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

Economics , applying Porters Diamond to the social system industry - Essay ExampleThe live on includes building of roads, tie and other major infrastructures. The real estate business is also urban base so the constructions companies need to base every their business activity in urban areas in send to compliment the real estate industry. The repair and maintenance of existing buildings and other infrastructures also falls beneath the domain of construction industry and its major business comes from the densely populated urban areas. This is due to the feature 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, universe the heavy constructions that require 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 function 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 related 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 any 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 crop of construction industry is favorable in the developing countries where the trend of