Towards an integrative framework for future research on small firm growth

Our review has demonstrated that small firm growth is a complex phenomenon. The concept ‘growth’ denotes both a change in amount and the process by which that change is attained. Further, the growth can be achieved in different ways and with varying degrees of regularity, and it manifests itself along several different dimensions such as sales, employment, and accumulation of assets. This complexity has naturally led researchers to adopt different approaches to studying growth and to use different measures to assess it. Further, although our review shows that it can fruitfully be regarded as a growth issue, the research on small firms' internationalization has largely developed as a separate stream. Similarly, other relatively separate literatures have evolved, which effectively focus on different modes of growth although mostly without regarding the studies first and foremost as growth studies. This goes for topics such as mergers and acquisitions, diversification, and integration - research streams which have largely ignored the particularities of small firms and which in turn have been largely ignored among researchers focusing on small firm growth.

Escalation of conflict in large private family businesses

This study investigates escalation of intra-familial conflicts in family top management teams. Using a Critical Incident Technique approach, this study uses interviews to collect data from 23 family and non-family individuals and groups within six large-scale privately-held family businesses in Indonesia. The study develops a theoretical model to explain why family business conflicts escalate and become destructive. An inductive content analysis found that the use of a dominating strategy by both parties in dealing with conflict, the expression of negative emotions, and the involvement of non-family employees are more likely to cause escalation. This study contributes to the theory of family business conflict to help family business more satisfying and productive.

Port of Bundaberg Futures

This exhibition showcases the work of Postgraduate Landscape Architecture and final year Undergraduate Civil and Environmental Engineering students in response to issues of sustainability in the Port of Bundaberg. The Port of Bundaberg project site, just north of Bargara, is a complex mix of port facilities, urban development, coastal conservation and agriculture. The project brief was to prepare a range of strategic planning and environmental management options for future urban and infrastructure development in the Port area. Postgraduate Landscape Architecture and final year Undergraduate Civil and Environmental Engineering students worked over one teaching semester with guidance from QUT academics and partner organisations to produce strategic planning, environmental management planning and design options for managing future growth in the area. Specifically, these make recommendations regarding: • Interface between Port lands and residential settlement; • Future residential/urban development; • Transport accessibility and mobility – road, rail, tramway and maritime for personal and freight movement; • Local and regional connectivity - both physical and perceptual- between urban settlements of Port of Bundaberg – Burnett Heads and the surrounding area; • Recreational and tourism development; • Public/private space mix and access; • Ecological conservation assets; • Natural and cultural heritage assets The project process involved three visits to the site by QUT students and staff. The first visit at the project’s commencement included a formal briefing session with project partners the Burnett Mary Regional Group, Port of Brisbane Corporation, and Queensland Department of Local Government and Planning. Formal and informal community engagement facilitated by the Burnett Heads Progress Association also allowed students to gain some understanding of local values. A second visit mid-project involved a ‘Futures Workshop’ with students and community. This enabled the students to gain the benefit of local knowledge and experience in response to their work-in-progress, and to establish priorities for project completion. It strengthened the relationship between the community and the students. A final exhibition, ‘Port of Bundaberg Futures' was held at the Port TAFE Campus upon the completion of the project. The student work exhibited offers a diverse number of alternative options for the future urban development, infrastructure and environmental planning that the partner organisations have used for ongoing consultation.

Knowledge management practices in construction : Evidence from Hong Kong

The acquisition and management of knowledge is the dominant source of organisational com-petitive advantage. As innovation processes in the management and procurement of construc-tion activities are becoming increasingly interactive, knowledge management (KM) has been widely recognised by construction organisations as an essential tool to be employed when dealing with growing complexity and cost of projects as well as increasing client demands. KM requires deliberate efforts by an organisation to maximise its performance through the acquisition, dissemination and leveraging of the organisation’s intellectual assets. The Hong Kong (HK) construction market has been described as one of the most open and globally competitive. This paper reports on KM practices within the HK construction industry, and through the analysis of a self-administered questionnaire survey, reveals managers’ opinions of the formal and informal KM practices that could be used to manage the flow of knowledge, and identifies the level of implementation within their organisations. The differences between managers’ perception and the actual state of implementation – as reported by the same man-agers – are statistically examined. The analysis leads to better understanding of how HK con-struction professionals currently manage organisational knowledge, and what areas for poten-tial improvement exist.

