Second objective was to determine competition

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Second objective was to determine competition attributes for evaluation. The third goal was to verify the effectiveness of evaluation method by conducting a case study. The ultimate goal of this study was to provide managers of real estate development firms with useful tools for improving their companies‘ competitiveness. 6.3 GENERAL CONCLUSION Three rounds of a questionnaire survey were carried out to achieve the objectives of the study, including: identifying appropriate competitive attributes; investigating the status of the company in the case study; and determining the effectiveness of the research results. Through these rounds of survey, the competition evaluation system was first established, then its procedures were illustrated, and finally the results of the research were validated. The results were discussed in detail in Chapters 3 through 5. The general conclusions are as follows:
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158 6.3.1 Competition Evaluation Method for Real Estate Developers This study developed comprehensive indicators competitiveness evaluation method tailored to the Chinese real estate industry. Following a thorough literature review, it was determined that there are three dimensions to competitiveness, namely: micro, meso and macro. These levels can also be expressed as: firm or organisation competitiveness, industry competitiveness, and national competitiveness. The concept of competitiveness as relevant to this study is at the micro level i.e. firm or organisation competitiveness. At this level, there are many theories concerning competitiveness from a number of different economic perspectives, such as: competitive advantage and strategy model, resource based view and core competence approach, and strategic management approach. Based from these varied theories of competitiveness, different evaluation methods have been formulated, such as: cost- benefit analysis, resource-based viewpoints, ranking style and so on. Various methods of assessing the competitiveness of real estate developers were also presented. These were derived from basic methods. It was found that many existing evaluation methods are based on the specific conditions in some industries, and are applied under different market, environment and industrial backgrounds. However, given the specific characteristics of the real estate industry - such as localisation, complicated and long contractual processes, resource intensiveness, and high risk accompanied by high potential return - the comprehensive indicators competition evaluation method is clearly the most suitable for this industry. This is supported by industry experts and practitioners, the majority of who agreed that the comprehensive
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159 attributes evaluation system is appropriate for evaluating the competitiveness of real estate developers.
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