DEVELOPMENT POTENTIAL OF CONSTRUCTION COMPANIES: TECHNICAL AND ECONOMIC ASPECTS

Abstract

Introduction: The construction industry represents the priority area of the economy, which affects the quality of life of the population and other industries as well. Currently, many construction companies in Russia show low competitive ability (in 2016, their competitiveness index was lower than 400). The value of this index depends on the ability to adapt the internal organizational structure and applied technologies to the requirements of the market, i.e. on the innovative activity. At the present time, introduction of technical as well as organizational and economic innovations is complicated. This is due to the fact that most Russian companies do not focus on qualitative changes in the production structure and processes as well as in the management practices applied. Those factors result in low labor efficiency as unqualified workers are engaged, long lead time, etc. Methods: Scientific novelty lies in the development of methods for innovation potential assessment at a construction company, based on technical and economic indicators. The originality of the paper lies in the fact that the results of the authors' research on construction companies in Russia are used for analysis. Results and discussion: The present paper analyzes key factors of construction companies' development and its barriers. The paper aims at substantiating resources facilitating development of construction companies. The research data obtained allow for qualitative and quantitative assessment of the construction industry state in Russia.