Closing the cultural distance gap: managing value-based knowledge in MNC by using MEP

Today more than ever, generating and managing knowledge is an essential source of competitive advantage for every organization, and particularly for Multinational corporations (MNC). However, despite the undisputed agreement about the importance of creating and managing knowledge, there are still a large number of corporations that act unethically or illegally. Clearly, there is a lack of attention in gaining more knowledge about the management of ethical knowledge in organizations. This paper refers to value-based knowledge, as the process of recognise and manage those values that stand at the heart of decision-making and action in organizations. In order to support MNCs in implementing value-based knowledge process, the managerial ethical profile (MEP) has been presented as a valuable tool to facilitate knowledge management process at both the intra-organizational network level and at the inter-organizational network level.

The importance of a triple bottom line approach for safeguarding urban water quality

Water environments are greatly valued in urban areas as ecological and aesthetic assets. However, it is the water environment that is most adversely affected by urbanisation. Urban land use coupled with anthropogenic activities alters the stream flow regime and degrade water quality with urban stormwater being a significant source of pollutants. Unfortunately, urban water pollution is difficult to evaluate in terms of conventional monetary measures. True costs extend beyond immediate human or the physical boundaries of the urban area and affect the function of surrounding ecosystems. Current approaches for handling stormwater pollution and water quality issues in urban landscapes are limited as these are primarily focused on ‘end-of-pipe’ solutions. The approaches are commonly based either on, insufficient design knowledge, faulty value judgements or inadequate consideration of full life cycle costs. It is in this context that the adoption of a triple bottom line approach is advocated to safeguard urban water quality. The problem of degradation of urban water environments can only be remedied through innovative planning, water sensitive engineering design and the foresight to implement sustainable practices. Sustainable urban landscapes must be designed to match the triple bottom line needs of the community, starting with ecosystem services first such as the water cycle, then addressing the social and immediate ecosystem health needs, and finally the economic performance of the catchment. This calls for a cultural change towards urban water resources rather than the current piecemeal and single issue focus approach. This paper discusses the challenges in safeguarding urban water environments and the limitations of current approaches. It then explores the opportunities offered by integrating innovative planning practices with water engineering concepts into a single cohesive framework to protect valuable urban ecosystem assets. Finally, a series of recommendations are proposed for protecting urban water resources within the context of a triple bottom line approach.

Delivering value for money in the procurement of public sector major infrastructure : a new first-order decision making model

The significant challenge faced by government in demonstrating value for money in the delivery of major infrastructure resolves around estimating costs and benefits of alternative modes of procurement. Faced with this challenge, one approach is to focus on a dominant performance outcome visible on the opening day of the asset, as the means to select the procurement approach. In this case, value for money becomes a largely nominal concept and determined by selected procurement mode delivering, or not delivering, the selected performance outcome, and notwithstanding possible under delivery on other desirable performance outcomes, as well as possibly incurring excessive transaction costs. This paper proposes a mind-set change in this particular practice, to an approach in which the analysis commences with the conditions pertaining to the project and proceeds to deploy transaction cost and production cost theory to indicate a procurement approach that can claim superior value for money relative to other competing procurement modes. This approach to delivering value for money in relative terms is developed in a first-order procurement decision making model outlined in this paper. The model developed could be complementary to the Public Sector Comparator (PSC) in terms of cross validation and the model more readily lends itself to public dissemination. As a possible alternative to the PSC, the model could save time and money in preparation of project details to lesser extent than that required in the reference project and may send a stronger signal to the market that may encourage more innovation and competition.

Sustainable fashion textiles design : value adding through technological enhancement

A key concern in the field of contemporary fashion/textiles design is the emergence of ‘fast fashion’: best explained as "buy it Friday, wear it Saturday and throw it away on Sunday" (O'Loughlin, 2007). In this contemporary retail atmosphere of “pile it high: sell it cheap” and “quick to market”, even designer goods have achieved a throwaway status. This modern culture of consumerism is the antithesis of sustainability and is proving a dilemma surrounding sustainable practice for designers and producers in the disciplines (de Blas, 2010). Design researchers including those in textiles/fashion have begun to explore what is a key question in the 21st century in order to create a vision and reason for their disciplines: Can products be designed to have added value to the consumer and hence contribute to a more sustainable industry? Fashion Textiles Design has much to answer for in contributing to the problems of unsustainable practices on a global scale in design, production and waste. However, designers within this field also have great potential to contribute to practical ‘real world’ solutions. ----- ----- This paper provides an overview of some of the design and technological developments from the fashion/textiles industry, endorsing a model where designers and technicians use their transferrable skills for wellbeing rather than desire. Smart materials in the form of responsive and adaptive fibres and fabrics combined with electro active devices, and ICT are increasingly shaping many aspects of society particularly in the leisure industry and interactive consumer products are ever more visible in healthcare. Combinations of biocompatible delivery devices with bio sensing elements can create analyse, sense and actuate early warning and monitoring systems which can be linked to data logging and patient records via intelligent networks. Patient sympathetic, ‘smart’ fashion/textiles applications based on interdisciplinary expertise utilising textiles design and technology is emerging. An analysis of a series of case studies demonstrates the potential of fashion textiles design practitioners to exploit the concept of value adding through technological garment and textiles applications and enhancement for health and wellbeing and in doing so contribute to a more sustainable future fashion/textiles design industry.

