges also are faced by the companies’ n future too.
The resources shortages are consumers as the highlighted factor for the industry and the contractors himself. The studies consist of the arguments having the issues which are relevant in the development of the home countries. Otherwise, foreign countries will gain more profit than locals.
The globalization issue has to be considered very effective and solve the issues with the various aspects of culture and environment faced. The overarching issues can embrace all the issues in the development of the construction industry.
Caputo, A., Marzi, G., Pellegrini, M.M. and Rialti, R., 2018. Conflict management in family businesses. International Journal of Conflict Management.
Lee, J.Y.H., Panteli, N., Bülow, A.M. and Hsu, C., 2018. Email adaptation for conflict handling: A case study of cross‐border inter‐organisational partnership in East Asia. Information Systems Journal, 28(2), pp.318-339.
Mendy, J., 2018. Reflections on Employees’ Lived Experiences of Organisational Change.
Zhao, S., Papanastassiou, M., Bassiakos, Y., Sinani, E. and Pearce, R., 2018. Unfolding the intra-organisational perception gap in decision-making. In Contemporary issues in international business (pp. 171-189). Palgrave Macmillan, Cham.
businessperspectives.org, (2020), Analysis of organizational culture with denison’s model approach for international business competitiveness”, available at: https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/11640/PPM_2019_01_Wahyuningsih.pdf [Accessed on 1.3.2020]
techatlast.com,(2020), Challenges Faced By International Construction Companies, available at: https://techatlast.com/challenges-of-international-construction-companies/ [Accessed on 1.3.2020]
Appendix 1: Management toolkit in International construction