Managing growth and entry strategies across borders

Should the firm move successfully into a growth or expansion phase the owner manager will be required to increase the scale and scope of its operations. Part of this expansion will involve hiring additional employees, and increasing the overall complexity of the firm's activities. It is likely that the need for greater levels of professional management will be required to operate the firm, along with the need for enhanced planning and the introduction of systems to support the new levels of complexity. The transition from a small, owner-managed firm to a large systems-managed business will require the development of a team-based management approach with greater specialisation within the management team. Corporate governance is also likely to change as the growth cycle takes place. As it grows, the business will become more formalised in its accounting, management and other systems. The need for greater quantities of capital is likely to lead the business towards equity finance. As new equity partner are taken into the company the original owner managers may find their level of control diminished. The larger the firm becomes the more likely its management structure will become decentralised with greater separation between the owner and the firm in terms of operational and financial matters.

Making optimal and justifiable asset maintenance decisions

Maintenance decisions for large-scale asset systems are often beyond an asset manager's capacity to handle. The presence of a number of possibly conflicting decision criteria, the large number of possible maintenance policies, and the reality of budget constraints often produce complex problems, where the underlying trade-offs are not apparent to the asset manager. This paper presents the decision support tool "JOB" (Justification and Optimisation of Budgets), which has been designed to help asset managers of large systems assess, select, interpret and optimise the effects of their maintenance policies in the presence of limited budgets. This decision support capability is realized through an efficient, scalable backtracking- based algorithm for the optimisation of maintenance policies, while enabling the user to view a number of solutions near this optimum and explore tradeoffs with other decision criteria. To assist the asset manager in selecting between various policies, JOB also provides the capability of Multiple Criteria Decision Making. In this paper, the JOB tool is presented and its applicability for the maintenance of a complex power plant system.

Family tree

Artist's Statement: These suspended shipping floats symbolise the artist's grandfather's home on Keriri (Hammond Island), where the trees are decorated with floats of all colours that have washed up on the beach. Across the entire Torres Strait, these floats, often from Asia, wash ashore and become decorative objects, strung from trees and hung from island shacks. Their vivid colours, and sometimes reflective glass surfaces, play against the lush tropical setting, while their re-use reflects the innovative character of island life. This arrangement of the floats represents the artist's family tree, which he has traced back six generations to Mer (Murray Island) and Keriri. The strings of orange floats represent his immediate family and direct lineage, each member of which is named on a float, with the totem of the family painted on the base. The remaining floats trace additional ancestry and spread further back through time and space, spanning the Torres Strait from west to east.

Jugglers Arts Space Containers

The design and installation for the Jugglers Arts Space Containers was an invited commission by Jugglers Arts Space for the Containveral Festival at Northshore Hamilton (EDQ). The community festival involved a suite of custom designed and fitted shipping containers for the use by retailers and arts groups alike, focusing upon re-use and low cost design fabrication approaches. Containerval, inspired from shipping container projects such as Sean Goodsell's 'Future Shack' (1985-2001)and Buchan Group's Re:Start Mall, Christchurch (2011), celebrated design testing and exploration of found and recyclable materials to plan and enrich an otherwise severe hardstand area formally attached to Portside docks. The design proposed use of 4 containers, planned to focus on both the interior displays and external in-between spaces, for live performance of Jugglers Arts Space artists. Experimentation of recyclable materials such as onion bags and plastic milk bottles, informed the development of innovative low-cost canopies which sutured the containers together. The Containerval Festival contributed to the now highly successful 'Eat Street Markets' at Hamilton Northshore.

Integrating ‘role play’ in assessment to strengthen professional conduct and accountability of students : a pilot study

