Global Knowledge Management Technology Strategies and Competitive Functionality from Global IT in the International Construction Industry

The International Engineering, Procurement, And Construction (Iepc) Industry

Construction is one of the most influential industries in the world (Schulte, 1997, 2004). This position is based on the following nine arguments. First, it is the world’s largest industry, representing a significant percentage of the world’s total Gross Domestic Product. Because construction is labor intensive, it creates a significant share of global employment, especially in developing countries.

Second, changes in the construction services industry have an exponential impact on the world economy. Construction’s impact extends far into the value chain, both upstream and downstream in many industries. Construction projects increase sales in related industries such as heavy equipment, transportation, cement, steel, and financial and other services. Furthermore, the spin-off effect of the industry influences all major industries in the economy, particularly those requiring industrial plant, commercial facilities, or infrastructure construction.