The International Institute for Science, Technology and Education (IISTE)
Abstract
The essence of this paper therefore, is to bring out the impact of innovation of the Construction industry in Ghana and also to establish tangible and intangible benefits associated with innovation. Analysis of the relevant literature indicates the impact and the problem of slow adaptation of innovation and new ways of working within the construction industry is a great concern to most organization that operates within and outside the industry. To bridge this conservatism attitude of innovation in the industry, it is fundamental to explore the impact and for that matter the benefits of innovation within the industry. This paper however, seeks to embark on this investigation on the impact of innovation and to bring to light its related benefits and how these would be achieved. Data were collected among construction professionals (Consultants) and Contractors via questionnaires supported by informal interviews. Analysis of the data was done using simple percentage method and the findings were represented in the form of pie-chart and bar-chart using micro-soft excel programme. The study established that innovation within an industry brings about increased in economic growth and profitability. The study also revealed that ease of working at a lower cost with much precision is assured when there is innovation Recommendation of effective coordination between Consultants and Contractors must exist to facilitate innovation beginning from research and development set-up within the firms. Keywords: Impact; innovation; Construction; industry; Ghan
