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It seems that the only constant of this rapid‐changing world is the “change” itself – whether it is from the organization itself or from its outer environment. From multinational corporation managers to local franchise investors, abilities to cope with changes are definitely essential. The purpose of this paper is to provide no magic but a framework that helps decision makers watch their steps while making strategic plans.

Working from the perspective of the resource‐based view (RBV) for sustained competitive advantage, the paper looks into the decision‐making process by considering constraints and illusions. The journey of deviation from the ideal goal starts when the decision maker is attracted by a maze of illusions. The paper illustrates the phenomena of escalation of commitment in static and in deterioration‐in‐motion.

For the recovery from an errant path, awareness is of the essence and a constant awareness of the organization's chances and pitfalls would be the only way to regain competitive advantage.

By bringing together the concept of the RBV of competitive advantages and the phenomena of escalation of commitment, the paper provides a concise framework and illustration that is easy to be reminded of for organization decision makers who are constantly facing challenges in this ever‐changing world.

Blockchain as a disruptive technology has revolutionized many industries, such as finance, logistics and manufacturing sectors. This paper aims to explore Blockchain applications in construction to effectively manage project workflows and uplift construction efficiency.

Semi-structured in-depth interviews were conducted with various stakeholders from a public infrastructure project to analyze Blockchain applications in the construction industry. Eleven key construction workflows are selected to identify and discover the necessity and significance of Blockchain applications in the construction industry. They are related to construction program, daily operations and payment. Based on workflow analysis, several issues are discussed to design a development roadmap of Blockchain in the construction industry.

The findings show Blockchain can improve construction efficiency, reduce paper-based manual operation and address the fragmentation and communication issue. However, the development of Blockchain in the construction industry is still impeded by some challenges. Traditional work modes might be existing even though Blockchain-enabled systems are introduced, which may increase the workload of construction practitioners. Thus, a feasible and practical development roadmap is proposed to instruct implementation of Blockchain in construction.

This research systematically analyzes the development of Blockchain in the construction industry from several existing workflows, based on a real-life case study. Several considerations are given to provide referential value for applying Blockchain in the construction industry, including opportunities and challenges, cost–benefit analysis, obstacles and possible solutions, as well as development strategies with a prototype system.