Marketing VM services to achieve competitive advantage in the Malaysian Construction Sector

Value Management (VM) has been proven to provide a structured framework, together with supporting tools and techniques that facilitate effective decision-making in many types of projects, thus achieving ‘best value’ for clients. It is identified at International level as a natural career progression for the construction service provider and as an opportunity in developing leading-edge skills. The services offered by contractors and consultants in the construction sector have been expanding. In an increasingly competitive and global marketplace, firms are seeking ways to differentiate their services to ever more knowledgeable and demanding clients. The traditional demarcations have given way, and the old definition of what contractors, designers, engineers and quantity surveyors can, and cannot do in terms of their market offering has changed. Project management, design and cost and safety consultancy services, are being delivered by a diverse range of suppliers. Value management services have been developing in various sectors in industry; from manufacturing to the military and now construction. Given the growing evidence that VM has been successful in delivering value-for-money to the client, VM would appear to be gaining some momentum as an essential management tool in the Malaysian construction sector. The recently issued VM Circular 3/2009 by the Economic Planning Unit Malaysia (EPU) possibly marks a new beginning in public sector client acceptance on the strength of VM in construction. This paper therefore attempts to study the prospects of marketing the benefits of VM by construction service providers, and how it may provide an edge in an increasingly competitive Malaysian construction industry.

The role of the audit committee and institutional investors in constraining earnings management : evidence from Chinese firms listed in Hong Kong

Using data from 2004 to 2008, we find that an audit committee is an important monitoring mechanism as audit committee independence, expertise and size are associated with reduced levels of abnormal accruals, our measure of earnings management. This study also attempts to discern when the monitoring role of the audit committee is more salient for the firm. We find that ownership concentration and the presence of government officials on the audit committee are important determinants of the negative association between audit committee characteristics and earnings management. In contrast, we find no significant associations between the audit committee and abnormal accruals for Chinese firms listed only on the Chinese domestic Stock Exchanges. The paper contributes to the corporate governance literature in a transitional economy. Identifying the role of audit committees of firms listed on markets other than the domicile market demonstrates the importance of considering the institutional setting in governance research.

Can an effective audit committee help to mitigate earnings management in Chinese firms listed in Hong Kong?

This paper attempts to determine whether the adoption of recommended corporate governance practices by Chinese firms is associated with less earnings management proxied by abnormal accruals. We examine the role of the audit committee and ownership concentration in preventing earnings management using Chinese firms listed in Hong Kong. The results of this preliminary analysis show that the frequency of audit committee meetings is associated with reduced levels of abnormal accruals, our measure of earnings management. We conclude that audit committee activity is an important factor in constraining the propensity of managers to engage in earnings management. In contrast, we find that the size of the audit committee is associated with increased levels of abnormal accruals and suggest that increasing the size of the audit committee creates information asymmetry between the audit committee and management that reduces the monitoring capacity of the audit committee. We do not find any association between audit committee independence, financial and industry experience, or ownership concentration and abnormal accruals.

Diarrhoea risk factors in enterally tube fed critically ill patients : a retrospective audit

Objective: Diarrhoea in the enterally tube fed (ETF) intensive care unit (ICU) patient is a multifactorial problem. Diarrhoeal aetiologies in this patient cohort remain debatable; however, the consequences of diarrhoea have been well established and include electrolyte imbalance, dehydration, bacterial translocation, peri anal wound contamination and sleep deprivation. This study examined the incidence of diarrhoea and explored factors contributing to the development of diarrhoea in the ETF, critically ill, adult patient. ---------- Method: After institutional ethical review and approval, a single centre medical chart audit was undertaken to examine the incidence of diarrhoea in ETF, critically ill patients. Retrospective, non-probability sequential sampling was used of all emergency admission adult ICU patients who met the inclusion/exclusion criteria. ---------- Results: Fifty patients were audited. Faecal frequency, consistency and quantity were considered important criteria in defining ETF diarrhoea. The incidence of diarrhoea was 78%. Total patient diarrhoea days (r = 0.422; p = 0.02) and total diarrhoea frequency (r = 0.313; p = 0.027) increased when the patient was ETF for longer periods of time. Increased severity of illness, peripheral oxygen saturation (Sp02), glucose control, albumin and white cell count were found to be statistically significant factors for the development of diarrhoea. ---------- Conclusion: Diarrhoea in ETF critically ill patients is multi-factorial. The early identification of diarrhoea risk factors and the development of a diarrhoea risk management algorithm is recommended.

Internet usage, internet marketing intensity and international marketing growth

This paper examines the role of the Internet in international marketing growth. Evidence of a positive relationship between e-mail, website usage, online marketing and advertising with international market growth was found, in terms of increased sales from new customers in new countries, new customers in existing countries, and existing customers.

