Economics Essay, applying Porter's Diamond to the construction Essay

Economics , applying Porters Diamond to the formula effort - Essay ExampleThe work includes building of roads, link and other major infrastructures. The real estate business is also urban based so the constructions companies need to base all their business activity in urban areas in order to compliment the real estate industry. The repair and maintenance of existing buildings and other infrastructures also falls under the domain of construction industry and its major business comes from the densely populated urban areas. This is due to the fact that the more usage of infrastructure in densely populated urban areas results in higher damages and hence is subject to repair. There are mainly three categories in which the construction industry is divided. First, being the heavy constructions that adopt high civil engineering in this category we have the construction of roads, bridges and other big infrastructures. In this category the big guns of construction industry come into functi on for all major commitments. The second category is the general construction of buildings of real estate in this category the construction companies operate in housing development works. The small construction companies mainly operate in this category, as it requires small budgetary involvements. The third and final category comprise of special constructive work, which is done in small scale. Specialized areas of construction fall in this category like the construction work on wood, electric connect works, etc. In this category very specific construction companies operate as it require specialization in specific field of work. (Economy watch, n.d).It is seen that the contractor may be an individual or whatsoever organization contractors definitely fall in any of the above categories in construction business. A construction firm, of any size can fall under these three categories of the construction business. The scope of growth of construction industry is favorable in the develo ping countries where the trend of