A CSV concept to address health and safety issues and achieve firm competitiveness in the Hong Kong construction industry

Abstract

The Hong Kong construction industry has both contributed to and benefited from the growth and development of the last decades. However, health and safety related issues pose significant constraints to the continued growth of firms. Recent studies suggest that construction firms can embrace a ‘Creating Shared Value’ (CSV) concept to convert H&S related issues into business opportunities and achieve long-term competitiveness. Despite this recognition, no effort has been made to investigate the CSV concept in construction management. Thus, this paper aims to explore and understand the CSV concept in construction management. It identifies the potential means of shared value strategies, specifically related to health and safety issues in Hong Kong construction firms. It also establishes a fundamental link between the CSV concept and firm competitiveness using strategic management theory. Empirical data are collected from documents review and semi-structured interviews from four different companies. Data are analysed qualitatively and case examples are presented. The results show that construction firms are unknowingly applying the CSV concept to address health and safety related issues, while also achieving competitiveness.