Abstract How to manage inventory is becoming an increasingly crucial issue for most manufacturing companies. R&D, the pseudonymous case study considered here, is a foreign direct investment (FDI) company engaged in producing electronic components. As the prices of raw materials and operation costs increased, R&D was challenged to maintain a smooth relationship among several factors: level of inventory, customer satisfaction and production efficiency. This paper first discusses the key factors that affect R&D’s inventory level. It then combines recent supply chain management theories and quantitative data into a framework for identifying how R&D might determine optimal ordering policies and strategies to reduce overall costs, while at the same time satisfying customers in terms of service.
AbstractThe purpose of this study is to explore the effectiveness of digital and experiential marketing in attracting customer participation in the Hong Kong Wine and Dine Festival. This study explores the evolution of theories and models of digital and experiential marketing, and how they account for participation in a specific event. Findings show that variables related to media have moderate to strong relationship to customer satisfaction: owned media - HKTB Facebook, paid media - search engine, earned media - word-of-mouth, experiential marketing - escapist, experiential marketing - entertainment. Customer satisfaction also has a moderate relationship to customer loyalty. To boost the number of visitors, it is critical to better utilize the owned media – HKTB Facebook, paid media - search engine, and earned media – word-of-mouth to provide information and get positive feedback from visitors. The experiential marketing seems to be equally important and the marketer/organizer should consider providing escapist and entertainment experiences for visitors.A major limitation is the cross-sectional nature of this study. Future research could adopt a longitudinal approach by exploring issues related to promotional tools and types of experience over say three consecutive years. Another limitation is the sample size and type. Numbers are moderate and the snowball sampling adopted is non-probabilistic, which means that findings are suggestive rather than generalizable to all similar events.
Abstract In Singapore, service sectors are dominated by SMEs. This study set out to investigate customer satisfaction as a critical factor in SME survival and indeed in helping to maintain the overall health of the economy. In this study, data were collected from a Singaporean SME which supplies and installs glass for construction projects. Departments involved were Sales & Marketing, Administration, and Installation. A questionnaire survey was administered to every customer of the company in 2013 in order to evaluate the services provided by the three departments. Customers were categorized into five groups: main contractors, designers/sub-contractors, property managers, home owners and commercial owners. Data were analyzed in terms of thirteen customer service variables identified from the literature. Statistical methods were applied to data analysis and findings were arrived at. Findings were found to be sufficiently significant to permit the formulation of a Total Customer Service Excellence Model for SMEs in Singapore.
Abstract The gaming industry occupies the leading position in Macau’s industrial structure and government revenue. Such a dominant position presents dangers, and so from the economic, political, and strategic points of view it is vital for Macau to diversify its economic development. In this paper, we analyze the development of Macau's logistics industry using a SWOT analysis. Results of the analysis are presented. Conclusions are drawn and recommendations are made for developing the role of Macau’s logistics industry.
Abstract In this paper, we focus on inventory management in a manufacturing company in China. This study aims to identify the key factors that influence inventory management practices, investigate efficient and effective inventory management approaches, and examine the impact of supplier cooperation on supply chain improvement. A case study approach is used to identify the key factors that influence inventory management in a factory. Efficient and effective inventory management practices are derived from the case study and may provide practical guidance for foreign manufacturers in China. This study provides a valuable tool for identifying the key factors in inventory management which can be applied to similar problems encountered in actual manufactories.