Sports sponsorship as an integrated marketing communications tool : an Australian sponsor's perspective

Sports sponsorship increasingly provides organisations with the opportunity to reach their target audiences in a manner that facilitates engagement and encourages relationship development. This paper provides an Australian perspective of the value of sports sponsorship using a case study of WOW Sight and Sound’s long-term sponsorship of the Brisbane Broncos rugby league team. The case study investigates WOW’s marketing objectives which centre generating brand awareness using sponsorship with the Brisbane Broncos as an integrated marketing communications tool. WOW believes that the integration of its sponsorship of the Broncos with the team’s total marketing plan is integral to its success. This integration requires the facilitation of two-way communications between WOW, its advertising agency, the Brisbane Broncos and customers to ensure that all parties’ needs are met.

Engaging marketing students : student operated businesses in a simulated world

Engaged students are committed and more likely to continue their university studies. Subsequently, they are less resource intensive from a university’s perspective. This article details an experiential second-year marketing course that requires students to develop real products and services to sell on two organized market days. In the course, students participate as both consumers and marketers in a simulated world. The current article explores the effectiveness of this experiential assessment in terms of its ability to engage students. Comparing student engagement to a traditional lecture course and National Survey of Student Engagement benchmarks, the results suggest that the use of a simulated marketplace is capable of engaging students. Specifically, the assessment reported encourages more active learning and collaboration, is more academically challenging, and permits more student–faculty interaction than a traditional lecture-based course. The course structure outlined in this article permits the dynamics of a live marketing environment to be introduced into the classroom. The authors provide practical advice for educators seeking to design and implement engaging pedagogy.

The pitfalls of publicizing ethics research

What happens to our research once it hits the popular media? Do marketers know how to promote our research in a way that is understandable and complete, while still capturing an audience? This case study follows the dissemination of the results of a consumer ethics study via a single press release, along with the resulting media coverage, interviews and audience comments. Perhaps in their quest for a touch of controversy, the story picked up by the popular press was not the one intended by the authors. If getting the public story right is important, marketing academics need to spend as much time carefully crafting their press releases as they do writing journal manuscripts – they may not be able to rely on the ethics of media sub-editors who choose controversial headlines.

Advertising & Promotion : An Integrated Marketing Communications Approach, 2nd Edition [Book Review]

Advertising & Promotion’s second edition maintains a sharp and updated focus on the advertising industry, providing interesting ideas for both students and advertising professionals. Not only does the author demonstrate how agencies, businesses and organisations research, create and monitor particular campaigns, but also the extent to which advertising texts are themselves embedded in everyday contemporary culture. For me one of the strengths of the book is how the research brings together the managerial side of the industry, its sociology and political dynamics, with the cultural and ethical implications of advertising consumption.

An application of the CBBE model to assess brand loyalty for a long haul travel destination

In the past two decades there has been increasing interest in branding tourism destinations in an effort to meaningfully differentiate against a myriad of competing places that offer similar attractions and facilities. The academic literature relating to destination branding commenced only as recently as 1998, and there remains a dearth of empirical data that tests the effectiveness of brand campaigns, particularly in terms of enhancing destination loyalty. This paper reports the results of an investigation into destination brand loyalty for Australia as a long haul destination in a South American market. In spite of the high level of academic interest in the measurement of perceptions of destinations since the 1970s, few previous studies have examined perceptions held by South American consumers. Drawing on a model of consumer-based brand equity (CBBE), antecedents of destination brand loyalty was tested with data from a large Chilean sample of travelers, comprising a mix of previous visitors and non-visitors to Australia. Findings suggest that destination brand awareness, brand image, and brand value are positively related to brand loyalty for a long-haul destination. However, destination brand quality was not significantly related. The results also indicate that Australia is a more compelling destination brand for previous visitors compared to non-visitors.

The social media (r)evolution : Obama's political campaign

This paper addresses how social media was used to leverage votes in new media environments. Barack Obama’s social media campaign is analysed and illustrates how the Obama brand benefited from integrating social media into the campaign. Voting behaviour has changed; politicians are continually seeking new ways to communicate with their constituents. Voting on political ‘brands’ is based on an identity or image, rather than central issues. While political parties rely upon an integrated marketing communication (IMC) approach, with a focus on building the (political) brand of the party and brand relationships, communication is no longer fully controlled by the marketers.

The Blair Witch Project : a marketing case study

The Blair Witch Project was a low budget movie made by student filmmakers that become an international box office hit in 1999. Blair Witch was a landmark in movie marketing and distribution because it was the first time that any movie had successfully leveraged the Internet as a marketing platform to reach a wide audience. The marketing team employed a range of innovative strategies and tactics to stimulate audience demand. This case study describes and analyses the success of the marketing launch of The Blair Witch Project.It also provides an Instructors booklet comprising seven questions and answers related to the marketing success of the movie.