AUGUST 2022CONSTRUCTIONBUSINESSREVIEW.COM8IN MYOPINIONOld-given structures, many employees, local production, high fixed costs, and large investment capital are mostly part of old economy business models. Industries have to rethink now. The challenge of the construction industry lies in the business models of the future. Soon, it will surely be over with the solid and conventional model. The construction industry has been trying for years to catch up with the level of digitalisation of other industries, e.g., the automotive industry. In the meantime, the requirements from other sides, such as public sector clients, have also been increasing.Why Does the Construction Industry Actually Need to be Digital and Innovative?There are multiple reasons for this. On the one hand, we are gradually working on digital standards, such as BIM, for public tenders, and on the other hand, we want to make our processes more efficient to maintain our competitiveness on the market. Developing new, flexible, and scalable business models and optimising old business models with a future-oriented focus is the challenge. Diversification in different business areas creates a stable economic position and makes companies solid.In addition to the need for digitalisation and related activities such as change management, the topic of innovation, of course, plays a major role.Technology scouting, proof of concept, technology integration, etc., are bit by bit gaining importance in construction life. It is not just about finding new technologies, the added value behind the process must be focused on. Let's take an example: Why does a construction company buy a machine control system and transfer gathered data to a cloud? Not because the process is digitised with it, or because By Thomas Gröninger, Project Manager, Large and Mega Projects, STRABAG AG (STR: VIE)CONSTRUCTION INDUSTRY AND THE NEW WORLDThomas Gröninger
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