Theory and Practice of Business under Sustainability Principles
Edited by Geoffrey Wells
Chapter 9: Strategic risk assessment for pursuing sustainable business in the construction industry: diagnostic models
This chapter provides a broad overview of the sustainable business in practice, highlighting the necessary strategic risk assessment models desirable for pursuing sustainable business in the construction industry. Synergies are highlighted between the disciplines of project management through the underlying concepts of risk management, strategic management and organization behaviour (OB) in exploring the diagnostic models for pursuing sustainable business. The chapter reviews the literature and describes the strategic risk assessment framework in the form of a diagnostic model: a three dimensional framework which can be used for diagnosing the effectiveness of construction organizations intending to pursue sustainable business practices and other social systems. The framework can then be used to select an appropriate intervention. The concepts of agency and structure using the underlying saturation theory are utilized to provide the elements of a model to assess risk in the construction industry.
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