The increasing importance of sustainability for building ownership

Purpose — This study seeks to investigate the degree to which energy efficiency is incorporated into office building refurbishment and capital expenditure with the emphasis placed on a cost-benefit analysis from the owner’s perspective.
Design/methodology/approach – In order to develop a research framework, a thorough literature review was conducted of three disciplines being construction technology, building refurbishment and property management. The study identifies differences between varying levels of capital expenditure to ensure an existing building is more energy efficient, with the emphasis placed on the cost of implementation and the potential for tenants to acknowledge the increased energy efficiency via higher rents.
Findings – Office buildings have been identified as a contributor to global warming during the construction phase, however during the building lifecycle there is a greater contribution to CO2 omissions. Whilst various building designs and construction techniques have evolved to improve energy efficiency, the focus has largely been placed on new buildings where it is easier to incorporate change and innovative approaches. However, the proportion of new buildings constructed each year is relatively small in comparison to existing building stock, which requires regular capital expenditure to maintain and attract new tenants within a competitive marketplace.
Practical implications – The increasing importance of energy efficiency affects the office market in a variety of different ways.
Originality/value – This paper identifies important links between the environment and the built environment, and the implications for office building owners.

Delivering sustainability in office building refurbishment

The effect of climate change and global warming continues to receive attention with many governments and organisations acknowledging the long-term problems associated with the trend, although offering limited realistic solutions. Office buildings have been identified as a contributor to global warming during the construction phase, however during the building lifecycle there is a greater contribution to CO2 omissions. Whilst various building designs and construction techniques have evolved to improve energy efficiency, the focus has largely been placed on new buildings where it is easier to incorporate change and innovative approaches. However, the proportion of new buildings constructed each year is relatively small in comparison to existing building stock, which requires regular capital expenditure to maintain and attract new tenants within a competitive marketplace. Overall the degree to which capital expenditure for an existing building actually includes energy efficiency is difficult to measure, although appears to lag substantially behind sustainable building techniques for a new building.

This study investigates the degree to which energy efficiency is incorporated into office building refurbishment and capital expenditure, with the emphasis placed on a cost-benefit analysis from both the owner’s and tenant’s perspective. Whilst it may be argued that a newly constructed energy efficient office building may be cost prohibitive, various steps may be taken to upgrade the energy efficiency of an existing building. This project identifies differences between varying levels of capital expenditure to ensure an existing building is more energy efficient, with the emphasis placed on (a) the cost of implementation and (b) the potential for tenants to acknowledge the increased energy efficiency via higher rents. In order to develop a research framework, a thorough literature review was conducted of three disciplines being construction technology, building refurbishment and property management.

The increasing importance of housing demography in the 21st century

To many, demography is an area which traditionally focuses upon macro issues such as migration and population forecasts. However traditional economic indicators cannot always observe the degree of purchaser and vendor willingness and therefore consideration should also be given to characteristics of buyers and sellers in the marketplace. This study draws the disciplines of housing research and demography closer and looks to social indicators for an insight into residential housing markets. This research analysed changes in the value of established residential house prices in Brisbane and the influence of variations in demographic variables on a dynamic time series basis. The results confirmed the existence of strong linkages between demographics and established house prices. While it is acknowledged that established house values are significantly influenced by external economic and political factors, this research confirmed that serious consideration must also be given to the increasing importance of housing demography

Understanding residential house prices : examining the contribution of social area analysis

A complete understanding of residential housing markets, particularly in relation to variations in house prices both within and between suburbs, continues to present challenges to property researchers and forecasters. Factors affecting changes in housing demand are not yet completely understood, and accordingly market changes cannot always be confidently predicted. Most urban cities contain precincts that have high or low house values at the same time, regardless of characteristics such as distance to the city centre, location of transport or topography. Exactly why these variations in suburb values occur is often unclear, although local residents are able to easily identify differences between the status of each suburb, especially when one area is clearly perceived as superior to another. Consequently, houses in premium suburbs are sold for substantially more than houses in other areas, primarily due to this perceived higher demand. An understanding of reasons behind varying levels of buyer demand has always been difficult to fully encapsulate in housing studies, even though clear links have been observed between housing affordability and the type of inhabitant that would live in a particular area. This study confirms that traditional economic indicators can not always observe the degree of purchaser and vendor willingness in the residential property market, as per the International Valuation Standards Committee definition of market value, and substantial consideration must also be given to characteristics of individual buyers and sellers within the marketplace. No longer can the focus be narrowly focussed just on endogenous factors such as interest rates and inflation levels.
Accordingly, this research draws the disciplines of demography and housing research closer together and looks to social indicators for an insight into the level of house prices. To establish this link, a two-stage process is adopted where social area analysis initially identifies the characteristics of suburbs within an urban area. This information is then used to examine variations in suburb values, resulting in a clearer understanding of the relationship between demographic variables and house prices. This research analysed changes in the value of established residential house prices in Melbourne, Australia as well as the relationship with social structure. The added dimension of time highlighted change, with data drawn from 1996 and 2001. The results confirmed the existence of strong linkages between social constructs and established house prices. Whilst acknowledging that the overall level of house values is influenced by external economic and political factors, differences between suburb values can be explained by demographic variables. The results confirm that increased emphasis must be placed upon demography when seeking to understand variations in residential property values between urban areas.

