The performance assessment done by objective measures have now been replaced with subjective measures. Within the context of this research / interdependencies between a construction company&rsquo / s &ldquo / resources and capabilities&rdquo / , &ldquo / project management capabilities&rdquo / , &ldquo / strategic decisions&rdquo / , &ldquo / strength of relationships with other parties&rdquo / and &ldquo / external factors&rdquo / with &ldquo / project performance&rdquo / and &ldquo / company performance&rdquo / were investigated from a resource based perspective which put forward intangible assets of the company. To achieve the objectives, a questionnaire survey was administered to 73 Turkish contractors and the data obtained from 354 projects that were held during the last five years were analyzed using structural equation modeling (SEM). It was hypothesized in this study that construction company performance is influenced by the resources and capabilities within the company, the long-term and short-term strategies adopted by the company, the strength of the relationships of the company with other parties involved in construction projects, external factors and project management competencies. A structural equation model was set up to measure the seven latent variables through their constituent variables and to see if the hypothesized relationships exist. Based on the findings of this study, it can be concluded that, this research has introduced a method to measure performance both in subjective (qualitative) and the objective (quantitative) terms. The strong path coefficients between the constructs of the model are an indication that, after decades in pursuit of finding ways to improve the performance of construction companies, subjective dimensions of performance have proven to be as effective as the traditional objective dimensions.

La planification stratégique en tant que processus rationnel a été très critiquée par beaucoup de chercheurs notamment en raison de ses effets incertains et contradictoires sur la performance des entreprises. Certains chercheurs proposent que le processus rationnel soit combiné avec un processus adaptatif afin de construire un processus intégré de planification stratégique qui serait mieux adapté à un environnement de plus en plus dynamique, complexe et incertain.L’objet de cette thèse est, d’une part, d’examiner si la combinaison des deux processus de planification stratégique est plus bénéfique aux entreprises que l’utilisation exclusive de l’un ou l’autre des deux processus et, d’autre part, d’étudier le rôle de cette combinaison dans le développement des capacités organisationnelles et l’amélioration de la performance des entreprises. Pour ce faire, nous avons construit un modèle conceptuel que nous avons testé empiriquement à l’aide d’une étude quantitative à laquelle 335 entreprises européennes ont participé.Les résultats de cette étude montrent que la planification stratégique combinant des caractéristiques de l’approche rationnelle avec des caractéristiques de l’approche adaptative est plus bénéfique aux entreprises. Nous trouvons également que la relation entre la planification stratégique combinée et la performance des entreprises est indirecte. / Strategic planning as a rational process has been strongly criticized by many researchers because of its uncertain and contradictory effects on company performance. As a result, some researchers suggest that the rational process should be combined with an adaptive process in order to build a global process of strategic planning which is better suited to the current dynamic, complex and uncertain environment.The purpose of this research is twofold: to examine whether the combination of the two processes of strategic planning is more beneficial to companies than the exclusive use of one or the other of the two and, to identify the role of this combination in the development of organizational capabilities and in improving company performance. To this end, we have built and tested empirically a conceptual model using a quantitative study in which 335 European companies have participated.The results of this study show that, in one hand, a strategic planning process combining rational with adaptive characteristics is more beneficial to companies and, on the other hand, the relationship between strategic planning and company performance is indirect.