Are Australia’s universities in deficit? A tale of generic managers, audit culture, and casualisation

Managerial changes to Australian universities have had considerable impact on employees. In this paper we consider some of these changes and apply a theory known as the democratic deficit to them. This theory was developed from the democratic critique of managerialism, as it has been applied in the public sector in countries with Westminster-type political systems. This deficit covers the weakening of accountability through politicisation, the denial of public values through the use of private sector performance practices, and the hollowing out of the state through the contracting out and privatisation of public goods and services, and the redefinition of citizens as customers and clients. We suggest that the increased power of managers, expansion of the audit culture, and the extensive use of contract employment seem to be weakening the democratic culture and role of universities in part by replacing accountability as responsibility with accountability as responsiveness.

Investigating marketing managers' perspectives on social media in Chile

Social media has reached global proportions, yet little is known about firms’ engagement with these Web 2.0 technologies in emerging markets within Latin America. The study investigates Chilean marketing managers’ perspectives on social media platforms, the benefits or barriers to their firm’s marketing practices and the impact they have on the immediate marketing environment based on in-depth interviews. Applying Okazaki and Taylor’s (2013) social media framework the findings provide an understanding of social media’s role for Chilean firms in customer engagement, brand image enhancement, return on investment, and meeting consumer needs through time and place. Additional themes emerged on the use of social media through Smartphones and their value for future marketing activities.

On the benefits of equicorrelation for portfolio allocation

The importance of modelling correlation has long been recognised in the field of portfolio management, with largedimensional multivariate problems increasingly becoming the focus of research. This paper provides a straightforward and commonsense approach toward investigating a number of models used to generate forecasts of the correlation matrix for large-dimensional problems.We find evidence in favour of assuming equicorrelation across various portfolio sizes, particularly during times of crisis. During periods of market calm, however, the suitability of the constant conditional correlation model cannot be discounted, especially for large portfolios. A portfolio allocation problem is used to compare forecasting methods. The global minimum variance portfolio and Model Confidence Set are used to compare methods, while portfolio weight stability and relative economic value are also considered.

Coachable moments: Identifying factors that influence managers to take advantage of coachable moments in day-to-day management

The purpose of this study was to identify the factors that influence managers to take advantage of coachable moments in day-to-day management. Interviews with ten managers found that time, skills, and relationships were key factors considered by managers, but that these were considered within the context of potential “risk” to the manager. This paper elaborates on these findings and makes recommendations for further research into how managers consciously assess the risks associated with coaching, in order to decide whether to take advantage of an informal coaching opportunity.

Middle managers' uncertainty management during organizational change

Purpose This study aims to identify factors that facilitate or inhibit middle managers' experience of uncertainty management during organizational change. Design/methodology/approach The approach is qualitative and involved interviews with 40 middle managers from a range of organizations. Findings Analysis revealed that at the pre‐implementation stage, uncertainty focused on the strategic concept of the change, whereas at implementation, uncertainty related to the appropriate procedures to implement. Middle managers’ uncertainty management was found to be important in assisting their employees in the change transition. The factors identified as being either facilitators or barriers to uncertainty management focused on themes related to the design of change, communication with both senior management and their own staff, support from senior management, role conflict, and peer interaction. A model was created to link facilitators and barriers with uncertainty to guide future research. Research limitations/implications Implications for organizational change research along with practical implications are discussed. Originality/value This study provides insight into the positive contributions middle managers can make during change, along with suggesting what factors are facilitators or barriers to this positive role.

Creativity and design

Innovation and Entrepreneurship: Creating New Value covers all of the major aspects of innovation strategy and capabilities, including leadership of innovation, creativity, design led innovation, open innovation, management of the innovation portfolio and new product development processes. Ultimately, innovation is accomplished by people, and this book recognises the critical contribution of leadership and organisational culture to developing and promoting innovation behaviours. For startups and entrepreneurs, the book covers the practical, powerful tests that a new idea should be subjected to, as well as providing an overview of the entrepreneurship process. Another feature of the book is the detailed presentation of the practices common to highly innovative organisations that distinguishes them from low innovating organisations. Underpinned by research, this information is translated into an innovation audit tool that can be used by managers or students alike.