The increasing importance of serviced offices as a competing land use in global cities

Once considered a relatively low key land use in central business districts, the number of serviced offices has increased dramatically in recent years. The factors driving the demand for serviced offices have changed, and the suppliers of this service have reacted quickly to meet these needs. This trend has been assisted by the expansion of a select number of multi-national companies that specialise in the provision of serviced offices, available in a flexible range of office types and costs.
This paper considers the reasons behind the rapid growth in the serviced office market, and examines the role of both the user and the provider. Attention is focused on the global marketplace and how these changes have been transformed into the Australian central business districts. The information will be of benefit to property analysts, developers and investors, especially when seeking an alternative use of existing traditional office accommodation.

The emergence of the global workplace : opportunities and barriers for building surveyors in Oceania

The Royal Institution of Chartered Surveyors (RICS) the professional body representing surveyors in the UK, has implemented a policy to globalise in order to meet the challenges and opportunities the global marketplace was creating for its members as well as protecting and serving its interests (RICS, 1999). Quantity surveyors had a presence and history of employment outside the UK, particularly in the Middle and Far East. Real estate surveyors found the transition to working in European Union (EU) countries relatively straightforward and numerous UK real estate organisations have European, Asian, North American and Oceanic offices. Additionally UK based firms establishing partnerships with overseas real estate firms expanded significantly over the previous decade. Building Surveying is different. Small numbers worked in commonwealth countries but in most countries their professional and academic qualifications were not recognised. With the changes implemented by the RICS, this paper examines the barriers and opportunities facing RICS Chartered Building Surveyors (CBS) in Oceania (taken as Australia, New Zealand, Papua New Guinea and Fiji).

A desk top study reviewed the political, economic and sociological variables affecting employment opportunities and professional services which were put to the RICS Oceania Building Surveying Faculty. No previous study had been undertaken to identify the specific barriers and opportunities in Oceania for the BS and this research adopted a census survey of RICS practitioners currently employed in the region and the results form the most comprehensive picture of the current position. The findings are that some of the opportunities and barriers will change in significance over time. The main barriers to growth were perceived as lack of support from a Euro focussed RICS and the difficulties associated with being perceived as outsiders. Opportunities were perceived as emerging in new areas of professional services such as sustainability and energy efficiency.

Complexity sciences and business ethics : a different perspective

This paper strives to shed some light on organizations' behaviours and practices of business ethics in the marketplace and the surrounding society by the aid of complexity sciences. For this purpose, a conceptual discussion will be based upon the causal frameworks of teleology introduced by Stacey, Griffin and Shaw (2000).

New educational service products : tertiary EC/EB education - the Asia-Pacific region

Electronic Commerce (EC) / Electronic Business (EB) has been (and is expected to continue to be) a dynamic, rapidly evolving area of technology, requiring skilled people with up-to-date knowledge and skills. The global community has required (and still requires) tertiary academic programs to prepare and train these people quickly. In the late nineties, following a tidal wave of tertiary EC program development in the United States, new tertiary programs began to appear in the Asia-Pacific (AP) region to satisfy this need, over a very short period of time. This research project aims to examine whether the development and effectiveness of tertiary EC/EB educational programs can be enhanced through employing a particular marketing paradigm. Four regions - Australia, New Zealand, Hong Kong SAR and the Republic of Singapore — were selected from the AP region, for this study. Based on a review of marketing literature, an inductive approach is adopted to build a model for new educational service product offerings. I also provide a description and comprehensive analysis of EC/EB education, and explore the model empirically, examining how it applies to the way EC education programs have been developed, to date. Essentially, this project consists of two major activities: theory building and theory testing – and is divided into three parts. Part 1: Preliminary study – literature review for theory building. This section of the thesis provides a literature review of the domains of curriculum development, EC/EB program development and management, EC/EB component models and new service product development. Part 2 : Understanding the marketplace – quantitative analysis. This section comprises five major surveys which provide an understanding of EC/EB education. Part 3 : In-depth analysis – qualitative research for theory testing. This section discusses the results of the multiple case studies of EC/EB degree programs undertaken over a five year period. The results of this project highlight both theoretical and practical aspects of the topic. In terms of the theoretical aspect, I provide a contribution to existing theory concerning the planning and development of new tertiary education programs. Research into academic course development in the past has tended to assume that all program development is pedagogically based and influenced. There is an assumption that people only develop academic programs and academic courses for pedagogic reasons. What this research project has done is to suggest that there are, in fact, many possible reasons for developing new programs and that, although these reasons might be pedagogic in nature, they can also be industry-focased, and market-oriented in the following ways: -the university is shaping the way it is perceived by the public – that is, the market; -the university is highlighting where its expertise lies. This led me to a form of new service product development consistent with the new image of the university. There is a clear need for diverse models for program development which accommodate the dynamic roles of modern universities. My research project develops such a model based on conditions in the Asia-Pacific region, and discusses findings arising from the overall project, which can be used to improve new educational program offerings in future, in both the Asia-Pacific and, I suggest, in other regions. This potential use of my findings highlights the practical contribution made by the research Project.

