Overview
The Built Environment (BE) sector is made up of a large number of big, medium and small independent businesses. Unlike many other sectors, there are heavy inter-dependencies among different stakeholders along the value chain.
For example, developers work with consultants and builders on each project, who in turn rely on multiple tiers of contractors and sub-contractors for different aspects of the project. Designs put together by architects and engineers upstream will have downstream implications for contractors as well as facilities managers who build and maintain buildings. If coordination is not optimal, unnecessary and timely re-works will need to be carried out for the building to be constructed or maintained effectively.
The fragmented nature of the industry and complex contractual relationships also makes it challenging for the value chain to take a longer-term view in adopting innovation to developing capabilities and reap maximum business benefits through collaboration.
One way which the industry can mitigate the challenges is by taking an alliance approach. This means all value chain partners coming together, to collectively develop a strong and capable supply chain - project after project - over a longer term, with the aim to enhance industry resilience and collaboration.
BCA has therefore introduced the Growth and Transformation Scheme (“GTS") to encourage and support the formation of strategic alliances among progressive developers, consultants, builders and sub-contractors across the entire value chain. Designed to go beyond project-specific support, GTS enables companies to reap the benefits of taking a longer-term view on business and workforce transformation. It will support partnership efforts between multiple companies, to strengthen technical capabilities as well as corporate, digital and innovation practices, to achieve mutually beneficial outcomes over a sustained period. This will ultimately enable holistic transformation for value chains in the Built Environment sector.