The level and quality of Value-at-Risk disclosure by commercial banks

In this paper we study both the level of Value-at-Risk (VaR) disclosure and the accuracy of the disclosed VaR figures for a sample of US and international commercial banks. To measure the level of VaR disclosures, we develop a VaR Disclosure Index that captures many different facets of market risk disclosure. Using panel data over the period 1996–2005, we find an overall upward trend in the quantity of information released to the public. We also find that Historical Simulation is by far the most popular VaR method. We assess the accuracy of VaR figures by studying the number of VaR exceedances and whether actual daily VaRs contain information about the volatility of subsequent trading revenues. Unlike the level of VaR disclosure, the quality of VaR disclosure shows no sign of improvement over time. We find that VaR computed using Historical Simulation contains very little information about future volatility.

Grocery product pricing and Australian supermarket consumers : gender differences in perceived importance levels

Grocery shopping is an essential and routine activity. Although long regarded the responsibility of the female spouse, modern social and demographic shifts are causing men to become more engaged in this task. This is the first study to analyse gender differences with respect to the criterion of grocery product price within an Australian supermarket retail environment. A stratified sample of 140 male and 140 female grocery shoppers was surveyed. Results showed that men considered price attributes of products as being significantly lower in importance than did women. Additionally, men displayed lower levels of price nvolvement, reported referencing shelf price to a lesser extent, and gave lesser consideration to promotional tactics focusing on low price. Although men on average buy fewer items than do women, they spend more money for each item they purchase. This higher expenditure per item appears to be driven, at least in part, by a lack of price referencing. This research has implications for gender studies and consumer behaviour disciplines in relation to grocery shopping.

Understanding IT business value creation and evaluation in least developed economies

Information Technology (IT) is an important resource that can facilitate growth and development in both the developed and developing economies. The forces of globalisation increase the digital divide between the developed and developing economies is increasing. The least developed economies (LDEs) are the most vulnerable within this environment. Intense competition for IT resources means that LDEs need a deeper understanding of how to source and evaluate their IT-related efforts. This effort puts LDEs in a better position to source funding from various stakeholders and promote localized investment in IT. This study presents a complementary approach to securing better IT-related business value in organizations in the LDEs. It further evaluates how IT and the complementaries need to managed within the LDEs. Analysis of data collected from five LDEs show that organizations that invest in IT and related complementaries are able to better their business processes. The data also suggest that improved business processes lead to overall business processes improvements. The above is only possible if organizations adopt IT and make related changes in the complementary resources within the established culture and localizing the required changes.

On IT and business value in developing countries : A complementarities-based approach

Developing economies accommodate more than three quarters of the world's population. This means understanding their growth and well-being is of critical importance. Information technology (IT) is one resource that has had a profound effect in shaping the global economy. IT is also an important resource for driving growth and development in developing economies. Investments in developing economies, however, have focused on the exploitation of labor and natural resources. Unlike in developed economies, focus on IT investment to improve efficiency and effectiveness of business process in developing economies has been sparse, and mechanisms for deriving better IT-related business value is not well understood. This study develops a complementarities-based business value model for developing economies, and tests the relationship between IT investments, IT-related complementarities, and business process performance. It also considers the relationship between business processes performance and firm-level performance. The results suggest that a coordinated investment in IT and IT-related complementarities related favorably to business process performance. Improvements in process-level performance lead to improvements in firm-level performance. The results also suggest that the IT-related complementarities are not only a source of business value on their own, but also enhance the IT resources' ability to contribute to business process performance. This study demonstrates that a coordinated investment approach is required in developing economies. With this approach, their IT resources and IT-related complementaries would help them significantly in improving their business processes, and eventually their firm-level performances.

Information technology and business value in developing economies: a study of intangible benefits of information technology investments in Fiji

Understanding how IT investments contribute to business value is an important issue, and this assists in the efficient use of technology resources in businesses. While there is an agreement that IT contributes to business value, we are unsure of how IT contributes to business value in the wider context, including developing countries. With the view that understanding the interaction between IT resources and the users may provide better insights on the potential of IT investments, this study investigates the businesses’ perception of the intangible benefits of their IT investments. The results indicate that businesses in developing countries perceive that their IT investments provide intangible benefits, especially at the process level, and this contributes to business value.

