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Is The UK Government’s Ambition to Build Three Million New Homes By 2020 Unrealistic and Unachievable? (2011)

Ref: build0024

In the United Kingdom (UK) there was a perceived structural undersupply of new housing even before the reduction in volumes in 2007 and 2008 as a result of the “credit crunch” and subsequent economic recession. Latest forecasts indicate average new household formations of over 250,000 per annum in England alone (Office for National Statistics, 2009). This compares against 200,697 new homes built in the UK in 2007 at the height of the housing boom and only 106,894 in 2008 (NHBC, 2009). If strategy is seen as management’s response to turbulence in a business context, (Clegg, 2008), what exactly is strategic management and how does it manifest itself? This dissertation will consider the strategic management issues facing the UK’s private house building sector and attempt to link theory to practice in this built environment context. With regard to the UK’s private house building sector the research will seek to determine the constituent parts which make up the industry. The key drivers of demand and supply for new housing will be considered alongside the future challenges and constraints. Demand for new housing is heavily dependent on consumer confidence in the wider economy, which is influenced by factors such as unemployment levels, availability of credit and interest rates, which are outside the control of volume house builders. By undertaking case studies of two of the top five private volume house builders in the UK it is possible to identify their emerging business strategies. Corporate financial analysis over a five year period will clearly demonstrate the effect of the “credit crunch” and economic recession on their business performance. If, every crisis is an opportunity (Constructing Excellence, 2009), how will the major actors re-position themselves? Further primary research and analysis will consider what effect their future strategies might have on the industry as a whole. The main aim of this dissertation is to provide a strategic management perspective of the UK’s private house building sector and to clearly establish that the perceived structural under supply of new housing is highly unlikely to be resolved. Dissertation objectives:

1. To relate strategic business management theory to practice in the built environment
2. To understand the characteristics of the private house building sector in the UK
3. To demonstrate how this industry sector has been severely affected by the credit crunch in 2007 and subsequent economic recession
4. To establish the future challenges and constraints facing the industry

  • 12,000 words - 60 pages in length
  • Excellent use of literature
  • Good in depth analysis
  • Good analysis of the subject area
  • Includes questionnaire
  • Ideal for building students


1 – Introduction
Rationale for the study
Aim
Objectives
Hypothesis
Guide to the dissertation

2 – What is strategic management?
What is strategy?
The process of strategy formation
Strategy in relation to the UK’s private house building sector
Conclusions

3 – The UK’s private house building sector
House building in context
Output and structural under supply
Home Ownership & Government policy
An industry resistant to change?
A Scottish perspective
An economic perspective
Credit crunch & Mortgage finance
First Time Buyers
Housing mix and density
Land
Volume House builders
Conclusions

4 – Case study: Bellway plc
Description of the company
Chairman’s statements (2008, 2009 & 2010)
Financial analysis of company performance
How does this relate to strategy and the strategy process?
Conclusions

5 – Case study: Taylor Wimpey plc
Description of the company
Chairman and Chief Executive statements (2008, 2009, 2010)
Financial analysis of company performance
How does this relate to strategy and the strategy process?
Conclusions

6 – Research methods
Alternative research methods
Central approach adopted
Limitations

7 – Data collection and analysis
Aims of the interviews
Selection of data collection method
Analysis of the data and results

8 – Conclusions and recommendations
Overall statement of findings and reflection
Original aim and objectives
Recommendations for further research

References

Appendix Section



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