BACKGROUND In a process engineering setting, graduates are frequently allocated reviews of existing operations or required to scope new production processes by their supervisors with a view to improving or expanding on operations and overall productivity. These tasks may be carried out in teams and in consultation with the process engineer’s immediate line manager or a more experienced engineer, such as the Production or Maintenance Manager; ultimately reporting to senior management, which is frequently a non-engineer. Although professional skills development is part of engineering curricula, ‘professional conduct’ and ‘accountability’ required for dealing with peers and superiors in industry is not very well addressed at university. Consequently, upon graduation, many students are, in terms of knowledge and experience in this area, underprepared to work effectively in industry settings. PURPOSE The purpose of this study was to develop and implement a role-play scenario within a core 2nd year process engineering unit, so that students could gain knowledge, skills and experience in different aspects (and nuances) of professional conduct and accountability. DESIGN/METHOD In the role-play scenario, students worked in ‘engineering production teams’ to design a process for an iconic Queensland fruitcake and to present their solution and recommendations (culminating in a poster presentation) to an assessment panel consisting of staff, role-playing as, ‘production and plant managers’. Students were assessed on several areas, including professionalism using a criteria referenced assessment guide by a 3-member cross-disciplinary staff panel consisting of a Business Faculty lecturer, an engineer from industry and the lecturer of the Process Engineering unit. Professional conduct and accountability was gauged through direct questioning by the panel. Feedback was also sought from students on various aspects through a survey questionnaire after the role play activity at the end of semester. RESULTS Overall, the role play was very well performed with students achieving an average score of 79.3/100 (distinction grade). Professional conduct as assessed by panel was on average better than scores given for professional accountability (4.0 compared with 3.6 out of 5). Feedback from students indicated that the learning activities had contributed to their overall understanding of the content and the role of process engineers. Industry involvement was rated very highly as contributing to their learning at 4.8 (on Likert scale from 1 – 5) and the poster presentation was rated at 3.6. CONCLUSIONS This pilot study was successful in implementing a new assessment task for modelling professional conduct and accountability within a 2nd year core unit. This task incorporated a role-play activity and there was evidence to suggest that this and associated learning tasks were successful in broadening students’ understanding and skills in this area required for engineering practice. Following feedback given by students and staff, improvements will be made to the nature of the problem, how it is defined, its assessment, and the approach taken in the role-play scenario when the unit is offered in 2014.

A framework for people capability enhancement to support sustainable facility management practices

Spanning over a considerable length of time, facility management is a key phase in the development cycle of built assets. Therefore facility managers are in a commanding position to maximise the potential of sustainability through the operation, maintenance and upgrade of built facilities leading to decommission and deconstruction. Sustainability endeavours in facility management practices will not only contribute to reducing energy consumption, waste and running costs, but also help improve organisational productivity, financial returns and community standing of the organisation. At the forefront facing sustainability challenge, facility manager should be empowered with the necessary knowledge and capabilities. However, literature studies show a gap between the current level of awareness and the specific knowledge and necessary skills required to pursue sustainability in the profession. People capability is considered as the key enabler in managing the sustainability agenda as well as being central to the improvement of competency and innovation in an organization. This paper aims to identify the critical factors for enhancing people capabilities in promoting the sustainability agenda in facility management practices. Starting with a total of 60 factors identified through literature review, the authors conducted a questionnaire survey to assess the perceived importance of these factors. The findings reveal 23 critical factors as significantly important. They form the basis of a mechanism framework developed to equip facility managers with the right knowledge, to continue education and training and to develop new mind-sets to enhance the implementation of sustainability measures in FM practices.

Temporal trends and bioavailability assessment of heavy metals in the sediments of Deception Bay, Queensland, Australia

Thirteen sites in Deception Bay, Queensland, Australia were sampled three times over a period of 7 months and assessed for contamination by a range of heavy metals, primarily As, Cd, Cr, Cu, Pb and Hg. Fraction analysis, enrichment factors and Principal Components Analysis-Absolute Principal Component Scores (PCA-APCS) analysis were conducted in order to identify the potential bioavailability of these elements of concern and their sources. Hg and Te were identified as the elements of highest enrichment in Deception Bay while marine sediments, shipping and antifouling agents were identified as the sources of the Weak acid Extractable Metals (WE-M), with antifouling agents showing long residence time for mercury contamination. This has significant implications for the future of monitoring and regulation of heavy metal contamination within Deception Bay.

The effectiveness of psychosocial interventions for cognitive dysfunction in cancer patients who have received chemotherapy : a systematic review

Background: Chemotherapy-related cognitive dysfunction (CRCD) refers to problems with memory,attention span, or concentration, experienced by patients with cancer who have had chemotherapy. CRCD can have a significant negative effect on a patient’s quality of life. The exact cause of CRCD is unknown but is presumed to be multifactorial. Objective: To conduct a systematic review of the effectiveness of psychosocial interventions designed to treat CRCD. Methods: Participants of interest to the review were over 18 years of age, diagnosed with cancer, and receiving chemotherapy or had received chemotherapy in the past. Interventions of interest were methods to improve cognitive function. Included study designs were randomized controlled trials, quasi-experimental trials, and quantitative observational studies. The primary outcome of interest was level of cognitive function. A three-step search strategy was utilized to identify studies published from 1985 to 2011 from a wide range of databases. Joanna Briggs Institute systematic review methods were used but findings were analyzed using the Cochrane Collaboration Review Manager 5.1 program.Weightedmean differences with 95% confidence intervals were calculated from the continuous data. Results: Searching identified 3,109 potentially relevant articles and 120 full-text articles were retrieved. Two further papers were sourced from reference lists of retrieved articles. From 122 papers, six were suitable for critical appraisal and six were included in the analysis. Meta-analysis was conducted on two cognitive behavioral therapy (CBT) trials for the outcome of inability to concentrate. Significant effect was seen for one CBT intervention at 20 weeks (p = .004). Significant effect from CBT on quality of life was seen at 6-month follow-up (p < .05). Conclusions: Despite some evidence of an effect, there is insufficient evidence at this stage to strongly recommend any of the interventions to assist in decreasing the effects of CRCD, except in terms of improving quality of life.