Major project managers’ internal and external stakeholder relationships: The development and validation of measurement scales

In this paper, we detail the development of two stakeholder relationships scales. The scales measure major project managers' perceived competence in developing (establishing and maintaining) high quality, effective relationships with stakeholders who are internal and external to their organization. Our sample consists of 373 major project managers from a sub-set of the Australian defense industry. Both the internal stakeholder relationships scale and the external stakeholder relationships scale demonstrated validity and reliability. This research has implications for the interpersonal work relationships literature and the stakeholder management literature. We recommend that researchers test these scales with multiple samples, across different project types and project industries in the future. The stakeholder relationship scales should be versatile enough to be applied to project management generally but are perhaps best suited to major project environments.

The purpose and place of mentoring for women managers in organisations: An Australian perspective

Mentoring has been identified as an important career development activity for women managers. Over the last four decades, organisations world-wide have implemented formal mentoring programs for women and for members of minority groups in recognition of the personal and professional benefits mentoring provides, not only for persons who are mentored but also, for those who undertake the mentoring. This chapter reviews the literature on mentoring and the contribution it can make to the career development of women managers. It reviews several inter-related bodies of literature: women’s representation in management positions worldwide; theories and frameworks of mentoring; empirical research exploring the impact of mentoring relationships on women managers’ career development; current illustrations of formal programs offered to women managers in the public and private sectors; and some critical issues that continue to impact women managers in relation to mentoring relationships. The chapter concludes by making an argument for further research on gender and mentoring.

A review of efficiency measures for REITs and their specific application for Malaysian Islamic REITs

Purpose This paper aims to present a conceptual model on the efficiency of Islamic Real Estate Trusts (I-REITs) available in Malaysia. The key difference between the Islamic and their conventional investment vehicle part is mainly its own Shariah framework. Design/methodology/approach The paper reviews and synthesises the relevant literature on the performance analysis and efficiency measurements of Real Estate Investment Trusts. The paper then develops and proposes a conceptual model to measure the efficiency of Malaysian Islamic REITs. Findings The paper identifies and examines the appropriate methods and instruments to measure the efficiency in relation to the risk and profitability of Islamic REITs. The efficiency measure is important for the fund managers in order to maximise the shareholders’ return in an investment of property portfolio as well as proposing the best way to allocate resources efficiently. Research limitation/implications This is a preliminary review of current work that identifies the issues that will be addressed in future empirical research. The authors will be undertaking this future empirical research in measuring the efficiency of Malaysian REITs particularly the Islamic REITs using the non-parametric approach of Data Envelopment Analysis. Originality/value To date, there has been very limited research on the efficiency measurement of Islamic REITs. The current analysis of REIT has been focused on traditional non-Islamic funds. This paper will review and discuss the current literature on efficiency measurement to determine the most appropriate approaches and methodologies for future application in performance analysis of efficiency measure for Malaysian Islamic REITs.

Islamic fund and asset management: The opportunities and challenges of Islamic REITs

Purpose This paper aims to present a review on the issues and challenges for Islamic Funds and Asset Management, particularly the Islamic Real Estate Trusts (I-REITs) available in Malaysia. The key difference between the Islamic and the conventional investment vehicle is mainly the fund needs to adhere to the Shariah framework. Design/methodology/approach The paper reviews and synthesises the relevant literature on the framework of Islamic Asset and Fund Management, particularly the Islamic Real Estate Investment Trusts. The paper then provides insights for further research to address the issues and consider the Shariah framework applicable to other further research works. Findings The paper highlights the opportunities and challenges of Islamic REITs globally. There is a lack of the standardisation in the screening methodology used by the Malaysian I- REITs and Singapore I-REITs as the latter follows the Gulf Cooperation Council (GCC) guideline to capture the investors mainly from the Gulf countries. In term of tenants’ selection, there is similarity between I-REITs and the Socially Responsible Investment (SRI) or ethical investment. The gap between the investments can be bridged if the Islamic funds skewed the investment portfolio towards the social and ethical investment. Even though there is a limitation in the investment universe, I-REITs provide better diversification option and show better performance compared to the equity market during the economic crisis. The introduction of the Shariah-compliant REITs index for Asia Pacific allows the fund managers to benchmark the performance of either the funds or the sector with other investment vehicles. This will encourage more investors to consider I-REIT in the decision making of the asset allocation portfolio and broadening the horizon of the investment. Originality/value The contribution of the study is the examination and analysis of the Shariah framework currently adopted for Islamic REITs. This will assist in the identification of specific issues associated with Islamic REITs that will need to be addressed in the development and application of further research in the aspect of the management and operations to increase the efficiency level and better performance in order to capture more investors in this specific and promising market.

