Modelling multi-criteria decision analysis for benchmarking management practices in project management

The link between management practices and worker’s motivations impacting construction productivity is being considered as significant among the research community. This research aimed to identify and analyse the underlying attributes impacting construction productivity from the site management perspective. This research presents a framework designed to analyse and quantify the relative relevance of different drivers in the determination of productivity levels and the degree of effectiveness of potential opportunities for improving performance of overall projects. Owing to the complexity of construction projects and underlying conflicting drivers influencing higher worker’s productivity, the Analytical Hierarchy Process (AHP) is employed to deal with interdependent relationships within a multi-criteria decision-making model. In the analytical approach, the large unstructured decision parameters are identified first and then are broken down into the manageable and measurable components using a top down hierarchical structure. This paper demonstrates an example to illustrate how to empirically analyse and prioritise a set of influencing parameters as selection criteria in devising appropriate management practices to ensure higher productivity vis-à-vis optimum performance of projects.

Patient safety ethics and human error management in ED contexts part I : development of the global patient safety movement

In recent years there has been increasing recognition internationally that health care is not as safe as it ought to be and that patient safety outcomes need to be improved. To this end patient safety has become the focus of a world-wide endeavour aimed at reducing the incidence and impact of preventable human errors and related adverse events in health care domains. The emergency department has been identified as a significant site of preventable human errors and adverse events in the health care system, raising important questions about the nature of human error management and patient safety ethics in rapidly changing environments. In this article (the first of a two-part discussion on the subject) an overview of the incidence and impact of preventable adverse events in ED contexts is explored. The development of a ‘culture of safety’ in other hazardous industries and the ‘lessons learned’ and applied to the health care industry are also briefly examined. In a second article (to be presented as Part II), some of the ethical tensions that have arisen in the context of implementing patient safety processes and their possible implications for ED contexts are explored.

Accounting for goodwill on consolidation

The issue of accounting for goodwill has caused considerable concern to accountants and academics. For over 100 years there has been diversity of views as to the nature, recognition and measurement of goodwill. Such diversity of views has contributed to the adoption of a variety of accounting practices for goodwill, which has lead to attempts to regulate practice by accounting professions in the Anglo-American world. The research conducted involves a literature review to identify the concepts and definition of goodwill and the criteria for its recognition and measurement. the investigation will then concentrate upon goodwill arising on consolidation of the financial statements of a group of companies. Major accounting practices will be examined, along with the requirements of the australian and mojor overseas professions on the issue. The findings of a study of listed Australian companies which investigated the accounting policies adopted for goodwill on consolidation before and after regulation of the issue and which sought views upon some of the conceptual issues involved are reported and discussed. Implications of the research for the Australian accounting profession will be addressed, and recommendations will be propsed together with a description of future research opportunities.

Nature, extent and antecedents of risk managment practices in knowledge-intensive firms

This study provides empirical evidence on the nature and extent of risks faced by Small to Medium-Sized Knowledge Intensive Firms (SMKIFs) and the risk management approaches adopted by them. The study also assesses the effects of selected organisational factors such as industry, entity size and risk governance leadership on the commitment by SMKIFs to using an Enterprise Risk Management (ERM) approach. Data was obtained through a questionnaire survey of SMKIFs in the state of Victoria, Australia which were either in the bio-technology (bio-tech) or the accounting and legal (business services) industry sectors. Based on a total of 104 (13%) useable responses from senior managers in charge of risk management, some of the key findings include the identification of the top three risks faced by SMKIFs being (i) potential damage to firm’s reputation, (ii) inability to recruit and retain workers who have appropriate skills and expertise, and (iii) increase in costs. Interestingly, while 51% of the respondents described their firms as being willing to or keen to take risks, 38% saw their firms as being either preferring not to take risks or refuse to take risks, with the remainder of the firms (11%) viewed as neutral. The data also indicates that more than half of the respondent firms (54%) had established either a complete or a partial ERM system. Further, data analysis based on a binary logit regression model indicates bio-techs, firm size and directors’ support of risk management as key predictors of ERM implementation in SMKIFs.