Conceptual model linking knowledge management with organisational performance

Better management of knowledge assets has the potential to improve business processes and increase productivity. This fact has led to considerable interest in recent years in the knowledge management (KM) phenomenon, and in the main dimensions that can impact on its application in construction. However, a lack of a systematic way of assessing KM initia-tives’ contribution towards achieving organisational business objectives is evident. This paper describes the first stage of a research project intended to develop, and empirically test, a KM input-process-output framework comprising unique and well-defined theoretical constructs representing the KM process and its internal and external determinants in the context of con-struction. The paper presents the underlying principles used in operationally defining each construct through the use of extant KM literature. The KM process itself is explicitly mod-elled via a number of clearly articulated phases that ultimately lead to knowledge utilisation and capitalisation, which in turn adds value or otherwise to meeting defined business objec-tives. The main objective of the model is to reduce the impact of subjectivity in assessing the contribution made by KM practices and initiatives toward achieving performance improvements.

People capabilities for promoting sustainability in facilities management practices

Sustainability needs to be embedded throughout the life-cycle of a construction project. From project conception, planning, design, construction stage, operation and maintenance to demolition, each phase of development should embrace principles of sustainability and the stakeholder involved should be empowered with the necessary skills. Past research explored the importance of ensuring sustainability measures during the occupancy phase based on considerations of Life-Cycle Cost Analysis and a project’s long-term detrimental impact on the environment. Facility managers are in a unique position to promote sustainability over longer periods of project engagement and can apply a high level of influence on the built assets through management and upgrades. There is growing interest among facility managers in incorporating sustainability measures into day-to-day practice. More, however, needs to be done. Previous studies have identified barriers such as the lack of sustainability knowledge and skills, poor access to information, and unwillingness to change among facility management (FM) practitioners and stakeholders. This inhibits proper implementation of sustainable practices in the FM sector. A number of key factors, such as knowledge discrepancy, time constraints, diversity of FM functions and a lack of incentives, require urgent remedy. The capability of FM professionals and stakeholders will be a key enabler in managing the sustainability agenda, as it is central to the improvement of competency and innovation in an organization. Compared to the attempts at developing sustainability guidelines and performance measurement, research efforts relating to people capabilities and skills are still lagging behind. This paper discusses the progress to date of a research project aimed at formulating a people capabilities framework for sustainable FM practices based on expert opinions and industry feedback. Through literature review, the paper explores the challenges of incorporating sustainability principles into general FM practices before focusing specifically on FM personnel capabilities that may impact on the implementation of a holistic sustainability agenda in real life practice. The results of an industry survey are used to propose an action framework to identify, promote and utilise people capabilities in order to promote sustainability integration in FM practices. The paper provides a useful information source for FM personnel and organizations to bridge the gap between extensive tools on sustainable design and construction assessment at the front end and the need to maintain focus throughout the project life-cycle.

