Assessment of impact of survival management strategies on Quantity surveying firm

Abstract

The instability of the nation's economy often makes firms focus on their survival and growth throughout their lifetime in an increasing competitive business environment. This thereby, put firms under pressure to offer wider range of services to grow and survive. The rapid changes and increasing competition among the firms in every sector led them to be faced with challenges of how to remain relevant and remain in business of their field of operations, hence, survival became the order of the day for quantity surveying firms (QSFs) as they scramble for effective ways and strategies to survive, Flowing from this knowledge this study aimed at assessing the impact of survival management strategies on quantity surveying firm (QSFs) In Nigeria. However, due to the constraints of time and logistics, the survey for this study was carried out in the Federal Capital Territory (FCT), Abuja which is well endowed with good number of required QSFs. The study assessed the level of awareness and adoption of identified survival management strategies as well as the possible impacts of these survival management strategies on the QSFs in Abuja, Nigeria. Using census sampling, 126 registered and practicing QSFs * were sampled out of the 135 registered QSFs in FCT Abuja. Survey research approach was adopted, a well-structured questionnaire was designed and administered to quantity surveyors in the sampled 126 registered QSFs in FCT Abuja. A total of 109 questionnaires were returned and the data was analysed using mean item score (MIS) and standard deviation (SD). The result of the study showed that, improved service delivery, improved networking, proper financial management, retainment of experienced staff, technology usage and effective management of knowledge toped the essential survival management strategies adopted for the survival of QSFs in FCT. The study concluded that all the identified survival management strategies adopted by the QSFs in FCT, have significantly impacted the QSFs in FCT and Nigeria at large with improved credibility, improved decision making, more effective and efficient organizational management and improvement in technology adoption. Firms networking and collabouration in sharing knowledge with each other, build credibility and foster a good relationship between firms and clients then ensure improved delivery of services.