Corporate governance : some key challenges and opportunities for accounting researchers

The focus on corporate governance has grown exponentially over the last decade. As evidenced by the increasing number of codes of best practice developed by leading international bodies such as the OECD, the Commonwealth and CalPERS (refer Demirag et al. (2000) for a fuller list of publications), corporate governance reform has now become a key global issue. Not only do factors such as the increasing globalisation of financial markets, the growth in multinational corporations and regional economic developments motivate the need for good corporate governance, but the recent spate of large corporate collapses such as Enron and WorldCom in the United States and HIH Insurance in Australia clearly signal the urgency for significant improvements in corporate accountability and reporting.

Business ethics and the accounting profession

Business ethics emerged as a major public concern following a spate of corporate collapses during the 1980s and early 2000s, Corporate collapses such as HIH and Harris Scarfe in Australia; Enron, Worldcom and Global Crossing in the US; and Parmalat in Europe, have precipitated questions about the business and accounting practices of these firms and the role played by their accountants and auditors, According to Armstrong et al. (2003, p, 1), one can hardly pick up a business publication today without noting some reference to an accounting scandal....The sheer number of accounting abuses serves as prima facie evidence that something more is needed in terms of accounting ethics.

Perspectives on assessment practices in Australian journalism education

Claims from both educational and industry sides about what journalism students should be learning are not new, and not confined to Australia. European debates on the nexus between practical training and theoretical capacity extend to those by American journalism educators, who share concerns about how journalism schools can accommodate both theory and practice (Adam 2001; Bjork 1996; Bromley & Servaes 2006; Dickenson & Brandon 2000; O’Donnell 2001-02; Rosenbaum 2002; Ricketson 2005). These discussions merge coherently with initiatives undertaken by Australian universities to ensure graduates from any discipline are equipped with a set of measurable skills (or attributes)appropriate to the international context of higher education. The paper explores this tension through the lens of assessment in journalism education, and does so by drawing mostly upon education theory. It suggests some possible ways to cater for media industry pressure on universities to cut theory and concentrate on practice, while accounting for the educator’s responsibility to promote learning in line with graduate attributes such as the capacity to function as a global citizen, a capacity for critical evaluation, and a deep knowledge of the field of study.

Knowledge sharing in professional accountancy firms : the effects of task complexity and management control system

Numerous empirical studies on knowledge management have focused on effectiveness of enablers such as organizational structure (Bennett and Gabriel, 1999; Gold et al., 2001), technology (Gold et al., 2001; O’Dell and Grayson, 1998), culture (DeLong and Fahey, 2000; Gupta and Govindarajan, 2000), managerial system (Nonaka, 1994; Sveiby, 1997) and strategy (Bierly and Chakrabarti, 1996; Holsapple and Joshi, 2001) on knowledge sharing. These enablers are organizational infrastructure or mechanism for facilitating the sharing of knowledge in a firm. In knowledge-intensive firms, task complexity and management control systems (MCS) can potentially affect the mode and effectiveness of knowledge sharing. However, these two factors have not been distinctly and explicitly investigated and discussed in literature relevant to the domain of knowledge sharing and management. This study proposes to examine how task complexity and the design of MCS could be the key determinants of the mode and effectiveness of knowledge sharing in professional accounting firms or practices.

Overseas Chinese as expatriate managers in China : is their recruitment a solution to cross-cultural management problems for multinationals operating in China?

