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http://dx.doi.org/10.6106/KJCEM.2016.17.3.061

VRIO Model Based Enterprise Capability Assessment Framework for Plant Project  

Min, Byeong Su (Civil and Environmental Division, Hanwha Engineering&Construction)
Min, Jang Hee (Department of Civil and Environmental, Yonsei University)
Jang, Woosik (Department of Civil and Environmental, Yonsei University)
Han, Seung-Heon (Depart of Civil and Environmental Engineering, Yonsei University)
Kang, Sin Young (International Contractors Association of Korea)
Publication Information
Korean Journal of Construction Engineering and Management / v.17, no.3, 2016 , pp. 61-70 More about this Journal
Abstract
Construction enterprises have performed various projects such as buildings, infrastructure and plant projects in the international market. Among these, the plant project's amount of orders accounted for about 68.9% of all. However, because of the enterprises won a contract with a low-budget for plant project in the last 10 years, the profit has dropped dramatically. And it is forecasted that there are extreme competition for bid award of plant projects because of the current falling oil prices and raising interest rates. In this circumstance, the comprehending of enterprises strength and weakness must be a priority to get a sustainable competitive advantage. Therefore this research suggests the enterprises's capability assessment framework and it is in order to diagnose the korean construction enterprises capabilities. The framework is based on the VRIO model that is on the basis of resource based theory. First, the capability assessment indices and their importance and priority that based on the life-cycle of plant project is deducted by literature review and survey. Second, the 5 point likert score applied VRIO survey is conducted to diagnose the enterprises and quantified the survey result using the fuzzy theory. Lastly, the competitvie implication and capability assessment are deducted.
Keywords
Resource Based Theory; VRIO Model; Plant Project; Capability Assessment;
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Times Cited By KSCI : 4  (Citation Analysis)
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