Abstract Every year Corporate Responsibility Magazine selects and ranks 100 companies on the basis of their corporate social responsibility. This study investigates the stock performance of socially responsible companies in the U.S. The monthly stock returns for these companies are analyzed and compared with the market performance, with the S&P 500 index designated as a proxy for the market. The empirical evidence suggests that these 100 companies outperform the market in their monthly stock returns. We also narrow down the number of companies selected to the top 75, 50, 25, and 10 firms. As we narrow down the companies selected, the difference between their returns and the market returns also narrows. In other words, a portfolio that includes all top 100 companies provides the best stock performance. We extend the analysis to long-term annual stock performance. We find that these socially responsible companies′ annual returns are higher than the market returns for up to seven years after they are listed. We also conduct the same analysis on the top 75, 50, 25, and 10 firms, respectively. Similarly, the larger the number of these top 100 companies, the greater the tendency to generate higher annual returns. We suspect that because the difference between the socially responsible companies′ average returns and the market returns is not dramatic, with a bigger population and thus a larger sample size, the difference becomes more significant. However, in practice, transaction costs must be considered. This study is limited in that it does not consider transaction costs. Nevertheless, we hope to shed some light on the issue of socially responsible companies′ stock performance to encourage companies to start thinking about the importance of corporate social responsibility.
Abstract This paper documents a case study of true and fair view override in financial reporting by a multinational firm subject to International Financial Reporting Standards (IFRSs). The 2009 Interim Report of HSBC Holdings plc states that HSBC departed from the requirements of IAS 32 Financial Instruments: Presentation (IAS 32). Notwithstanding its noncompliance with the IFRSs, HSBC (2009) concluded that “the interim consolidated financial statements prepared on this basis presented fairly, and gave a true and fair view of the Group’s financial position, financial performance and cash flows” (p. 2). The purpose of this paper is to evaluate critically the accounting treatment in light of the relevant requirements of the IFRSs and the implications for professional accounting standards arising from this departure.
Abstract This study examines the impact of leader-member exchange (LMX) and the moderating role of empowerment on employee voice behavior. A sample of 314 supervisor-subordinate dyadic exchanges was collected from a manufacturing firm in Mainland China. The results provided support the view that LMX and empowerment were both significantly associated with employee voice behavior. The positive relationship between LMX and employee voice behavior was stronger when employees received higher levels of empowerment. Theoretical and managerial implications of the research are discussed.
Abstract This paper presents the findings of a comparative study on the performance of the initial public offerings (IPOs) of shares listed on the Hong Kong Stock Exchange (HKX), Singapore Exchange (SGX) and Bursa Malaysia (MYX). One indicator of the success of an IPO is its subscription rate, which can be used as a proxy for the level of investor confidence in the stock being offered. This paper examines the relationship between the performance of an IPO and its subscription rate, and the corporate factors that may affect an investor’s decision to subscribe to an IPO. A previous study conducted in Hong Kong (Ho, 2013) did not find support for the effect of the four corporate factors, namely size, managerial ownership prior to the IPO, industry differences and company age, on the subscription decision. However, managerial ownership prior to the IPO was found to be highly correlated with good performance, which could be attributed to a low agency cost in situations where managerial ownership is substantial. Further evidence from Singapore and Malaysia can help to shed light on the importance of agency cost in the pricing of IPOs.
Abstract Property management has often been described as an after-sale service because the participation of professional property managers is only required upon completion of the building. Recently, however, property management has become an integral part of project development based on its value. These days, managing recreational facilities such as residents’ clubs, gyms and swimming pools, given the frequent use of electronic installations, no longer falls under basic caretaking services. The early detection of hidden problems such as poor quality concealed cables, conduits and pipes and the improper selection of building materials saves time and money in subsequent maintenance and repair work, simultaneously reducing any inconvenience experienced by end-users due to a breakdown in services or defective rectification. Environmental protection and energy conservation are becoming increasingly important in our daily lives, and thus are unavoidable agendas in the design and construction of buildings, be they domestic, commercial or industrial. The input of professional property managers based on their foresight and past work experience with end-users is crucial to the success of such schemes. This paper reviews the value of professional property managers in residential project development.
Abstract A Security Door Access Control System (SDACS) project involves a number of teams from different organizations with diverse project goals. One of the main challenges of such projects is the lack of a standard approach or common understanding to achieve a common goal among project parties. This research examines various management concerns for SDACS projects, highlights the expected common understanding for project participants, develops the project management constructs, and emphasizes on the resulting value of the project to all participants. A two-stage process of scale development and validation was conducted. First, six generic constructs were identified based on the Security Access Control System Framework. Next, a multi-item scale for each construct was developed with reference to the Result-Oriented Management Framework. Expert judges were invited to conduct manual sorting of the items iteratively until reliability and validity was reached. In the next stage, further refinement and validation were carried out with a synthesized survey instrument and a series of statistical testing followed. The finalized SDACS project management constructs and the related findings help reinforce the importance of a standardized management practice for SDACS projects. The value of this research not only benefits SDACS project managers but everyone who works on the project.