The rapid economic development has gravitated businesses into the Chinese market. It’s entry into the World Trade Organization in 2001 made her an even more formidable player in the global economy and direct foreign investment surged. Yet it is acknowledged that for the foreign investor in China, cross-cultural issues create difficulty at every level, from the intercultural level relating to communication and negotiation, to the organizational level relating to decision making, human resource management practices, corporate legal institutions and dealing with governments. Western multinationals have considered the advantages of posting overseas Chinese, from Southeast Asian countries, Taiwan Hong Kong and etc. But has this policy been successful? In terms of language expertise and cultural literacy this would seem to be a good strategy, yet organizational case material contradicts this in reality. Overseas Chinese, while sharing some elements of Chinese culture with mainland Chinese, the Confucian heritage and other aspects such as language, diet, etc, nevertheless have different world views and values and behave differently from mainland Chinese in areas critical to business management. As a survival strategy, overseas Chinese often developed dual identities operating simultaneously. For many of them, for political and historical reasons, they have had to adapt to the local culture or even hide their own ethnicity in order to survive. On the other hand, the mainland Chinese are different in the sense that their behaviour has only had to be Chinese, but overlaid with this has been the experience of participating in a communist political environment for decades, which has left its mark on mainland Chinese culture. On the basis of this, in the current business environment in China confusion, difficulties and conflict may occur for the overseas Chinese. This paper aims to provide insights of the cultural differences between the overseas Chinese and mainland Chinese. It provides evidence that overseas Chinese are not often favoured by the local Chinese. This problem has yet to be researched in depth within international business and international management studies. It draws the attention to issues on how to manage the local Chinese.

Professional identity in the global sports entertainment industry : regulating the body, mind and soul of Australian Football League footballers

In this article we discuss the ways in which the professional identity of Australian Football League (AFL) footballers — in a physical, high body contact sport — is shaped by concerns to develop different aspects of the body, mind and soul of the young men who want to become AFL footballers. Drawing on Michel Foucault’s later work on the care of the self we argue that narratives of identity necessarily involve a struggle for the body, mind and soul of these young men. Foucault’s work enables us to identify and analyse how relations of power, forms of regulation and arts of governing interact in ongoing attempts to develop the professional footballer. The article explores these issues via an analysis of the rationalities and techniques that inform talent identification and player management practices; and risk management in relation to these practices and processes in the AFL.

Globalising water accounting : lessons from the globalisation of financial reporting

Water management is a matter of global concern. To underpin sound management of water scarcity and quality issues requires high quality, consistent, understandable and credible information. In a world first, accounting and water industry experts in Australia have developed a system of water accounting as an accounting sub-discipline, analogous to financial accounting to guide national and intra-national decision-making. With a conceptual framework and a Preliminary Australian Water Accounting Standard in place, Australia’s approach is being evaluated internationally within the water and mining industries. Its fate as a discipline will depend upon regulatory politics as well as the intellectual and practical rigour of the system and the rate of its adoption. In this paper, we explore the application to water accounting of regulatory theories that have been valuable to gaining an understanding of financial accounting standards development. We predict the international path of the water accounting a sub-discipline of accounting, as an outcome of political forces.

Use of wild fish and other aquatic organisms as feed in aquaculture; a review of practices and implications in the Asia Pacific

