How do companies in the construction industry turn threats and crises into strategic opportunities in times of crisis management? Research and examples of practice implications of case studies from Cyprus.

Abstract

This paper presents the results of a study designed to address how companies operating in the construction industry turn threats into strategic opportunities in times of crisis management. Data has been collected from ten different construction companies operating in Cyprus, whose examples will be used to discuss how such companies react to crises. The results suggest the inexistence of proper crisis management in construction companies, yet explain through real case scenarios, how the companies create opportunities while surviving a crisis. The implications of the results for understanding how threats and opportunities are created through crisis management are critically examined, and future research directions are indicated.