Relevance of new management concepts to PCM

摘要

Global competition, unpredictable world economy, new nations and their new sociopolitical-cul- tural scenarios, enlightened customers, information explosion and rapid technological advances are some of the challenges of the twentyfirst century. They have driven managers of today to a frantic search for a panacea to be able to offer top quality, competitively priced products and services. Construction business, whether conducted in one's own country or overseas, has to con- tinue to march along with new concepts/developments in the field of management to remain prof- itable.