A conceptual framework for achieving firm competitiveness in construction: A 'creating shared value' (CSV) concept

Abstract

Experience in recent years has emphasized that social sustainability is a key to achieve long-term competitiveness and sustainable growth for firms. However, current studies on competitiveness in the construction management literature are mainly focused on achieving business values i.e. it focuses on an economic perspective of competitiveness but it often neglects social integration. Social dimensions are given relatively lower priority, analysed separately and treated outside the scope of business strategy. An alternative concept, Creating Shared Value (CSV) concept is considered. It aims to enhance a firm's competitiveness by advancing their business and social conditions simultaneously. It can help firms to better respond to societal, environmental, and market needs as well as business activities. However, the relationship between CSV and competitiveness is still unclear, especially in the construction management research. This study attempts to develop a CSV-competitiveness conceptual framework for construction firms based on the analysis of current CSV implementation strategies in other disciplines from a strategic management perspective. The framework categorises firm competitiveness into two dimensions-1) business success and 2) facilitation of future growth and development. It also argues that through the CSV concept, firms can convert social issue into business opportunity - which is jointly measured in terms of social and business values. This ultimately leads to firm competitiveness. This study addresses how construction firms can achieve competitiveness by implementing the CSV concept.