Water Sensitive Urban Design (WSUD) application auditing

Background WSUD implementation in the Gold Coast City Council area commenced more than a decade ago. As a result, Council is expected to be in possession of WSUD assets valued at over tens of million dollars. The Gold Coast City Council is responsible for the maintenance and long-term management of these WSUD assets. Any shortcoming in implementation of best WSUD practices can potentially result in substantial liabilities and ineffective expenditure for the Council in addition to reduced efficiencies and outcomes. This highlights the importance of periodic auditing of WSUD implementation. Project scope The overall study entailed the following tasks: * A state-of-the-art literature review of the conceptual hydraulic and water quality treatment principles, current state of knowledge in relation to industry standards, best practice and identification of knowledge gaps in relation to maintenance and management practices and potential barriers to the implementation of WSUD. * Council stakeholder interviews to understand current practical issues in relation to the implementation of WSUD and the process of WSUD application from development application approval to asset management. * Field auditing of selected WSUD systems for condition assessment and identification of possible strengths and weaknesses in implementation. * Review of the Land Development Guidelines in order to identify any gaps and to propose recommendations for improvement. Conclusions Given below is a consolidated summary of the findings of the study undertaken. State-of-the-art literature review Though the conceptual framework for WSUD implementation is well established, the underlying theoretical knowledge underpinning the treatment processes and maintenance regimes and life cycle costing are still not well understood. Essentially, these are the recurring themes in the literature, namely, the inadequate understanding of treatment processes and lack of guidance to ensure specificity of maintenance regimes and life cycle costing of WSUDs. The fundamental barriers to successful WSUD implementation are: * Lack of knowledge transfer – This essentially relates to the lack of appropriate dissemination of research outcomes and the common absence of protocols for knowledge transfer within the same organisation. * Cultural barriers – These relate to social and institutional factors, including institutional inertia and the lack of clear understanding of the benefits. * Fragmented responsibilities – This results from poor administrative integration within local councils in relation to WSUDs. * Technical barriers – These relate to lack of knowledge on operational and maintenance practices which is compounded by model limitations and the lack of long-term quantitative performance evaluation data. * Lack of engineering standards – Despite the availability of numerous guidelines which are non-enforceable and can sometimes be confusing, there is a need for stringent engineering standards. The knowledge gaps in relation to WSUDs are only closing very slowly. Some of the common knowledge gaps identified in recent publications have been recognised almost a decade ago. The key knowledge gaps identified in the published literature are: * lack of knowledge on operational and maintenance practices; * lack of reliable methodology for identifying life cycle issues including costs; * lack of technical knowledge on system performance; * lack of guidance on retrofitting in existing developments. Based on the review of barriers to WSUD implementation and current knowledge gaps, the following were identified as core areas for further investigation: * performance evaluation of WSUD devices to enhance model development and to assess their viability in the context of environmental, economic and social drivers; establishing realistic life cycle costs to strengthen maintenance and asset management practices; * development of guidelines specific to retrofitting in view of the unique challenges posed by existing urban precincts together with guidance to ensure site specificity; establishment of a process for knowledge translation for enhancing currently available best practice guidelines; * identification of drivers and overcoming of barriers in the areas of institutional fragmentation, knowledge gaps and awareness of WSUD practices. GCCC stakeholder interviews Fourteen staff members involved in WSUD systems management in the Gold Coast City Council, representing four Directorates were interviewed using a standard questionnaire. The primary issues identified by the stakeholders were: * standardisation of WSUD terminology; * clear protocols for safeguarding devices during the construction phase; * engagement of all council stakeholders in the WSUD process from the initial phase; * limitations in the Land Development Guidelines; * ensuring public safety through design; * system siting to avoid conflicts with environmental and public use of open space; * provision of adequate access for maintenance; * integration of social and ecosystem issues to ensure long-term viability of systems in relation to both, vandalism and visual recreation; * lack of performance monitoring and inadequacy of the maintenance budget; * lack of technical training for staff involved in WSUD design approvals and maintenance; incentives for developers for acting responsibly in stormwater management. Field auditing of WSUD systems A representative cross section of WSUD systems in the Gold Coast were audited in the field. The following strengths and weaknesses in WSUD implementation were noted: * The implementation of WSUD systems in the field is not consistent. * The concerns raised by the stakeholders during the interviews in relation to WSUD implementation was validated from the observations from the field auditing, particularly in relation to the following: * safeguarding of devices during the construction phase * public safety * accessibility for maintenance * lack of performance monitoring by Council to assess system performance * inadequate maintenance of existing systems to suit site specific requirements. * A treatment train approach is not being consistently adopted. * Most of the systems audited have satisfactorily catered for public safety. Accessibility for maintenance has been satisfactorily catered for in most of the systems that were audited. * Systems are being commissioned prior to construction activities being substantially completed. * The hydraulic design of most systems appears to be satisfactory. * The design intent of the systems