Benchmarking enablers to achieve growth performance: a conceptual framework

Abstract

PurposeTo suggest a conceptual framework to benchmark enablers of growth and link them to performance metrics, duly supported theoretically with definitions and literature review. The sub-objectives of the study are the following:To identify enablers based on theories and antecedents of growthTo establish key leads on how the identified enablers have been deployed by leading construction companies, basis their stages of growth and economic contextTo identify which enablers have higher potential to contribute to competitiveness and growth in an effort to benchmark performanceTo establish if the enablers deployed is dependent on the market maturity and economic contextDesign/methodology/approachThe enabler-mix-based approach is evolved through literature review, inputs from industry practitioners, and subsequent empirical analysis. To explore relationships, the primary methodology suggested is building theory from practice, justified in specific industry and regional economic context. Content analysis has been used for validation of the framework.FindingsTraditional strategy literature suffers from the limitations in terms of applicability and specific contextual settings. In a rapidly changing and varied environment coupled with the context of emerging countries, there is a need for a benchmarked framework for strategy and growth. The evidence toward utility of the framework has been established through a quick analysis of leading construction companies. Capabilities for “operational and process excellence,” “unique products and services,” and “visionary leadership” emerged to be the higher ranked core growth enablers. However, the deployment of these enablers is dependent on the maturity of the company and its economic context.Research limitations/implicationsThis simpler and generic framework analyzes the relative impact on performance, as well as the inter-enabler interaction and substitution effects, in the context of construction companies.Practical implicationsIn the context of industries that are volatile in nature (like the construction industry), strategy tools need to be simple and generic towards practical and uncomplicated application for the managers, to achieve positive outcomes.Originality/valueThis paper offers fresh perspectives to benchmarking literature in terms of enablers to deliver growth performance, in the context of construction companies. It attempts to fill the gap in evolving simple strategy tools to ensure sustainable growth performance in industries having nascent research support and less availability of data so far. In the context of industries that are volatile in nature (like the construction industry), strategy tools need to be simple and generic toward practical and uncomplicated application for the managers to achieve positive outcomes.