Menu

Types of Organizations

0 Comment

Without any doubt, the United Kingdom is one of the most influential economies on this planet today. According to the official statistics, the United Kingdom has the sixth rank in the list of economies placed according to their nominal GDP. Moreover, the United Kingdom is the fourth country when ranked according to Gross National Income. The United Kingdom holds the title of the first country that moved towards mass level industrialization as early as in the 16th century, and it still has its say in the world economic play being the member of G-8, G-7, G-20, European Union, OECD and WTO. The United Kingdom’s economic gurus understand the fact that their supremacy in the world economy due to their three major sector which contributes heavily to the GDP of the country, services, industry, and agriculture mainly.The industry contributes almost 18 percent to the GDP and more importantly, a significant 5 percent out of this 18 percent share comes from the construction sector of the United Kingdom. In other words, the construction sector of the United Kingdom contributes around 28 percent to the UK industry. Recent statistics reveal that it makes a significant 9.2 percent of the nation’s Gross Value Added (GVA). Moreover, there are more than 250,000 firms in the construction sector employing millions of people (Organisation for Economic Co-operation and Development, pp. 159-163, 2002). However, the recent recession has hit the industry very hard as it has hit the other sector too. Moreover, news from December 2009 suggests that this industry has contracted for consecutive 21 months. However, the rate of declining has been the lowest and is steadily decreasing (Murchie, 2009). It indicates a couple of things. Firstly, that the construction is one of the few sectors that have witnessed the least damage by recession and the sector is on its road to recovery. The paper would now move forward by discussing the major types of organizations amongst these more than 250,000 in the important construction sector of the United Kingdom.