is not always clear. Review of Land Development Guidelines The Land Development Guidelines (TDG) was extensively reviewed and the following primary issues were noted in relation to WSUD implementation: * the LDG appears to have been prepared primarily to provide guidance to developers. It is not clear to what extent the guidelines are applicable to Council staff involved in WSUD maintenance and management; * Section 13 is very voluminous and appears to be a compilation of a series of individual documents resulting in difficulties in locating specific information, a lack of integration and duplication of information; * the LDG has been developed with a primary focus on new urban precinct development and the retrofitting of systems in existing developments has not been specifically discussed; * WSUDs are discussed in two different sections in the LDG and it is not clear which section takes precedence as there are inconsistencies between the two sections; there is inconsistent terminology being used; * there is a need for consolidation of information provided in different sections in the LDG; * there are inconsistencies in the design criteria provided; * there is a need for regular updating of the LDG to ensure that the information provided encompasses the state-of-the-art; * there is limited guidance provided for the preparation of maintenance plans and life cycle costing to assist developers in asset handover and to assist Council staff in assessment. * Based on these observations, eleven recommendations have been provided which are discussed below. Additionally, the stakeholder provided the following specific comments during the interviews in relation to the LDG: * lack of flexibility to cover the different stages of the life cycle of the systems; * no differentiation in projects undertaken by developers and Council; * inadequate information with regards to safety issues such as maximum standing water depth, fencing and safety barriers and public access; * lack of detailed design criteria in relation to Crime Prevention through Environmental Design, safety, amenity, environment, surrounding uses and impacts on surroundings; * inadequate information regarding maintenance requirements specific to the assessment and compliance phases; * recommendations for plantings are based primarily on landscape requirements rather than pollutant uptake capability. Recommendations With regards to the Land Development Guidelines, the following specific recommendations are provided: 1. the relevant sections and their extent of applicability to Council should be clearly identified; 2. integration of the different subsections within Section 13 and re-formatting the document for easy reference; 3. the maintenance guidelines provided in Section 13 should be translated to a maintenance manual for guidance of Council staff; 4. should consider extending the Guidelines to specifically encompass retrofitting of WSUD systems to existing urban precincts; 5. Section 3 needs to be revised to be made consistent with Section 13, to ensure priority for WSUD practices in urban precincts and to move away from conventional stormwater drainage design such as kerb and channelling; 6. it would also be good to specify as to which Section takes predominance in relation to stormwater drainage. It is expected that Section 13 would take predominance over the other sections in the LDG; 7. terminology needs to be made consistent to avoid confusion among developers and Council staff. Water Sensitive Urban Design is the term commonly used in Australia for stormwater quality treatment, rather than Stormwater Quality Improvement Devices. This once again underlines the need for ensuring consistency between Section 3 and Section 13; 8. it would also be good if there is a glossary of commonly used terms in relation to WSUD for use by all stakeholders and which should also be reflected in the LDG; 9. consolidation of all WSUD information into one section should be considered together with appropriate indicators in other LDG Sections regarding the availability of WSUD information. Ensuring consistency in the information provided is implied; 10. Section 13 should be updated at regular intervals to ensure the incorporation of the latest in research outcomes and incorporating criteria and guidance based on the state-of-the-art knowledge. The updating could be undertaken, say, in five year cycles. This would help to overcome the current lack of knowledge transfer; 11. the Council should consider commissioning specialised studies to extend the current knowledge base in relation to WSUD maintenance and life cycle costing. Additionally, Recommendation 10 is also applicable in this instance. The following additional recommendations are made based on the state-of-the-art literature review, stakeholder interviews and field auditing of WSUD systems: 1. Performance monitoring of existing systems to assess improvements to water quality, identify modifications and enhancements to improve performance; 2. Appropriate and monitored maintenance during different phases of development of built assets over time is needed to investigate the most appropriate time/phase of development to commission the final WSUD asset. 3. Undertake focussed investigations in the areas of WSUD maintenance and asset management in order to establish more realistic life cycle costs of systems and maintenance schedules; 4. the engagement of all relevant Council stakeholders from the initial stage of concept planning through to asset handover, and ongoing monitoring. This close engagement of internal stakeholders will assist in building a greater understanding of responsibilities and contribute to overcoming constraints imposed by fragmented responsibilities; 5. the undertaking of a public education program to inform the community of the benefits and ecosystem functions of WSUD systems; 6. technical training to impart state-of-the-art knowledge to staff involved in the approval of designs and maintenance and management of WSUD projects; 7. during the construction phase, it is important to ensure that appropriate measures to safeguard WSUD devices are implemented; 8. risks associated with potential public access to open water zones should be minimised with the application of appropriate safety measures; 9. system siting should ensure that potential conflicts are avoided with respect to public and ecosystem needs; 10. integration of social and ecosystem issues to ensure long-term viability of systems; provide incentives to developers who are proactive and responsible in the area of stormwater management.

