On the Key Success Factors of Engineering Consulting Services Industry
Date Issued
2012
Date
2012
Author(s)
Dyau, Jyan-Ywan
Abstract
In recent years, government procurement market of engineering consulting services industry has undergone dramatical changes to become more competitive. The purpose of this thesis is to exploit key success factors from experiences of existing firms which still make profit under this circumstance. Case studies of four firms with different sizes are performed by intensive interview method. In each case, corporate internal core competences as well as external industry competitive strategy and marketing strategy are studied and analyzed. It is found that large size firms face different market segmentation to medium and small size firms. Therefore, competitive challenges they encounter are quite different. This scenario is illustrated by Porter’s five force models for different firm sizes.
Conclusions related to profitable strategies which are most significant to firms in engineering consulting services industry are addressed to. Core competences commonly come from formal engineering experiences of personnel, related track records of the firm, knowledge from professional publications, and consultations from related professional research fellows. Competitive strategy is mainly based on differentiation strategy to focus on nitch market in accordance with its own core competences. Cost leadership strategy should be applied only in a short term basis as an entry strategy to an emerging market. Existing engineering consulting services industry market is mainly segmented by the sizes of the engineering projects, and the professional engineers’ practicing categories required. Market targeting and positioning according to this segmentation should be set to strengthen firm’s competitive advantages and at best to establish a brand name within its nitch market.
Subjects
Engineering Consulting Services Industry
Key Success Factors
Core Competences
Competitive Strategy
Marketing Strategy
Porter’s five force model
Type
thesis
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