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Busines development opportunities through pursuit of joint-venture initiatives in construction

Preece, Christopher Nigel and Hasan, Sharina Farihah (2010) Busines development opportunities through pursuit of joint-venture initiatives in construction. In: The Sixth International Conference On Multi-National Joint Ventures For Construction Works, 22-23 September 2010, Kyoto, Japan.

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A joint venture involves two or more businesses pooling their resources and expertise to achieve a particular goal, eg the construction of a large building. The risks and rewards are also shared. Businesses of any size can use joint ventures to strengthen long termbusiness/marketing relationships, or to collaborate on short-term projects, but entering into a joint venture is a major decision. The benefits of a joint ventuer include: the costs nad risks of the project are spread, improved access to financial resources, economies of scale and advantage od size, access to new technologies and customers, pre-empting competitionand creation of stronger competitive units. Joint venturing can be beneficial way to gain additional work and experience and expand a firm's market penetration. But it should only be approached with full appreciation of the risks involved, and full knowledge of the prospective joint venture partners. Joint ventures offer a number of business development opportunities for construction firms. This exploratory and theoretical paper will examine how the pursuit and execution of joint venture opprotunities may enhance the business development and marketing activities of firms, lead to more business opportunities, improve networks and relationships and create/enhance distinct and sustainable brands for JV partners.

Item Type: Conference or Workshop Item (Full Paper)
Additional Information: 5891/3503
Uncontrolled Keywords: Business development, Joint ventures, Marketing, Construction projects
Subjects: T Technology > TH Building construction > TH4021 Buildings. Construction with reference to use.
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Architecture and Environmental Design > Department of Quantity Surveying
Depositing User: Dr. Sharina Farihah Hasan
Date Deposited: 28 Sep 2011 09:45
Last Modified: 28 Sep 2011 09:45
URI: http://irep.iium.edu.my/id/eprint/3503

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