Social enterprises in rural community development

Social enterprises are hybrid organizational forms that combine characteristics of for-profit businesses and community sector organizations. This article explores how rural communities may use social enterprises to progress local development agendas across both economic and social domains. Drawing on qualitative case studies of three social enterprises in rural North West Tasmania, this article explores the role of social enterprises in local development processes. The case study social enterprises, despite differences in size, structure, mission and age, are strongly embedded in their local places and local communities. As deeply contextualized development actors, these social enterprises mobilize multiple resources and assets to achieve a range of local development outcomes, including but not limited to social capital

The value of books : the fantastic flying books of Mr. Morris Lessmore and the social hieroglyphic of reading

The late eighteenth century witnessed the emergence of new technologies of subjectivity and of the literary. Most obviously, “the novel as a literary form appeared to embody and turn into an object the experience of life itself” (Park), and the novel genre came to both reflect and shape notions of interiority and subjectivity. In this same period, “A shift was taking place in the way people felt and thought about children and the accoutrements of childhood, including books and toys, were implicated in this change” (Lewis). In seeking to understand the relationships between media (e.g. books and toys), genres (e.g. novels and picture books), and modes of subjectivity, Marx’s influential theory of commodity fetishism, whereby “a definite social relation between men, that assumes, in their eyes, the fantastic form of a relation between things”, has served as a productive tool of analysis. The extent to which Marx’s account of commodity fetishism continues to be of use becomes clear when the corollaries between the late eighteenth-century emergence of novels and pictures books as technologies of subjectivity and the early twenty-first century emergence of e-readers and digital texts as technologies of subjectivity are considered. This paper considers the literary technology of Apple’s iPad (first launched in 2010) as a commodity fetish, and the circulation of “apps” as texts made available by and offered as justifications for, this fetish object. The iPad is both book and toy, but is never “only” either; it is arguably a new technology of subjectivity which incorporates but also destabilises categories of reading and playing such as those made familiar by earlier technologies of literature and the self. The particular focus of this paper is on the multimodal versions (app, film, and picture book) of The Fantastic Flying Books of Mr. Morris Lessmore, which are understood here as a narrativisation of commodity fetishism, subjectivity, and the act of reading itself.

Challenging the female underperformance hypothesis

Purpose – The question of whether female-owned firms underperform male-owned firms has triggered much research and discussion. Klapper and Parker's review concluded that the majority of prior research suggests that female-owned firms underperform relative to male-owned firms. However, using performance measures that control for size and risk (and after controlling for demographic differences such as industry, experience and hours worked) Robb and Watson found no gender performance difference in their sample of newly established US firms. The aim of this study, therefore, is to replicate Robb and Watson's study to determine whether their findings can be generalized to another geographical location, Australia. Design/methodology/approach – The authors test the female underperformance hypothesis using data from the CAUSEE project, a panel study which follows young firms over four years. They use three outcome variables: survival rates, return on assets and the Sharpe ratio. Findings – Consistent with Robb and Watson the results indicate that female-owned firms do not underperform male-owned firms. Originality/value – While replication studies are rare in entrepreneurship, they are an important tool for accumulating generalizable knowledge. The results suggest that while female-owned firms differ from male-owned firms in terms of many control variables (such as industry, owners' previous experience and hours worked) they are no less successful. This outcome should help dispel the female underperformance myth; which if left unchallenged could result in inappropriate policy decisions and, more importantly, could discourage women from establishing new ventures.