The Effect of Framing on Layoff Decisions: Are More-Experienced Managers More Rational? Does Computerized Data Make Any Difference?

[Excerpt] The effects of framing on decisions has been widely studied, producing research that suggests individuals respond to framing in predictable and fairly consistent ways (Bazerman, 1984, 1990; Tversky & Kahneman, 1986; Thaler, 1980). The essential finding from this body of research is that "individuals treat risks concerning perceived gains (for example, saving jobs and plants) differently from risks concerning perceived losses (losing jobs and plants)" (Bazerman, 1990, pp. 49-50). Specifically, individuals tend to avoid risks concerning gains, and seek risks concerning losses.

Portfolio Optimization in a Semi-Markov Modulated Market

We address a portfolio optimization problem in a semi-Markov modulated market. We study both the terminal expected utility optimization on finite time horizon and the risk-sensitive portfolio optimization on finite and infinite time horizon. We obtain optimal portfolios in relevant cases. A numerical procedure is also developed to compute the optimal expected terminal utility for finite horizon problem.

Understanding the line managers’ HRM role expectations: Does size matter?

Recent years have witnessed burgeoning interest in the line managers' contribution to HRM effectiveness. This effort requires organizations to consider important contextual conditions to ensure the desired organizational outcomes. This paper explores the significance of the organization size in understanding the line managers' involvement in HRM activities. Two case studies were conducted, one in a large and another in a small airport involving key members of the airport management who were closely related to the line managers' HRM role. Content analysis was employed to analyze data from the interviews and written documents. While there were many similarities in the line managers' HRM role, the differences in the line managers' HRM role expectations are also found to be related to differences in the size of the organization. More responsibility is expected from line managers in the large airport as compared to the small airport. This finding has important implications in aligning the HRM strategy and organizational outcomes through the line management contribution.

A taxonomic approach to understanding managerial ethical decision making approaches of clinically and non-clinically trained healthcare managers in Australia

Objective To understand differences in the managerial ethical decision-making styles of Australian healthcare managers through the exploratory use of the Managerial Ethical Profiles (MEP) Scale. Background Healthcare managers (doctors, nurses, allied health practitioners and non-clinically trained professionals) are faced with a raft of variables when making decisions within the workplace. In the absence of clear protocols and policies healthcare managers rely on a range of personal experiences, personal ethical philosophies, personal factors and organizational factors to arrive at a decision. Understanding the dominant approaches to managerial ethical decision-making, particularly for clinically trained healthcare managers, is a fundamental step in both increasing awareness of the importance of how managers make decisions, but also as a basis for ongoing development of healthcare managers. Design Cross-sectional. Methods The study adopts a taxonomic approach that simultaneously considers multiple ethical factors that potentially influence managerial ethical decision-making. These factors are used as inputs into cluster analysis to identify distinct patterns of influence on managerial ethical decision-making. Results Data analysis from the participants (n=441) showed a similar spread of the five managerial ethical profiles (Knights, Guardian Angels, Duty Followers, Defenders and Chameleons) across clinically trained and non-clinically trained healthcare managers. There was no substantial statistical difference between the two manager types (clinical and non-clinical) across the five profiles. Conclusion This paper demonstrated that managers that came from clinical backgrounds have similar ethical decision-making profiles to non-clinically trained managers. This is an important finding in terms of manager development and how organisations understand the various approaches of managerial decision-making across the different ethical profiles.