Abstract In this paper, I try to complement the existing literature by empirically examining the effect of price clustering and price barriers based on the international stock market. Evidence suggests that a strong effect of clustering and barriers is observed on last digit 0. Such effect is not robust and persistent on last digit 5. In addition, the cross-country analysis shows that price clustering and barriers become intensified in countries with a more transparent and open environment.
Abstract The paper describes theoretically with some empirical evidences the decision and result of strategic alliance as a relationship between people or as a love affair and a commitment to marriage which is ideally, based on shared interest, love, mutual trustworthiness, and commitment to continue the relationship. The main point is that, just as successful human marriages require clarity of needs, purpose, maturity, preparation, patience, nurturing, flexibility, commitment, trust, and compromise, so too will such prerequisites apply to successful organizational strategic alliance relationships. The main task of this conceptual research is to identify the reasons for failures (non-sustainability) of strategic alliances to answer the question of why do they fail. The problem will be later on (phase 2) analysed taking into consideration different industry sectors located in different countries
Abstract In the environment of continuous change today, trust is needed more in most organizations but is enacted less. This paper discusses trust in leadership. Trust is the essence of leadership forming a foundation for functioning relationships and co-operation. Trust is intangible asset, a managerial skill, and an influencing power for leaders. Leadership by trust emphasizes trustful behavior towards employees. It can be defined as an interactive way of leading organizations for effectiveness and profitability. In this paper, we suggest that, it is trustworthiness in leader behavior that matters. Showing trustworthiness by competence, integrity, benevolence, and credibility makes a difference in daily leadership work and sustaining innovations. This paper focuses on how leaders enact on trust by showing trustworthiness to subordinates. Real life case examples are presented and their implications are discussed. In conclusion, leadership by trust matters in building innovative work environment. As to untrustworthy leader behavior, it is worth noting that building and sustaining trust is reciprocal in nature. A practical implication for leaders is that the development of an awareness of trustworthiness and skills for demonstrating it should be a top priority in the current business environment, which demands strong interaction, cooperation, and communication abilities.
Abstract This article studies the way tacit knowledge is dealt with in a high turnover business environment through a qualitative research approach in an engineering organization in Saudi Arabia with respect to organizational culture and values and the effect in competitive stance. The study found peer review process and managerial supervisory style to be effective in enabling new employees in a short time with knowledge critical for them to do a successful job, core values, and open door policy to be necessary factors in forming a fertile environment for a quick tacit knowledge harvesting. The study also showed that a good competitive stance and customer satisfaction can be achieved and maintained through implementation of an innovative peer review process. The study revealed that noneffective utilization of knowledge management technical resources was evident in the current study which may impact on achieving competitive advantage.
Abstract The key issue in higher education quality is the significance of strategic quality initiatives in fulfilling the desire of our stakeholders who may have different perspective views on higher education. The most important issue is to have a direct understanding of quality initiatives, the attributes of quality being used for day to day operations, and the sort of performance driven indicators that are being developed to measure quality. Therefore it is imperative to identify the best practice as a holistic approach that supersedes individual's needs and desires. Touching on soft skills based on core values to sustain strategic quality initiatives plays a vital role. Quality management (QM) initiatives in service companies have been an ongoing effort whereby some have achieved considerable success while others have been less successful. This paper highlights the experience by UNITEN in its drive towards the vision of being a leading quality university.