Action for change? Embedding Aboriginal and Torres Strait Islander perspectives in early childhood education curricula

This thesis focuses on non-Indigenous educators’ work around embedding Indigenous perspectives in early childhood education curricula. In place of reporting examples of ‘good’ educational practice, the study questions how whiteness and racism continue to operate in diversity work that is seen to be productive and inclusive. The thesis argues for a more comprehensive framework for embedding Indigenous perspectives in before-school contexts to support educators’ efforts. New strategies for professional development are also suggested to support changes in disciplinary knowledge and pedagogy.

The use of 'queer' in criminal justice discourses

Within criminological literature, there are growing references to a 'queer/ed criminology'. To date, ‘queer criminology’ remains a loose collection of studies and criminal-justice related commentary that uses the term 'queer'. Amid the growing calls for the more substantial development of these criminological studies, it is timely to reflect on the ways that the term ‘queer’ has been used in these discourses, to what ends, and with what effects. This paper considers the manner in which the term 'queer' has been used in these criminological and criminal justice discourses. It suggests that ‘queer’ has been used in two dominant ways: as an 'umbrella' term for lesbian, gay, bisexual, intersex, and queer-identified people; and to signify the use of theoretical tools with which to represent sexuality- and gender-diverse people more effectively within criminological research. The paper will argue that these ways of using ‘queer’ have a variety of implications and effects. Specifically, using ‘queer’ as an umbrella term has the potential to reinforce identity categories and the politics that surround identities (a critique that has often appeared in queer contexts), while using it as a theoretical tool potentially reproduces various investments in criminology and criminal justice institutions. Both uses may preclude other productive avenues for critique opened up by the term ‘queer’. The paper will conclude by suggesting that using ‘queer’ as a verb to signify a more deconstructive project directed towards criminology is a possible direction for these discussions. While this approach has its own effects, and articulates with existing deconstructive approaches in criminology, it is important to explore these possibilities at this point in the development of a ‘queer/ed criminology’ for two reasons: it highlights that multiple, and often competing, ‘queer/ed criminologies’ exist; and it expands the diverse possibilities heralded by the notion of ‘queer’.

A public asset management framework for Indonesian local governments

The decentralisation reform in Indonesia has mandated the Central Government to transfer some functions and responsibilities to local governments including the transfer of human resources, assets and budgets. Local governments became giant asset holders almost overnight and most were ill prepared to handle these transformations. Assets were transferred without analysing local government need, ability or capability to manage the assets and no local government was provided with an asset management framework. Therefore, the aim of this research is to develop a Public Asset Management Framework for provincial governments in Indonesia, especially for infrastructure and real property assets. This framework will enable provincial governments to develop integrated asset management procedures throughout asset‘s lifecycle. Achieving the research aim means answering the following three research questions; 1) How do provincial governments in Indonesia currently manage their public assets? 2) What factors influence the provincial governments in managing these public assets? 3) How is a Public Asset Management Framework developed that is specific for the Indonesian provincial governments‘ situation? This research applied case studies approach after a literature review; document retrieval, interviews and observations were collated. Data was collected in June 2009 (preliminary data collection) and January to July 2010 in the major eastern Indonesian provinces. Once the public asset management framework was developed, a focus group was used to verify the framework. Results are threefold and indicate that Indonesian provincial governments need to improve the effectiveness and efficiency of current practice of public asset management in order to improve public service quality. The second result shows that the 5 major concerns that influence the local government public asset management processes are asset identification and inventory systems, public asset holding, asset guidance and legal arrangements, asset management efficiency and effectiveness, and, human resources and their organisational arrangements. The framework was then applied to assets already transferred to local governments and so included a system of asset identification and a needs analysis to classify the importance of these assets to local governments, their functions and responsibilities in delivering public services. Assets that support local government functions and responsibilities will then be managed using suitable asset lifecycle processes. Those categorised as surplus assets should be disposed. Additionally functions and responsibilities that do not need an asset solution should be performed directly by local governments. These processes must be measured using performance measurement indicators. All these stages should be guided and regulated with sufficient laws and regulations. Constant improvements to the quality and quantity of human resources hold an important role in successful public asset management processes. This research focuses on developing countries, and contributes toward the knowledge of a Public Asset Management Framework at local government level, particularly Indonesia. The framework provides local governments a foundation to improve their effectiveness and efficiency in managing public assets, which could lead to improved public service quality. This framework will ensure that the best decisions are made throughout asset decision ownership and provide a better asset life cycle process, leading to selection of the most appropriate asset, improve its acquisition and delivery process, optimise asset performance, and provide an appropriate disposal program.

