ABSTRACT
Construction and its markets Construction is not a homogenous industry and is better characterized as a number of market segments coming together to form a representation of an industry. The traditional
classification is that construction comprises of civil engineering, building, repair and maintenance, and materials sectors. Such simplicity would be easy but even within this framework other classifications such as housing commercial, public and industrial construction also exists. There are also variations in project size, complexity and location. Modern procurement approaches have also created crossovers between design, execute and operational activities. This definition does not include sectors such as petrochemicals, offshore construction, power, facilities management, etc. A large modern construction services organization can operate in a complex business environment. There will be competition within market sectors as well as across sectors. The process of developing a business has to be carefully thought through.
