TY - GEN
T1 - Incubator program development
T2 - 26th International Association for Management of Technology Conference, IAMOT 2017
AU - Govender, Dane
AU - Telukdarie, Arnesh
N1 - Publisher Copyright:
© 2020 26th International Association for Management of Technology Conference, IAMOT 2017. All rights reserved.
PY - 2020
Y1 - 2020
N2 - Small construction companies in Gauteng, South Africa, have experienced many obstacles in attempting to successfully complete construction projects. The general failure rate of construction companies, in South Africa, is historically high. The study focuses on investigating reasons as to why construction companies fail in South Africa. Literature indicates that contractors experience significant challenges including financial, managerial and political barriers. Research indicates the lack of development of Small, Medium and Micro sized Enterprises (SMME's) have been viewed as being globally problematical. The study identifies existing, relevant global literature reporting on problems relating to the lack of contractor development and construction project failure. This research further investigates local and international best practices for contractors that have resulted in the success of construction companies. The researcher conducted an analysis of the construction industry focusing on a group of contractors involved in a South African contactor development program. The contractors participated in one-on-one interviews, as well as the completion of a detailed questionnaire. All participants involved are part of the First National Bank (FNB) Incubator program. The questionnaire focuses on establishing the financial status, management skills, appropriate staffing, and assessment of technical and contractual skills. The data analysis benefits the construction industry in providing insight into the contractor's deficiencies and challenges. The results indicates that the failure of many small construction companies is been due to a multitude of factors including factors working in combination. Furthermore, the research focuses on revealing key factors resulting in the collapse of construction companies as well as how these factors should be addressed, with the aim of providing a solution to the lack of contractor development and the failure of construction companies. The study compares best practices, for contractors globally, together with details as to potential implementation strategies. The development of contractors is vital to the South African economy. The inability of government and the contractors themselves to address key factors has resulted in contractors struggling to develop or sustain business long term plans. These plans need to be successfully created and implemented, if there is to be a change in current circumstances.
AB - Small construction companies in Gauteng, South Africa, have experienced many obstacles in attempting to successfully complete construction projects. The general failure rate of construction companies, in South Africa, is historically high. The study focuses on investigating reasons as to why construction companies fail in South Africa. Literature indicates that contractors experience significant challenges including financial, managerial and political barriers. Research indicates the lack of development of Small, Medium and Micro sized Enterprises (SMME's) have been viewed as being globally problematical. The study identifies existing, relevant global literature reporting on problems relating to the lack of contractor development and construction project failure. This research further investigates local and international best practices for contractors that have resulted in the success of construction companies. The researcher conducted an analysis of the construction industry focusing on a group of contractors involved in a South African contactor development program. The contractors participated in one-on-one interviews, as well as the completion of a detailed questionnaire. All participants involved are part of the First National Bank (FNB) Incubator program. The questionnaire focuses on establishing the financial status, management skills, appropriate staffing, and assessment of technical and contractual skills. The data analysis benefits the construction industry in providing insight into the contractor's deficiencies and challenges. The results indicates that the failure of many small construction companies is been due to a multitude of factors including factors working in combination. Furthermore, the research focuses on revealing key factors resulting in the collapse of construction companies as well as how these factors should be addressed, with the aim of providing a solution to the lack of contractor development and the failure of construction companies. The study compares best practices, for contractors globally, together with details as to potential implementation strategies. The development of contractors is vital to the South African economy. The inability of government and the contractors themselves to address key factors has resulted in contractors struggling to develop or sustain business long term plans. These plans need to be successfully created and implemented, if there is to be a change in current circumstances.
KW - Benchmarking
KW - Employment creation
KW - Financing
KW - Skills development
KW - Strategies alignment
UR - http://www.scopus.com/inward/record.url?scp=85080967363&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:85080967363
T3 - 26th International Association for Management of Technology Conference, IAMOT 2017
SP - 1310
EP - 1328
BT - 26th International Association for Management of Technology Conference, IAMOT 2017
PB - International Association for Management of Technology Conference (IAMOT) and the Graduate School of Technology Management, University of Pretoria
Y2 - 14 May 2017 through 18 May 2017
ER -