Risk Management Of Integration Challenges: A Case Study Of Informal Contractors Of Emerging Markets

Main Article Content

Albert Tchey Agbenyegah
Kelehile Joseph Motlhale

Keywords

Risk Management, Informal Economy, Informal Contractors, Emerging Markets

Abstract

The construction industry across emerging countries are exposed to high risk volumes and uncertainties. The industry requires efficient management systems not only to render the industry sustainable but to enable the industry to become viable. This phenomenon is common occurrence in rural areas across most emerging countries which are in dire need of infrastructure repairs and building employee skills. This study identifies integration challenges as one of the high risk factors (HRFs) of the construction industry. In addition, practical suggestions were stated based on empirical findings. The nature of risks as revealed by the survey represents series of challenges that confronts informal contractors during the integration processes. Data was collected through semi-structured interviews and focus group discussions (FGDs). A total of 134 informal contractors were approached for empirical data. Being qualitative and exploratory study, the interview processes and FGDs were in two sections; four informal contractors took part in face-to-face interviews. One hundred and thirty (N=130) informal contractors consisting of thirteen groups of 10 members each group participated in FGDs. Responses from interviews revealed multitudes of empirical outcomes which pointed to the complex nature of integration challenges that impede on the processes of integration. Drawing on the findings, practical recommendations were made ranging from tailored-made education and training initiatives and adequate funding models to reduce some of the integration challenges.

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