Assessing the real value in residential property investment

One of the major fall outs from the Global Financial Crisis has been the decline in residential property construction, home lending and residential property prices. This has lead to some extent to a reduction in the number of small investors willing to commit funds to an investment market that is not seen to perform as well as other investment assets, particularly in relation to income return.With a decreasing supply of rental accommodation in the housing markets, less public housing being constructed by both State and Commonwealth Governments, there is the potential for the residential property market to provide more substantial returns than previous years.This paper will analyse the current residential housing market in Brisbane, Australia to determine if there are sectors in this market that are outperforming the average income and total return for residential investment property and the variation in investment performance across the various housing sub-markets. The results show that property investment in residential property provides opportunities to maximize returns based on geographic location and socio-economic economic status, with lower value areas showing the highest income returns and higher value suburbs showing greater capital returns

Measuring complexity for building projects : a Delphi study

Purpose---The aim of this study is to identify complexity measures for building projects in the People’s Republic of China (PRC). Design/Methodology/Approach---A three-round of Delphi questionnaire survey was conducted to identify the key parameters that measure the degree of project complexity. A complexity index (CI) was developed based on the identified measures and their relative importance. Findings---Six key measures of project complexity have been identified, which include, namely (1) building structure & function; (2) construction method; (3) the urgency of the project schedule; (4) project size/scale; (5) geological condition; and (6) neighboring environment. Practical implications---These complexity measures help stakeholders assess degrees of project complexity and better manage the potential risks that might be induced to different levels of project complexity. Originality/Value---The findings provide insightful perspectives to define and understand project complexity. For stakeholders, understanding and addressing the complexity help to improve project planning and implementation.

Considering the importance of a systems approach to integrating ESD with campus operations

Society faces an unprecedented global education challenge to equip professionals with the knowledge and skills to address emerging 21st Century challenges, spanning climate change mitigation through to adaptation measures to deal with issues such as temperature and sea level rise, and diminishing fresh water and fossil fuel reserves. This paper discusses the potential for systemic and synergistic integration of curriculum with campus operations to accelerate curriculum renewal towards ESD, drawing on the authors' experiences within engineering education. The paper begins by a providing a brief overview of the need for timely curriculum renewal towards ESD in tertiary education. The paper then highlights some examples of academic barriers that need to be overcome for integration efforts to be successful, and opportunities for promoting the benefits of such integration. The paper concludes by discussing the rational for planning green campus initiatives within a larger system of curriculum renewal considerations, including awareness raising and developing a common understanding, identifying and mapping graduate attributes, curriculum auditing, content development and strategic renewal, and bridging and outreach.

Information technology resources,complementaries and capabilities : towards a deeper understanding of leveraging business value from IT

Organisations devote substantial resources to acquire information technology (IT), and explaining the important issue of how IT can affect performance has posed a significant challenge to information system (IS) researchers. Owing to the importance of expanding our understanding on how and where IT and IT-related resources impact organisational performance, this study investigates the differential effects of IT resources and IT-related capabilities, in the presence of platform-related complementarities, on business process performance. We test these relationships empirically via a field survey of 216 firms. The findings suggest that IT resources and IT-related capabilities explain variance in performance. Of interest is the finding that IT resources and IT-related capabilities ability to explain variance in business process is further enhanced by the presence of the platform-related complementarities. Our findings are largely consistent with the resource-based and complementarity arguments of sources of IT-related business value.

The perceived importance of mall retail categories and its effect on likelihood of purchase during a recession

Recessions impact the retail sector and as such research into consumer decision making during such times is imperative. In response to this, our study takes an innovative approach to examining how the perceived importance of retail store categories in a shopping mall influences the relationship between consumers' shopping attitudes and likelihood of purchasing in those categories during a recession. The overall findings show the importance of a product category to a consumer, which is often overlooked, has a strong explanatory influence on consumer purchase intentions for that specific retail store categories in a shopping mall under recession conditions. Findings also show that for consumers’ who have altered their shopping behaviour the perceived importance of a retail store category fully mediates the relationship for: Majors, Leisure, Food Catered and Mini Majors categories, and partial mediation for Apparel. Importance has no mediating effect for: Food Retail, General Retail, Mobile Phone Services, Home wares, and Retail Services. Our study makes a key contribution to the retail management literature with the findings suggesting that redefining and articulating the importance of the value offering for specific retail store categories can help reduce the impact of changes in consumers' recessionary shopping intentions across the mall tenant mix. Such actions can then help preserve the image of the shopping mall in the minds of the consumers when the economic recovery begins.

Preparing to teach : perceptions of graduate entry teacher education students

International reviews of teaching and teacher education have highlighted the importance of quality teachers in improving the outcomes of students. Teachers may enter the teaching profession through a variety of pathways. Currently in Australia, one pathway is through graduate entry teacher education programs in which people who already hold university degrees outside of education can undertake one-year formal teacher preparation programs. It may be argued that graduate entry teachers value add to the teaching profession as they bring with them a range of careers and wealth of experiences often beyond those of teachers who enter the profession through traditional four-year Bachelor of Education programs. This paper reports on a study that investigated the preparedness to teach of a group of graduate entry teacher education students as they prepared to exit from university and enter the teaching profession. The study concluded that this group of graduating teachers perceived that the field experience components in their formal teacher education programs contributed most to their beginning professional learning. The study revealed also that this group of graduating teachers sought further professional learning opportunities in the canonical skills of teaching. These findings may be used to inform the design of future teacher education programs.