Use and cost effectiveness of computer based training in the insurance industry

Training is essential to the growth and economic well-being of a nation. This need for training pervades all levels of industry, from a national level where a country’s well being is enhanced by training, to each company where productivity is improved, down to the individual whose skills are enhanced and as a result improve their position in the employment marketplace. The Australian Bureau of Statistics report ‘Training and Education Experience –Australia’ (ABS 1993) indicates that training in Australia is undertaken at a significant level with some 86% of employers undertaking some form of training. This is slightly higher in the Finance industry at a little over 89%. On the job training is undertaken by 82% of employers and off the job training is used by 47% of employers. In 80% of the off the job cases these courses were conducted in a conventional manner using an instructor. The remaining 20% of cases were either self paced (14%) or instructor based (6%). These latter cases could involve Computer Based Training (CBT). The report, referred to in the last paragraph, also indicates that a significant aspect of business in Australia is that 95% of businesses have less than 20 staff. This poses significant problems in that the ability to deliver effective training is limited. With businesses as small as these their size does not permit them to carry specialist training personnel so this role falls to the senior staff. These people already have a full workload and their ability to be able to take on training duties is limited. In addition these people were employed for their technical skills, not training. It may be that their ability to fill the role of a trainer is not good and as a result the training may not be very effective. In addition, small business has difficulty in releasing staff for training, The difficulties faced by small business were recognised by the Australian National Training Authority in their 1995 report which indicated that there was a need to develop a ‘training culture’ among small business employers. The authority made a commitment to provide flexible delivery strategies. This includes Computer Based Training (CBT). CBT has existed since the 1970’s. It came on to the scene with a flourish and tended to provide ‘page turning’ programs or ‘drill and practice programs’. In limited areas this form of training became popular but its popularity waned in the 80’s. With the advent of better graphical displays, larger and faster memory, and improved programs in the 1990’s the quality of CBT today is superior to those offered in the 70’s and has greater appeal. Today, still photographs and video clips can be displayed and made interactive. Because of this CBT is making a comeback and starting to have a greater impact. The insurance industry covers a wide range of companies in Australia, these companies vary in size from companies with employees in the thousands to companies with less than five staff. While the needs of the employees of each are similar the ability of these companies to deliver the training varies significantly. Any training can be divided into two parts. Internal or on the job training and external. External training deals with those aspects that concern the industry as a whole whereas internal training affects the individual company. Internal training would deal with matters like company procedures, company products and the like. External training deals with matters such as legislation, products generally, and the like. In the insurance industry the major problem arises with the small companies. Insurance companies would tend to be large in size and able to cover their training costs but the insurance brokers who would make up, numerically, the major number of companies would have a significant number of companies that fall into the 20 staffer less category. In fact many would have a staff of less than 5. While CBT can benefit all companies it is these small companies that could benefit from it the most. This thesis examines: • The place of CBT in training, its cost and effectiveness. • The incidence of CBT in the insurance industry and how the industry determines its effectiveness. • If a program that meets an industry need is able to be produced at a realistic price?

Alternative naming strategies : family versus individual brand names

Increased competition in the consumer goods marketplace has resulted in too many brands chasing too few consumers. In an attempt to ease pressure on margins, and both brand and product range profitability, marketers would be well advised to reinspect their policies towards brand naming and the attendant costs associated with those policies. Is it really necessary for each new product to be individually named? If it is, then what are the strategic and financial implications of this decision? Why is it that the practice in some companies is to resort to a string of unrelated brand names whereas the practice elsewhere is to use an umbrella family name, with or without, a brand name as a suffix? The answers to such questions are by no means obvious and closer inspection of the issues relating to naming policy fails to yield any consensus let alone a definitive approach. This article seeks to depict the alternative naming strategies engaged by marketers and to focus on those considerations that would favour a family name in preference to an individualised brand name. The article concludes with recommendations that are drawn from current literature and the experience of marketers with a view to determining those circumstances that may influence the formulation of a more appropriate naming policy.

