The impacts of FOREX fluctuations on construction business performance : an organisational capabilities perspective
Mohamed, Mohd Amizan Bin, Trigunarsyah, Bambang, Teo, Melissa, & Kajewski, Stephen (2013) The impacts of FOREX fluctuations on construction business performance : an organisational capabilities perspective. In Ahmed, Syed M., Smith, Norma, Azhar, Salman, Yaris, Catherine, Shah, Attaullah, Farooqui, Rizwan, et al. (Eds.) Proceedings of the Seventh International Conference on Construction in the 21st Century : Challenges in Innovation, Integration and Collaboration in Construction and Engineering, Millenium Hilton, Bangkok, Thailand, p. 2.
Construction projects are a high risk business activity. When undertaking projects in an international context, it is further complicated by the risk of fluctuations in the foreign exchange rates (FOREX). Construction business performance is affected by these fluctuations. They affect progress and cause delays, which in turn create problems for subcontractors, namely cost overruns, disputes, arbitration, total abandonment and litigation. FOREX fluctuations also cause the price of raw materials to increase, leading the cost overruns. Managing FOREX risk is critical and past research have focused on the need for adequate insurance, careful planning and management, and foreign exchange futures hedging to overcome issues that have been caused by the FOREX risk. Analysis of FOREX risk in international construction business usually focused only on issues at the project level. There is currently lack of understanding of Organisational Capabilities (OC) to manage the impacts of FOREX risk, which when examined, are seen in isolation. This paper attempts to bridge the gap by discussing the impacts of FOREX fluctuations on the international construction business. The focus is on the OC perspective and the need to develop OC framework to mitigate the risk in sustaining construction business performance.
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|Item Type:||Conference Paper|
|Keywords:||Foreign Exchange Rate (FOREX), Organisation Capabilities (OC), Business Performance, Construction Business|
|Divisions:||Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
|Copyright Owner:||Copyright 2013 CITC-VII, Greenville, North Carolina, USA|
|Deposited On:||15 May 2014 23:13|
|Last Modified:||18 May 2014 22:59|
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