This report aims to create an understanding about the relations of business environment and the management in construction and property. It is also aimed at examining the critical analysis necessary on implementing the innovative management strategy and structure which enables the construction organisation to be prepared for sustainable growth. While the global economy is recovering from the recent recession, the construction and property industry are made to make a quick and sudden change that is necessary to evaluate the business environment and create a more sustainable business management.
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There are some business management strategies for obtaining specified goals or result; which are in place to help assist the construction and property organisation to be an in position to positively sustain growth during its running process and time of uncertainty. https://aedasresearch.com/files/attachments/7-sustainable-rose-masdar.jpg Figure 1
Business environment is a set of environmental issues that may influence the route of a business organisation through some forces known as the PEST. These forces are political, economical, socio-cultural and technological. These forces impact on the business structure and management system of a business organisation. These forces are predominantly outside the control of a business, they can potentially influence how business is run and impact on the managerial structure both positively and negatively. Fryer (1997) states that a business survival is largely about understanding the external environment and how it affects the organisations performance. Management is the controlling and directing of affairs of a business. It is an organisations activity, objectives and the act of working together to accomplish desired goals through the efficient and effective use of available resources. Management requires the working relationship of individuals in an organisation to enable them in their decision making process during difficult times such as recession, low production or sales. Management of a business is well beyond its internal affairs, it is a knowledge and understanding of a business environment. These understanding of a business’s external factors will enable the prevention or minimization of loss of the organisation’s revenue, and will ensure the organisation will solidify itself from going into administration and staff redundancy. The business environment which is a set of political, economical, socio-cultural and technological forces (PEST) that are outside the control and influence of a business is one that creates a very high level of uncertainty in a rapidly changing environment but could be dealt with under the right management strategy. These business environment factors have an individual effect on every organisations business activity and management process. POLITICAL A political factor of the business environment has a huge impact in the construction and property industry because they are governed by the government in forms of employment laws, health and safety, monopolies legislation, foreign trade regulations, protection laws and taxation policy.
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