The effectiveness of public sector asset management in Malaysia

Property is an important factor in all businesses production in order to function. Nourse (1990) quoted ¡°some businesses are real estate, all businesses use real estate¡±. In recent years, the management of property assets has become the focus of many organisations, including the non-real estate businesses. Good asset management is concerned with the effective utilisation of a property owner.s assets. It is the management process of ensuring that the portfolio of properties held meets the overall requirements of the users. In short, it is the process of identifying the user.s requirement and the rationalisation of property holdings to match that requirement best, followed by a monitoring and ongoing review of practice. In Malaysia, federal agencies and local authorities are among the largest property asset owners. Recently the federal government has released a Total Asset Management Manual (TAMM). It is at the preliminary stage of implementation. This thesis will study the international practices of asset management of public sector assets and assess the effectiveness of TAMM. This research will focus on current international practices for the effective management of public sector property assets. The current application in Malaysia will be highlighted, to determine the awareness and understanding of the current practices to the recently released TAMM. This research is an exploratory research. The basis of this research relies on the combination of qualitative and quantitative approach, whereby the qualitative approach focuses on the international practices and its application to the management of public sector property assets. Questionnaires survey will be conducted among the Malaysian public property assets managers and users in the quantitative approach to gauge the collective opinion on the current practices of TAMM and its implementation

Standardisation of plant and machinery valuation practices in Malaysia

Plant and machinery valuation is important to every company.s annual financial reporting. It is reported under the non-current assets section, and the valuers are generally employed to provide the up to date valuation of the non-current assets valuation such as property, plant and equipment that can make up to 80% of the total assets of a company. The valuation of plant and machinery is also important for other purposes such as securing loan facilities, sales, takeover, insurance and auction. The application of 2005 International Financial Reporting Standard (IFRS) has a subsequent impact on the financial sector, as a whole. The accountants have to choose between the Historical Cost approach and Market Value approach in determining the value of the client.s assets. In Malaysia, the implementation of IFRS has a domino effect on the financial system, especially for plant and machinery valuation for financial reporting. The comparison data for plant and machinery valuation is limited unlike land and building valuation. The question of Malaysian valuer.s ability to comply with the IFRS standard keeps rising every day, not just to the accountants, but also other related parties such as financial institutions, government agencies and the clients. This is happening because of different interpretations of premise of value for plant and machinery, as well as methods been used and differences in standards of reporting among the valuers conducting plant and machinery valuation. The root of the problem lies in the lack of practical guidelines governing plant and machinery valuation practices and different schools of thought among the valuers. Some follow the United Kingdom.s RICS guidelines, whilst some valuers are more comfortable with the United State.s USPAP rules, especially on the premise of value. This research is to investigate the international best practices of plant and machinery valuation and to establish the common valuation concept, awareness and application of valuation methodology and valuation process for plant and machinery valuation in Malaysia. This research uses a combination of the qualitative and quantitative research approach. In the qualitative approach, the content analyses were conducted from the international practices and current Malaysian implementation of plant and machinery valuation. A survey (quantitative approach) via questionnaire was implemented among the registered and probationary valuers in Malaysia to investigate their understanding and opinion relating to plant and machinery valuation based on the current practices. The significance of this research is the identification of international plant and machinery practices and the understanding of current practices of plant and machinery valuation in Malaysia. It is found that issues embedding plant and machinery valuation practices are limited numbers of resources available either from scholars or practitioner. This is supported by the general finding from the research survey that indicates that there are immediate needs for practical notes or guidelines to be developed and implemented to support the Malaysian valuers practising plant and machinery valuation. This move will lead to a better understanding of plant and machinery valuation, reducing discrepancies in valuation of plant and machinery and increased accuracy among practising valuers.