Development Of Competitiveness Indices For Indigenous Construction Firms In Nigeria

ABSTRACT

Competitiveness of indigenous construction firms plays a vital role in the economic development of any nation. The significance of competitiveness to economic development lies in the fact that it increases the level of profits earned by indigenous construction firms, thereby contributing to a nation‟s Gross Domestic Product (GDP). However, foreign construction firms dominate the Nigerian construction market on account of managerial and technological capabilities in which foreign construction firms have a significant comparative advantage. This research, therefore, aimed at developing a set of indices which can be used as a benchmark for evaluating the competitiveness of indigenous construction firms in Nigeria. The study adopted a quantitative research design. Questionnaire was used to elicit information from indigenous construction firms registered with the Nigerian Institute of Building (NIOB). Data obtained from the survey were analyzed using bar charts, tables, ranking analysis and correlation. Competitiveness indices were developed by means of the „weighted summation‟ a statistical tool for evaluating multi-criteria concepts. Forty significant competitiveness indices were developed in this research. The five most significant competitiveness indices for indigenous construction firms in Nigeria were: effectiveness of cost controlling methods, effectiveness of site management, method of procurement, effectiveness of time controlling methods and client relationship. Finally, this study recommended that indigenous construction firms should allocate sufficient resources to the competitiveness indices developed in this study in order to increase their chances of winning more jobs and ultimately significantly bridge the gap between them and their foreign counterparts. 

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APA

TUNJI-OLAYENI, P (2021). Development Of Competitiveness Indices For Indigenous Construction Firms In Nigeria. Afribary. Retrieved from https://afribary.com/works/development-of-competitiveness-indices-for-indigenous-construction-firms-in-nigeria

MLA 8th

TUNJI-OLAYENI, PATIENCE "Development Of Competitiveness Indices For Indigenous Construction Firms In Nigeria" Afribary. Afribary, 20 May. 2021, https://afribary.com/works/development-of-competitiveness-indices-for-indigenous-construction-firms-in-nigeria. Accessed 20 Apr. 2024.

MLA7

TUNJI-OLAYENI, PATIENCE . "Development Of Competitiveness Indices For Indigenous Construction Firms In Nigeria". Afribary, Afribary, 20 May. 2021. Web. 20 Apr. 2024. < https://afribary.com/works/development-of-competitiveness-indices-for-indigenous-construction-firms-in-nigeria >.

Chicago

TUNJI-OLAYENI, PATIENCE . "Development Of Competitiveness Indices For Indigenous Construction Firms In Nigeria" Afribary (2021). Accessed April 20, 2024. https://afribary.com/works/development-of-competitiveness-indices-for-indigenous-construction-firms-in-nigeria