Rethinking board composition: Balancing competence and compatibility in director selection

Board composition is critical to board effectiveness. Shaping an effective board begins with the selection of directors. While much attention has been paid to the skills and qualifications directors require, there has been less focus on the necessity for board members to interact and work well together. This exploratory study offers insights into what qualities directors look for when selecting new members and the approach adopted to identify and select them. The findings of 10 in-depth interviews with Australian directors suggest new members are selected both on competencies and compatibility. Yet not all selection approaches adequately assess candidates for these two criteria. As a result many appointments fail to realise the selection criteria reducing capacity to reach its full potential.

Weak acid extractable metals in Bramble Bay, Queensland, Australia : temporal behaviour, enrichment and source apportionment

Sediment samples were taken from six sampling sites in Bramble Bay, Queensland, Australia between February and November in 2012. They were analysed for a range of heavy metals including Al, Fe, Mn, Ti, Ce, Th, U, V, Cr, Co, Ni, Cu, Zn, As, Cd, Sb, Te, Hg, Tl and Pb. Fraction analysis, enrichment factors and Principal Component Analysis –Absolute Principal Component Scores (PCA-APCS) were carried out in order to assess metal pollution, potential bioavailability and source apportionment. Cr and Ni exceeded the Australian Interim Sediment Quality Guidelines at some sampling sites, while Hg was found to be the most enriched metal. Fraction analysis identified increased weak acid soluble Hg and Cd during the sampling period. Source apportionment via PCA-APCS found four sources of metals pollution, namely, marine sediments, shipping, antifouling coatings and a mixed source. These sources need to be considered in any metal pollution control measure within Bramble Bay.

Australian stock indexes and the four-factor model

Stock indexes are passive 'value-weighted' portfolios and should not have alphas which are significantly different from zero. If an index produces an insignificant alphan, then significant alphas for equity funds using this index can be attributed solely to manager performance. However, recent literature sugests that US Stock indexes can demonstrate significant alphas, which ultimately raise questions regarding equity fund manager performance in both the US and abroad. in this paper, we employ the Carhart four-factor model and newly available Asian-Pacific risk factors to generate alphas and risk factor loadings for eight Australian stock indexes from January 2004 to December 2012. We ifnd that the initial full sample period analysis does not provide indication of significant alphas in the indexes examined. However, by carrying out 36-month rolling regressions, we discover at least four significant alphas in seven of the eight indexes and factor loading variability. As previously reported in the US, this paper confirms similar issues with the four-factor model using Australian stock indexes and performance benchmarking. In effectively measuring Australian equity fund manager performance, it is therefore essential to evaluate a fund's alpha and risk factors relative to the alpha and risk factors of the appropriate benchmark index.

The Fleet Store : devising a public retail exhibition to promote creative, innovative and sustainable business models for emerging fashion designers

