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FOREIGN FIRMS' STRATEGIC AND PROJECT MANAGEMENT PRACTICES IN CHINA

FOREIGN FIRMS' STRATEGIC AND PROJECT MANAGEMENT PRACTICES IN CHINA,Florence Yean,Yng Ling,S. P. Low,S. Q. Wang,T. K. Egbelakin

FOREIGN FIRMS' STRATEGIC AND PROJECT MANAGEMENT PRACTICES IN CHINA  
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China's construction industry presents many opportunities to foreign architectural, engineering and construction (AEC) firms. This paper reviews the strategic management practices adopted by foreign firms and investigates specific project management practices adopted by them on construction sites in China. Data were collected using a structured questionnaire from Singaporean AEC firms that had undertaken projects in China. A wide range of management practices are adopted by foreign firms in China. The most effective market entry modes are entering China as wholly owned foreign enterprises and forming project joint ventures with Chinese firms. The key business strategies include understanding clients' requirements, and offering superior products and services. At the construction site level, many project management practices focus on improving quality and communication. Unfortunately, risk management is not adequately implemented. It is recommended that foreign firms adopt some of the significant management practices uncovered in this study so that their projects in China may achieve better performance.
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