Swot Analysis Of The Construction Industry

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Construction in the USA
Overview of industry
The Construction industry in the US has faced some interesting changes throughout its progression. From economic instability during the housing market crash to amazing technological advances to reduce the need for construction workers and therefore the cost associated with newly built properties in the real estate market. Beginning with the first tools ancient man used to carve their niche in the soon to be global expansion of arguably one of the oldest trades in history, construction has a rich history of trial and error, analysis and engineering that covers a very necessary skill that directly affects everyone who seeks and finds shelter, a place to work or any aspect of public works and many …show more content…

“Domestically, the construction industry is largely decentralized and generally in a defensive mode.” (Building for Tomorrow) It’s understandable that many foreign conglomerates want to buy up domestic firms, but there are many smaller businesses that provide a balance to prevent total takeover. In the international construction market, there is much competition, and cost competition reduces much of the potential for domestic markets to expand overseas. (Building for Tomorrow)
SWOT analysis
Strengths of the Construction industry include staying power for the industry, yet not as much so with individual companies. Government contracts are a big attractor to the industry and offer well compensated opportunities, as well as the fact that one is creating something from scratch that is designed to be a dwelling.
Weaknesses include the decentralized chunk of the industry that seems unstable even though the industry itself is never going away. International firms grabbing up domestic firms is another issue that is partially constrained by international laws. However parts for construction are largely manufactured overseas, further limiting the potential for domestic business. The high cost to begin a construction business is also a deterrent to new entrepreneurs in the

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