1.Description of the Work The Fleet Store was devised as a creative output to establish an exhibition linked to a fashion business model where emerging designers were encouraged to research new and innovative strategies for creating design-driven and commercial collections for a public consumer. This was a project that was devised to break down the perceptions of emerging fashion designers that designing commercial collections linked to a sustainable business model is a boring and unnecessary process. The focus was to demystify the business of fashion and to link its importance to a design-driven and public outcome that is more familiar to fashion designers. The criterion for participation was that all designers had to be registered as a business with the Australian Taxation Office. Designers were chosen from the Creative Enterprise Australia Fashion Business Incubator, the QUT fashion graduate alumni and current QUT fashion design and double degree (fashion and business) students with existing businesses. The project evolved from a series of collaborative workshops where designers were introduced to new and innovative creative industries’ business models and the processes, costings and timings involved to create a niche, sustainable business for a public exhibition of design-driven commercial collections. All designers initiated their own business infra-structure but were then introduced to the concept of collaboration for successful and profitable exhibition and business outcomes. Collaborative strategies such as crowd funding, crowd sourcing, peer to peer mentoring and manufacturing were all researched, and strategies for the establishment of the retail exhibition were all devised in a collaborative environment. All participants also took on roles outside their ‘designer’ background to create a retail exhibition that was creative but also had critical mass and aesthetic for the consumer. The Fleet Store ‘popped up’ for 2 weeks (10 days), in a heritage-listed building in an inner city location. Passers-by were important, but the main consumer was enlisted by the use of interest and investment from crowd sourcing, crowd funding, ethical marketing, corporate social responsibility projects and collaborative public relations and social media strategies. The research has furthered discussion on innovative strategies for emerging fashion designers to initiate and maintain sustainable businesses and suggests that collaboration combined with a design-driven and business focus can create a sustainable and economically viable retail exhibition. 2. Research Statement Research Background The research field involved developing a new ethical, design-driven, collaborative and sustainable model for fashion design practice and management. The research asked can a public, design-driven, collaborative retail exhibition create a platform for promoting creative, innovative and sustainable business models for emerging fashion designers. The methodology was primarily practice-led as all participants were designers in their own right and the project manager acted as a mentor and curator to guide the process and analyse the potential of the research question. The Fleet Store offers new knowledge in design practice and management; with the creation of a model where design outcomes and business models are inextricably linked to the success of the creative output. Key innovations include extending the commercialisation of emerging fashion businesses by creating a curated retail gallery for collaborative and sustainable strategies to support niche fashion designer labels. This has contributed to a broader conversation on how to nurture and sustain competitive Australian fashion designers/labels. Research Contribution and Significance The Fleet Store has contributed to a growing body of research into innovative and sustainable business models for niche fashion and creative industries’ practitioners. All participants have maintained their business infra-structure and many are currently growing their businesses, using the strategies tested for the Fleet Store. The exhibition space was visited by over 1,000 people and sales of $27,000 were made in 10 days of opening. (Follow up sales of $3,000 has also been reported.) Three of the designers were ‘discovered’ from the exhibition and have received substantial orders from high profile national buyers and retailers for next season delivery. Several participants have since collaborated to create other pop up retail environments and are now mentoring other emerging designers on the significance of a collaborative retail exhibition to consolidate niche business models for emerging fashion designers.

The performance of diversified emerging market equity funds

We investigate the performance of globally diversified emerging market equity funds during the first decade of the twenty-first century. A vast majority of these funds do not outperform the market benchmark even before transaction costs. The systematic risk of most of the funds is similar to that of the market benchmark portfolio, which may suggest that they aim to offer diversification benefits rather than seeking superior risk-adjusted returns through active management. We do not find any evidence of market timing ability amongst these funds. Finally, whilst we detect persistence in performance, this result is driven mainly by the poorly performing funds.

Managing moose harvests by the seat of your pants

Moose populations are managed for sustainable yield balanced against costs caused by damage to forestry or agriculture and collisions with vehicles. Optimal harvests can be calculated based on a structured population model driven by data on abundance and the composition of bulls, cows, and calves obtained by aerial-survey monitoring during winter. Quotas are established by the respective government agency and licenses are issued to hunters to harvest an animal of specified age or sex during the following autumn. Because the cost of aerial monitoring is high, we use a Management Strategy Evaluation to evaluate the costs and benefits of periodic aerial surveys in the context of moose management. Our on-the-fly "seat of your pants" alternative to independent monitoring is management based solely on the kill of moose by hunters, which is usually sufficient to alert the manager to declines in moose abundance that warrant adjustments to harvest strategies. Harvests are relatively cheap to monitor; therefore, data can be obtained each year facilitating annual adjustments to quotas. Other sources of "cheap" monitoring data such as records of the number of moose seen by hunters while hunting also might be obtained, and may provide further useful insight into population abundance, structure and health. Because conservation dollars are usually limited, the high cost of aerial surveys is difficult to justify when alternative methods exist. © 2012 Elsevier Inc.

Rallying the troops or beating the horses? How project-related demands can lead to either high performance or abusive supervision

In today's high-pressure work environment, project managers are often forced to “do more with less.” We argue that this imperative can lead project managers to engage in either high-performance or abusive supervision behaviors. To understand this process, we develop a model and associated propositions linking a project manager's cognitive appraisal of project-related demands to high-performance work practices versus abusive supervision behaviors—both of which impact three project outcomes: stakeholder relationships, people-related project success factors, and employee well-being. We propose that the choice between high-performance work practices and abusive supervision behaviors is moderated by a project manager's personal resources (psychological capital, emotional intelligence, and dark triad personality).