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    Competitive analysis of the Turkish brick industry - a case study for developing countries
    (Pergamon-Elsevier Science Ltd, 2007) Oral, Emel Laptali; Mistikoglu, Gulgun
    The aim of this article was to examine the factors affecting the competition in brick industries in developing countries. Turkish brick industry was analysed as a case study within the frame of Porter's five forces model. A questionnaire survey was undertaken with Turkish brick makers and the results were evaluated by using frequency tables, Likert scale of comparisons and hypothesis testing. Findings showed that competition between the existing companies in Turkish brick industry was fierce with many similar-sized companies, low entry and exit barriers, increasing threat from the substitute products, and increasing bargaining power of the buyers. Past experiences showed that potential developments in the industry due to integration with EU would additionally be increasing the competition. Depending on the literature and the questionnaire findings, a number of strategies were recommended to Turkish brick companies, which can also be adopted by the companies in other developing countries. (c) 2005 Published by Elsevier Ltd.
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    Crisis management in Turkish construction industry
    (Pergamon-Elsevier Science Ltd, 2006) Ocal, Emin; Oral, Emel Laptali; Erdis, Ercan
    Various economical crises have affected Turkish economy during the last decade and construction industry has always been among the hardest hit; giving the idea that a comprehensive approach to crisis management is unavoidable. However, literature showed no findings related with crisis management applications by construction companies. Thus, a questionnaire survey was undertaken by the top management of 120 construction companies to investigate the degree of crisis management applications throughout the industry, mainly focusing on the outcomes during the economical crisis in 2001. Frequency analysis, Likert scale of comparison, Thurstone's paired comparisons, Pearson's chi-square test and Fisher's exact test were used to evaluate the results. The results showed that government policies and instable market conditions were the most important causes of crisis for Turkish construction companies. Meanwhile, only a small number of the companies utilized a systematic crisis management and the extent of crisis management applications varied depending on the size and the structure of the companies. Consequently, panic and powerlessness were the common feelings shared throughout the industry during the economical crisis in 2001. Despite, it was still encouraging that the managers utilized contemporary decision-making methods to get out of the crisis and their final decisions were generally in favour of strategically repositioning themselves. (c) 2005 Elsevier Ltd. All rights reserved.
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    Industry financial ratios -: application of factor analysis in Turkish construction industry
    (Pergamon-Elsevier Science Ltd, 2007) Ocal, M. Emin; Oral, Emel Laptali; Erdis, Ercan; Vural, Gamze
    Turkish economy has been hit by various economical crises between the years 1998 and 2001 and the economic stagnation still continues. Past experiences in various countries show that it is vitally important to encourage construction activities in order to get out of stagnation, as construction output directly affects about 200 other sectors and industry financial ratio analysis is a means to provide a basis for the governments to undertake corrective action. However, there are over 50 financial ratios that can be used during analysis and some are more important than the others for different industries. Previous research has shown that there are about 25 factors that are important for the construction companies. This, in turn, requires elimination of unrelated data. Factor analysis is a data reduction and classification technique, which can be applied in financial analysis. Factor analysis was thus applied to the financial data collected from Turkish construction companies for a 5-year period in order to determine the financial indicators that can be used to analyse the financial trend of the industry. Five independent factors, i.e. liquidity, capital structure and profitability, activity efficiency, profit margin and growth, and assets structure were identified to be sensitive to the economical changes in the country. The results of the factor-based analysis can be used both by the government to analyse the changes in the industry with respect to time and by the construction companies to analyse their financial state with respect to their rivals. (c) 2005 Elsevier Ltd. All rights reserved.