Global and Asian aquaculture have witnessed a ten-fold increase in production from 1980 to 2004. However, the relative percent contribution to production of each of the major commodities has remained almost unchanged. For example, the contribution of freshwater finfish has declined from 71 to 66 percent in Asia but has remained unchanged globally over the last 20 to 30 years. This fact has dictated trends in the use of fish as a feed for cultured stocks. The growth in the sector has gone hand in hand with an increasing dependence on fish as feed, either directly or indirectly. In a number of countries in the Asia-Pacific region, the aquaculture sector has surpassed the capture fisheries sector in its respective contributions to the gross domestic product (GDP). Aquaculture’s increased contribution to national GDPs can be taken as a clear indication of the contribution of the sector to food security and poverty alleviation. The use of finfish and other aquatic organisms as a feed source can be through direct utilization of whole or chopped raw fish in wet form, through fishmeal and fish oil in formulated feeds, and/or as live fish, although the latter is uncommon and the overall amounts used are relatively small. In the first two categories, the fish used are often termed “trash fish/low-value fish”. Although attempts have been made to define this term, all definitions have a certain degree of ambiguity and/or subjectivity. In this regional review, the amount of fish used as feed sources based on the above categories was estimated primarily from the production data, supported by assumptions on the inclusion levels of fishmeal in formulated feeds and observed feed conversion efficiencies for both formulated feeds and for stock fed trash fish/low-value fish directly. A scenario for the use of fish as feed was developed by starting from the levels of aquaculture production recorded in 2004 and assuming increases in production volumes of 10, 15 and 20 percent by 2010, respectively, for the three trajectories. In parallel, the pattern of wild fish use as feed was projected to change as fish and shrimp farmers increasingly replace farmmade feeds by incorporating trash fish/low-value fish with manufactured feeds that include fishmeal. Also, the fishmeal inclusion rates in manufactured feeds are falling slowly, and this has been incorporated into the projections. The regional review also deals with the production of fishmeal using trash fish/low-value fish in the Asia-Pacific region. Regional fishmeal production as a whole is relatively low when compared with that of major fishmeal-producing countries such as Chile, Iceland and Norway, amounting to approximately 1 million tonnes per year. However, there is a trend towards increasing the use of fish industry waste, such as from the tuna canning industry in Thailand. The fishmeal produced in the region is priced considerably lower than globally traded fishmeal, but its quality is poorer. Total fishmeal use in Asian aquaculture in 2004 was estimated as 2 388 million tonnes, the highest proportion of this being used for crustacean aquaculture (1 418 million tonnes). Based on growth predictions (to year 2010) in the sector and improvements to feed quality and management, it is expected that the quantity of fishmeal used in Asian aquaculture will be slightly less than at present. An estimated 240 000 tonnes of fish oil is used in Asian aquaculture, principally in shrimp feeds. Based on production estimates of commodities in 2004 that rely on trash fish/low-value fish as the main feed source, this regional review suggests that Asian aquaculture currently uses between 2 465 and 3 882 million tonnes, an amount that is predicted to decrease to between 1.890 and 2 795 million tonnes by 2010. The use of trash fish/low-value fish and fishmeal by the aquaculture sector has been repeatedly adjudicated as a non-sustainable practice, and globally the sector is seeking to reduce its dependence on fish as feed through improved feed management practices and development of better quality feeds and feed formulations using alternative ingredients. Over the next few years, decreases in the use of trash fish/low-value fish are also expected to be achieved through better conversion of raw materials into fishmeal and fish oil during the reduction processes. The “way forward” in addressing the issue of the use of fish as feed in aquaculture in the Asia-Pacific region includes the need for a concerted regional research thrust to reduce the use of fish as feed sources in aquaculture, as has been achieved in the animal husbandry sector. Secondly, there is a need to increase farmer awareness on the use of trash fish as feed. This is achievable, considering the similar progress that has been made by the region’s shrimp farming sector, which almost exclusively involves small-scale practitioners who are often clustered in a given locality. The analysis also suggests that the use of trash fish/low-value fish in aquaculture may be compatible with improving food security and alleviating poverty. In Asia, trash fish/low-value fish is mostly landed in areas where there are other suitable fish commodities for human consumption. To make the trash fish/low-value fish suitable and available for human consumption would involve some degree of value-adding and transportation costs, which are likely to increase the price to beyond the means of the consumer, particularly in remote rural areas. Under such a scenario, the direct or indirect use of this perishable resource as a feed source to produce a consumable commodity appears to make economic sense and appears to be the most logical use for overall human benefit. In this manner, trash fish/low-value fish contributes to food security by increasing income generation opportunities and hence contributes to poverty alleviation. Another factor that needs to be taken into account is the large numbers of artisanal fishers who harvest this raw material. The continued use of trash fish/low-value fish, therefore, allows these fishers to maintain their livelihoods¹. Admittedly, this is an area that warrants more detailed investigation, from resource use, livelihoods and economic viewpoints.