Sustainable responsiveness for recessionary effects in the construction industry: a study on appraising benefits

Perera, KTPK; Waidyasekara, KGAS

dc.contributor.author	Perera, KTPK
dc.contributor.author	Waidyasekara, KGAS
dc.contributor.editor	Sandanayake, YG
dc.contributor.editor	Fernando, NG
dc.contributor.editor	Karunasena, GI
dc.date.accessioned	2022-02-21T09:48:10Z
dc.date.available	2022-02-21T09:48:10Z
dc.date.issued	2014-06
dc.identifier.citation	Perera, K.T.P.K., & Waidyasekara, K.G.A.S.(2004). Sustainable responsiveness for recessionary effects in the construction industry: a study on appraising benefits. In Y.G. Sandanayake, N.G. Fernando & G.I. Karunasena (Eds.), Sustainability and development in built environment: the way forward (pp.554-566). Ceylon Institute of Builders. https://ciobwcs.com/downloads/WCS2014-Proceedings.pdf
dc.identifier.uri	http://dl.lib.uom.lk/handle/123/17021
dc.description.sponsorship	The construction industry is a significant source of revenue generation to the economy, contributing more than 9% of the Gross Domestic Production (GDP) in Sri Lanka in the year 2012 according to the Central Bank statistics. Thus, the construction industry is concurred a positive relationship with the cyclical economic fluctuations. Consequently, adverse economic conditions directly affect the industry and resulted in stagnation. In response to the recession, the construction practitioners adopt various strategies. However, the recession responsiveness must be aligned with the concept ‘sustainability’ which concerns beyond the profit oriented short-termism. Hence, the aim of this research study is to investigate the benefits (Strengths) of sustainable responsiveness to minimise adverse effects (Threats) in the construction industry during the recession. An expert interview survey was conducted among different construction stakeholders to obtain multi rational perspectives. The survey analysis derived that social benefits associated with sustainability have contributed mainly to gain the benefits over recessional threat. However, many of the statements were neutralised stating that ‘Sustainable benefits sometimes minimise recessional threats’. Henceforth, it can be concluded that the sustainable strategies favourably respond the recession to mitigate recessional threats and direct long term strategic establishment. In addition, public awareness is essential to gain the sustainable benefits. Finally, it is recommended to be aware of the recession adhering to the opportunistic way forward through sustainability rather beware of its appalling adverse effects.The construction industry is a significant source of revenue generation to the economy, contributing more than 9% of the Gross Domestic Production (GDP) in Sri Lanka in the year 2012 according to the Central Bank statistics. Thus, the construction industry is concurred a positive relationship with the cyclical economic fluctuations. Consequently, adverse economic conditions directly affect the industry and resulted in stagnation. In response to the recession, the construction practitioners adopt various strategies. However, the recession responsiveness must be aligned with the concept ‘sustainability’ which concerns beyond the profit oriented short-termism. Hence, the aim of this research study is to investigate the benefits (Strengths) of sustainable responsiveness to minimise adverse effects (Threats) in the construction industry during the recession. An expert interview survey was conducted among different construction stakeholders to obtain multi rational perspectives. The survey analysis derived that social benefits associated with sustainability have contributed mainly to gain the benefits over recessional threat. However, many of the statements were neutralised stating that ‘Sustainable benefits sometimes minimise recessional threats’. Henceforth, it can be concluded that the sustainable strategies favourably respond the recession to mitigate recessional threats and direct long term strategic establishment. In addition, public awareness is essential to gain the sustainable benefits. Finally, it is recommended to be aware of the recession adhering to the opportunistic way forward through sustainability rather beware of its appalling adverse effects.	en_US
dc.description.sponsorship	Ceylon Institute of Builders (CIOB)
dc.language.iso	en	en_US
dc.relation.uri	https://ciobwcs.com/downloads/WCS2014-Proceedings.pdf	en_US
dc.subject	Adverse effects	en_US
dc.subject	Construction industry	en_US
dc.subject	Economic recession	en_US
dc.subject	Sustainable benefits	en_US
dc.subject	Sustainable responsiveness	en_US
dc.title	Sustainable responsiveness for recessionary effects in the construction industry: a study on appraising benefits	en_US
dc.type	Conference-Full-text	en_US
dc.identifier.faculty	Architecture	en_US
dc.identifier.department	Department of Building Economics	en_US
dc.identifier.year	2014	en_US
dc.identifier.conference	3rd World Construction Symposium 2014	en_US
dc.identifier.place	Colombo	en_US
dc.identifier.pgnos	pp. 554-566	en_US
dc.identifier.proceeding	Sustainability and development in built environment: the way forward	en_US
dc.identifier.email	treshani.perera102@gmail.com	en_US
dc.identifier.email	anuradha@uom.lk	en_US
dc.identifier.publisher	Ceylon Institute of Builders