An Integrated Approach to Strategic Asset Management

This paper focuses on identifying and analysing the elements of Strategic Management for infrastructure and engineering assets. These elements are contended to involve an understanding of governance, corporate policy, corporate objectives, corporate strategy and interagency collaboration and will in turn, allow the ability determine a broader and more comprehensive framework for engineering asset management, ie a ‘staged approach’ to understanding how assets are managed within organisations. While the assets themselves have often been the sole concern for good management practices, other social and contextual elements have come into the mix in order to promote strategic asset management. The development of an integrated approach to asset management is at the base of the research question. What are the considerations and implications for adopting and implementing an integrated strategic asset management (ISAM) framework? While operational matters have been given prominence, a subset of corporate governance, Asset Governance, details the policies and processes needed to acquire, utilise, maintain and account for an organisation’s assets. Asset governance stems from the organisation’s overarching corporate governance principles; as a result it defines the management context in which engineering asset management is implemented. This aspect will be examined to determine the appropriate relationship between organisational strategic management and strategic asset management to further the theoretical engagement with the maturity of strategy,policy and governance for infrastructure and engineered assets. Asset governance stems from the organisation’s overarching corporate governance principles; as a result it defines the management context in which engineering asset management is implemented. The research proceeds by a document analysis of corporate reports and policy recommendations in terms of infrastructure and engineered assets. The paper concludes that incorporating an integrated asset management framework can promote a more robust conceptualisation of public assets and how they combine to provide a comprehensive system of service outcomes

Managing Risk: A Hermeneutic Phenomenology on the Experiences of Corporate Instructors When Planning and Developing Disaster Driven Training Content

This phenomenological study aimed to understand and interpret corporate trainers\u27 perspectives when developing disaster or pandemic-driven training content for remote situations and suggest a baseline response to identified deficits. Using the disaster risk management theory by Kim and Sohn (2018), with specific emphasis on Petak\u27s (1985) and McLoughlin\u27s (1985) framework, data from the participants was collected using semi-structured individual interviews, document analysis, and observations. While corporate trainers have used years of experience and seasoned pedagogy to enhance learning for their participants to achieve corporate objectives, almost no content exists regarding the process. Due to increased remote learning resulting from the pandemic following the coronavirus outbreak, it was essential to understand corporate trainers\u27 perspectives when creating content for novel situations. The central question for this study sought to understand the experiences corporate instructors had with developing disaster or pandemic-driven training content in their industry under remote learning conditions. This study investigated corporate readiness and training related to data/information security, culture preservation, and risk management in remote environments through interviews, observations, and document analysis, allowing insightful interpretation of the participants\u27 lived experiences. Findings showed that although reflective, corporate trainers did utilize elements of the DRM framework specifically as it relates to risk preparation, mitigation, and response to develop disaster driven training content and see the benefit of an integrated and proactive approach to developing risk and disaster driven training content

The recognition and application of security risk management in corporate governance

Security as a profession and discipline has emerged principally in the later half of the twentieth century and has developed to become a more defined, usual, respectable and visual part of management. This study aimed to determine the degree of recognition and application of security risk management to corporate governance practices in Australia. Formal research design used descriptive research methodology, consisting of a literature review, primary document analysis and a questionnaire survey to collect data. This research was contrasted to a Corporate Governance Security Model formulated to determine if the model is applicable to the recognition, or application, of a security function to the Australian Stock Exchange (\u27ASX\u27) Corporate Governance principles. A major finding of this study is that security functions and responsibilities are poorly recognised and documented by Australia\u27s largest public company boards. A majority of directors will have no experience or qualifications in security risk management and this is likely to be reflected down through the organisation resulting in low to medium security awareness and culture. Corporate governance statements from companies listed on the ASX/S&P 200 strongly suggests that security related risks are not widely considered as part of the corporate governance framework. With limited application of security in the corporate governance framework, there is less focus on security related behaviour within the codes of conduct held by a majority of public companies. This can have an adverse impact on corporate ethics, internal controls and crisis response capabilities. The study developed a model which implements security risk management functions to the corporate governance framework in order to formally recognise and promote effective management of security risk and compliance. Applying security as a business process to support long term revenue was found to benefit corporate reputation and compliments other risk and business management practices. Security of information and confidentiality is enhanced to encourage reports of misconduct within the company, generating a security and reporting culture. Security functions are currently limited to form part of internal controls within the operating environment and generally viewed as a cost centre which does not contribute to revenue. Security functions are not holistically applied across the organisation or within the corporate governance framework. There are a number of recommendations resulting from the study and are primarily concerned with the continued need for research into the application and recognition of security within the hierarchy of executive and business management

