An exploratory study of a CSV concept for achieving firm competitiveness in Hong Kong construction firms

The Hong Kong construction industry has both contributed to and benefited from the growth and development of the last decades. However, social and environmental challenges, particularly health and safety issues, manpower shortage, construction waste and landfill problems, pose significant constraints to the continued growth of the firms. Recent studies suggest that construction firms can embrace a 'Creating Shared Value' (CSV) concept to convert these issues into business opportunities and achieve long-term competitiveness. Despite this recognition, effort has not been made to investigate the CSV concept in construction management. Hence, this study aims to explore the CSV concept in the Hong Kong construction industry, and establish a link between the CSV concept and firm competitiveness using strategic management theory. This research employs multi-method approach, encompassing documents review and semi-structured interviews, adhering to the principles of building theory from the case study research and the grounded theory. Data are analysed qualitatively. The results show that construction practitioners have mixed attitudes toward the CSV concept and firm competitiveness. Various potential strategies that are in line with the CSV concept including the potential barriers in its implementation process are also identified.