How did the Project-based Companies Defend against Impact of Economic Crisis? The Case Studies of General Contractors in Poland
Institute of Production Systems Organization, Warsaw University of Technology, Warsaw, Poland
Abstract—Since 2008 European and U.S. economies suffered fiscal-financial crisis. After some years it has affected the Polish construction industry. This paper examines the impact of economic crisis on construction industry and general constructors. Discussion is concentrated also on recovery strategies that were applied by general constructors in Poland after year 2008. The study shows primary reasons of downturn, such as: Decrease in GDP growth, lower investment activity of market entities, strong competition in the market caused price war between general contractors to win new orders, and lack of competences entering the new construction segments and experiences in realisation of megaprojects.
Index Terms—economic crisis, construction industry, general contractor, Poland
Cite: Eryk Głodziński, "How did the Project-based Companies Defend against Impact of Economic Crisis? The Case Studies of General Contractors in Poland" Journal of Advanced Management Science, Vol. 5, No. 1, pp. 45-52, January 2017. doi: 10.18178/joams.5.1.45-52