Cross-sector social partnerships, leading by example : a case study of reading for life

Some exceptional social integrative alliances can go unrecognised amid the swell of high profile initiatives. This may be dependent upon the propensity of the partnering organisations to seize publicity opportunities or public sensitivity towards an issue. This paper focuses on one such exemplar of best practice of social investment in Australia.

A joint initiative between a major manufacturing organisation (Unilever Australasia) and a social nonprofit organisation (Learning Links) has led to the creation of the Reading for Life program. This initiative aims to advance the literacy levels of children in the formative years of education. The examination of this case provides a broader picture of the Australian alliance marketplace and the effects this one successful relationship has had on encouraging further  partners, additional programs and promoting best practice.

The research aimed to uncover the objectives of each partner along with the management processes used, outcomes (both perceived and actual) and future direction. In-depth interviews were conducted across different levels of the organisational structure of each partner in multiple locations within Australia.

Preliminary findings provided an insight into alliance formation and the overwhelming importance of social investment as a core motive. Twelve core factors were identified as contributing to the successful implementation of this relationship. In particular, regular reporting of successful outcomes was an important implementation factor, not only in driving the relationship to new levels, but also in the recruitment of further investment partners.

This case demonstrates that multiple positive outcomes can be gained from cross-sector collaboration. Unilever Australasia has successfully developed a positive corporate culture amongst its employees and will leave a legacy of social investment. Learning Links, with the help of a private sector partnership, has increased its operational capacity and is now established as a trans-national nonprofit organisation. Together they have made a noteworthy contribution to
the improvement of literacy in hundreds of children’s lives and fundamentally paved the way for demonstrating that social investment can be considered a good business outcome.

This case is being used to inform theory on cross-sector collaboration and build on the findings of Austin (2000) in relation to the alliance marketplace and factors inherent in integrative alliances.

Television journalism : the cultural politics of contemporary current affairs interviewing

This thesis examined television current affairs interviewing to determine the influence of the cultural politics of Australian commercial and non-commercial networks. Marketplace pressures to rate highly was the major influence on commercial programs resulting in the use of shorter dramatic interviews, more celebrities, fewer politicians, hidden cameras and ambush interviews.

Visions, illusions and facts : a reflection on the partnerships between academic libraries and vendors in the new information landscape

Is the industry in chaos? How do we to meet the future information needs of the international scholarly community?

The one certainty is that forecasting is never easy. Libraries, vendors and publishers are all working in a rapidly changing environment. It is a fair prediction that there will be fewer participants and less competition in the marketplace. The potential for libraries to be locked into one vendor for access to electronic journals is real. Whether this access will be in perpetuity, no one can give an absolute guarantee. Intellectual property rights, commercial viability and communication standards are all of concern.

We've seen the vision, what's happening now? The Australian academic and research library market has an international reputation for being informed, frank and through necessity, pragmatic. When planning information access and delivery for the next two to five years we are told libraries need a reasonable indication of what is real. Vendors, more than ever, are contributing to a shared understanding amongst libraries, publishers and vendors of the priorities and concerns of different sectors of the industry.

Investigating relationships of construction prices in Australia using cointegration analysis

Research on construction prices is significant for contractors and traders. A comprehensive understanding of construction prices may influence crucial decisions in business operation and arbitrage activities. This study focuses on the cointegration relationships of regional construction prices in Australia by using a range of econometric techniques including the stationarity test, the Engle-Granger cointegration approach examines the long run equilibrium relationships within the regional markets, and the error correction models explore the short run disequilibrium relationships. Finds of this study reveal that the economic system in which the construction industry participants operate is characterized by a highly competitive, integrated marketplace, Especially in Melbourne and Sydney. But exclude Northern Territory and Queensland. Furthermore, the results of long term relationships estimation suggest that there are 15 pairs of regional construction prices have long term equilibrium relationships. Additionally, the causalities and diffusion among the construction price indices in six states and two territories of Australia are estimated in this study. These outcomes suggest that causal links between regions mainly exist among adjoining states.

An economic analysis of construction industries producer prices in Australia

Research on construction prices is significant for contractors and traders. A comprehensive understanding of construction prices may influence crucial decisions in business operation and arbitrage activities. This study focuses on the cointegration relationships of regional construction prices in Australia by using a range of econometric techniques including the stationarity test, the Engle-Granger cointegration approach and error correction model. The cointegration relationships amongst the regional construction prices are detected in this study. The application of the Engle-Granger cointegration approach examines the long run equilibrium relationships within the regional markets, and the error correction models explore the short run disequilibrium relationships. Results of this study suggest that the economic system in which construction industry participants operate is characterised by a highly competitive integrated marketplace. Furthermore, the causalities and diffusion patterns among the construction price indices in six states and two territories of Australia are drawn by the cointegration analysis. These outcomes reveal a pattern of diffusion paths and network linkages among the six states and two territories, and then expose the regional price linkages.