An Overview of the Business Approach and Labor Costs in the Construction Industry. Case Study: Romania’s Counties by the Sea

• Main Author: Ionela Munteanu
• Format: Article
• Language: English
• Published: Ovidius University Press 2020-01-01
• Series: Ovidius University Annals: Economic Sciences Series
• Subjects: construction industry; labor costs; employment; business approach
• Online Access: https://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2021/03/Section%205/25.pdf

The context of construction reflects the complexity of technological advancements, industrial modelling and simulation, intertwined by the need for economic attention. The current paper captures the evolution of businesses and labor indicators in the construction industry of Romanian companies in the seaside region and determines a series of illustrated trends of the labor cost in the principal subsectors specific to construction engineering domain. By combining case study observation and quantitative analysis methods, we could express in suggestive figures the diverse, divergent and compelling business context in the construction industry of Romania’s two counties by the sea, Constanta and Tulcea. The dichotomic issues found during our study provide insights into the complex competition, business approach and labor costs in the construction context. The motivation for research and need to disseminate managerial knowledge derives from the impetus to enhance productivity and support for the economic development strategies in Eastern Europe.