ISSN 2394-5125
 

Research Article 


A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU

Mr. Nagarajan Muthukrishnan.

Abstract
Innovation and Strategic Management is an eminent &perpetual practice which improves the performance, abilities of the organization, capacity over competitions, Strength in the Market Competitiveness, enriching the brand name of the organization for benchmark. Top Managers are assigned with target from Management for Strategic Planning, generating & screening new ideas, implementing new strategies on regular basis to improves the business capacity and making more profit. The employee’s involvement towards the change in trend in business competition and new engineering products implication in the project construction for value additions has identified and monitored by their top managers for performing better than the previous scenarios. Employees play a vital role to reduce the process cost and product cost based on their return on experience with customer feedback’s and supplier / Vendor Feedbacks. Loss of Bids with Bottleneck situation persists during the opening of Tender results in case of Participating in Mega Projects. The Research survey carried out to identify the significance and existence of Innovation & Strategic management Practice in the Engineering, Procurement Construction Firms in Tamil Nadu. The results are indicating that Management of Enterprises should encourage their employees even better to think out of the box for Process & Product cost optimization for market survival.

Key words: Innovations, Strategic management, EPC organizations, Performance management, Process, Product innovations.


 
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Pubmed Style

Mr. Nagarajan Muthukrishnan. A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU . JCR. 2020; 7(5): 2072-2080. doi:10.31838/jcr.07.05.356


Web Style

Mr. Nagarajan Muthukrishnan. A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU . http://www.jcreview.com/?mno=120566 [Access: August 17, 2021]. doi:10.31838/jcr.07.05.356


AMA (American Medical Association) Style

Mr. Nagarajan Muthukrishnan. A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU . JCR. 2020; 7(5): 2072-2080. doi:10.31838/jcr.07.05.356



Vancouver/ICMJE Style

Mr. Nagarajan Muthukrishnan. A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU . JCR. (2020), [cited August 17, 2021]; 7(5): 2072-2080. doi:10.31838/jcr.07.05.356



Harvard Style

Mr. Nagarajan Muthukrishnan (2020) A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU . JCR, 7 (5), 2072-2080. doi:10.31838/jcr.07.05.356



Turabian Style

Mr. Nagarajan Muthukrishnan. 2020. A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU . Journal of Critical Reviews, 7 (5), 2072-2080. doi:10.31838/jcr.07.05.356



Chicago Style

Mr. Nagarajan Muthukrishnan. "A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU ." Journal of Critical Reviews 7 (2020), 2072-2080. doi:10.31838/jcr.07.05.356



MLA (The Modern Language Association) Style

Mr. Nagarajan Muthukrishnan. "A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU ." Journal of Critical Reviews 7.5 (2020), 2072-2080. Print. doi:10.31838/jcr.07.05.356



APA (American Psychological Association) Style

Mr. Nagarajan Muthukrishnan (2020) A STUDY ON SIGNIFICANCE OF INNOVATION & STRATEGIC MANAGEMENT IN ENGINEERING PROCUREMENT AND CONSTRUCTION FIRMS OF TAMIL NADU . Journal of Critical Reviews, 7 (5), 2072-2080. doi:10.31838/jcr.07.05.356