INDUSTRY AND MANAGEMENT

Industry and Management



Industry and Management

TASKS

1/Explain why the construction industry is so important to the economy of the United Kingdom.

Identify and describe the wide range of personnel, clients and projects that are a part of the industry

The construction industry contributes about 6% of UK GDP. Construction industry of UK employs about 1.4 million people. The gross value added (GVA) of this industry in 2003 was £61.5 billion which is about 6.3% of the total for UK. The total value of the work carried out by the construction industry in the UK continues to grow. In Great Britain the total value of construction work was £92.7 billion in 2003 of which £49.8 billion was new work and £42.9 billion repair and maintenance.

It is accepted universally that a society needs to invest in its infrastructures and facilities so as to sustain economic growth. These investments are usually reported as the Gross Domestic Fixed Capital Formation (GDFCF) in the society's National Account, which is a significant portion of the Gross Domestic Product (GDP) of most countries.

2/Look at Members of the Construction Industry Employers Council and Industry Change Organizations;

Different types of infrastructure and facilities were constructed to meet different needs of society, which may be social or economic at different periods of time. It follows that some of the infrastructure and facilities might not be constructed for the sake of initiating economic growth and were expected to assume different roles. For example, the construction of a hospital would have been to meeting the medical and health care needs of a society, whilst the construction of a highway connecting the industrial districts would have been expected to benefit the economy. Even the same type of infrastructure construction, for example highways, may have different roles at different times.

3/Describe the site provisions which are currently or typically made for:

The GDFCF investment of UK has also been significant. In the period from 1973 to 1997 it had never fallen below 25% of the expenditure-based GDP of UK. Whilst at its peak in 1997 when construction of the ambitious Airport Core Programme (ACP) projects was in full swing its share in the GDP has even surged to 36.75%. A major portion of the GDFCF Investment in UK is infrastructure and building construction. The value of this type of Investment in UK during the same period has never been less than 40% of the GDFCF. ...