Abstract In the context of the increasing globalisation of value chains the management of both manufacturing and service firms find themselves faced by contradictory pressures to reduce costs whilst at the same time engaging with customers and suppliers in product improvement and innovation. For advocates of lean production methods the answer is often to be found in a check-list approach to rationalising the present modes of value creation within any organization. Much can be gained by combining such approaches with modes of continuous improvement or kaizen. As Nonaka and Takeuchi (1995) have brilliantly illustrated, the most successful of Japanese firms have achieved their ability to adapt and to innovate through the uses of internal and external appropriation of tacit knowledge. For these authors this implied not only a 'bottom-up' structure of formal organization but also a means of listening and translating experiential knowledge into codifiable product and process designs. In the Japanese context this was seen as being brought about by the day-to-day integration of group decision making into operational management as well as the use of special project teams. The application of the methods has proved much more problematic for Western managers, although Japanese transplants have been relatively successful in the same Western context. In this paper I suggest that leadership styles and the formal organization of knowledge creation have to be seen as being congruent both in their aims and in the manner in which they are operationalised. Managers have also to begin by recognising the basis for the psychological contract held with outside customers, suppliers and other organizational members. Quality, especially in service fields, is often in the eye of the beholder!
Abstract Historically, the study of the world's economy was classified into Micro-economics and Macroeconomics. Perhaps, contemporary economists should learn from the 'astronomists' about the universe which we are part of. We shall name this 'Uni-economics'. Many scientists have found that sunspots affect human behaviour. Some research findings even relate the 11 year periodic cycle to war and peace of mankind. It is also widely-known in the medical profession that sunspot radiation actually affects the physiology of our human body. With all these evidence in mind, the aim of this exploratory research paper is to investigate how sunspot activities can affect the investors' sentiment in the financial world since 1970 when the first post-war financial crisis was built up resulting from the oil crisis in the early '1970s. Time series techniques were deployed to track down the changes of Sunspot Counts over the last 44 years and their impact on the world's 4 main financial indices, i.e., S&P, FTSE, Nikkei & HSI. It was pretty astonishing to find out that, whilst there are insignificant correlations amongst the 4 financial indices over the period under investigation, the impact of the Sunspot Counts on them are highly significant, even on a day-to-day time series analysis. As a corrolary of the finding, the HK Property Market is used as a test case for the research output. It was interesting to find out that, apart from the Solar Minima, the Change-of-Slope from positive to negative also has a significant impact on the HK property prices. Hence, it was evident that there are 2 property clashes during the 11 year sunspot cycle, and their timing can be predicted pretty accurately (2014 & 2019) within +/- one year.
Abstract This paper explores an important but unexplored theme in the development of 'total quality' relationships in the supply chain: why suppliers may exhibit resistance to quality initiatives, and why what seems to customers as cooperation can appear as unwelcome interference or even exploitation to suppliers. This is a question of great relevance to all those seeking to understand current business practice, and also to those seeking to bring about practical improvements in supply chain quality. Too much of the supply chain and quality literature assumes the issue of supplier's compliance with customer initiatives is unproblematic (unable to understand this sentence); experience suggests it is one of the major obstacles in developing the quality-oriented, integrated supply chain.
Abstract There are many iconic high rise buildings in Hong Kong, for example, International Commercial Centre, International Financial Centre, etc. Fire safety issue in high rise buildings has been raised by local fire professionals in terms of occupant evacuation, means of fire-fighting by fire fighters, sprinkler systems to automatically put off fires in buildings, etc. Fire risk becomes an important issue in building fire safety because it relates to life safety of building occupants where they live and work in high rise buildings in Hong Kong. The aim of this research is to identify the fire risk for different types of high rise buildings in Hong Kong and to optimise the fire prevention management for those high rise buildings with higher level of fire risk and to validate the model and also to carry out the study of the conflict between the current fire safety building code and the current trend of green building design. Survey via the 7-point scale questionnaire was conducted through 50 participants and their responses were received and analysed via the statistical tool SPSS software computer program. A number of statistical methods of testing for significantly difference in samples were adopted to carry out the analysis of the data received. When the statistical analysis was completed, the results of the data analysis were validated by two Fire Safety Experts in this area of specialisation and also by quantitative fire risk analysis.