Application of Corporate Governance Principles for the Sustainability and Competitiveness of Small and Medium Scale Enterprises: A Literature Review

Literatures on the globe revealed that corporate governance practices and SMEs definition vary across nations based on the framework and cultural situation of countries under consideration. Besides, this difference can also be a result of different perspectives of policy-makers, researchers, practitioners, or theorists. Obviously, corporate governance is common for large and listed companies due to separation of ownership and control considering agency problem. On the other hand, issues of corporate governance for SMEs are possibly the most debated ones due to duality of ownership and control. However, the debates are not on the merits regarding need of corporate governance for the sector, rather on what are the appropriate governance norms and how to implement the same. Based on path of existed literature, SMEs can take the legal form of sole proprietorship, partnership or company. Pinning faith on this concept, it’s advisable to set legal framework for the sustainability of SMEs. Accordingly, the purpose of this review was to put forward appropriate corporate governance principles applied to SMEs in general for their sustainability and competitiveness. Methodologically, this study is qualitative approach in nature employing secondary data in which document analysis of relevant empirical literature of published journal articles and review of different corporate governance theories were used to formulate the discussions. Hence, the author reviewed empirical literatures and corporate governance theories including fundamental and ethical theories to suggest applicable norms of good corporate governance for SMEs. Consequently, the review revealed that corporate social responsibility, compliance with rules and regulations, risk management, fairness and accountability, dispute resolution, Transparency and full disclosure of information ,Internal control, and Internal audit should be applied and used as framework of governance by SMEs  in general for their sustainability and competitiveness. Keywords: CG Principles, CG Theories, Competitiveness, Ownership & Control, SMEs, and Sustainabilit

Implementing Information Management Strategically: An Australian EDRMS Case Study

Organisations in both private and public sectors are increasingly becoming aware of the need to take a strategic approach to the management of corporate information and records. In this paper we present a case study of a successful Electronic Document and Records Management System (EDRMS) implementation within a major Australian capital city council. Guided by Ward and Peppard’s strategic systems framework (2002), the case study highlights a set of strategies which were responsible for the successful outcome of the implementation – and shows just how crucial it is for any organisation to bring with it the people and the processes involved in the creation, management and maintenance of records and information, if a centralised approach is to work over the longer term

Creating shared value of corporate social development programmes : ranked versus unranked South African brands

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Masters in Management Strategic Marketing 2016Context: Annually in South Africa, results of the Sunday Times Top Brands survey are released. Within this study is a ranking “brands that do the most to uplift the community” voted by the public, which is widely quoted by those brands included in the study. If this is the dominant study reporting on a “socially responsible organisation”, the study provides a guideline on how the organisation will be more likely to be thought to be in the top companies “doing the most to uplift communities”. A brief statement of the conceptual framework of the research: This, study employed the recently developed Porter and Kramer (2011) Corporate Social Responsibility (CSR) vs. Creating Shared Value (CSV) model as a return on corporate social development programs framework. The study sought to assess whether management in companies that are highly ranked adopt the CSR paradigm constructs (where the value is doing good) or the CSV paradigm constructs (where the value is economic and societal benefits relative to cost) as proposed by the Porter and Kramer (2011) model [Abbreviated abstract. Open document to view full version]GR201

Bank affiliated directors and earnings management: Evidence from India

We examine the governing impact of creditors, i.e. Bank Appointed Directors (BAD), on the earnings management of corporate firms in a context which is characterized by underdeveloped financial institutions, a weak legal (contract) enforcement system and lack of insolvency resolution framework, i.e. India. Unlike the US, where BADs play a limited monitoring role, BADs in India play an active role in firm monitoring and thus have a negative impact on the discretionary accruals. Further, we document that the impact is greater for firms with a greater degree of information asymmetry and the agency problem. These results remain robust even after controlling for potential endogeneity issue

Eco-Labelling as a Tool of CSR: Opportunities and Threats

Corporate Social Responsibility is a concept which, although it is developing for many years, it is constantly improved in both terms – theoretical and practical. In theory area are creating new definitions and new areas for action shots and in practice area are sought new instruments that could be used in pro-social activities. In this way, more and more expanding a set of tools that are available for socially responsible companies. In this article will be discuss the eco-labeling, which is an instrument belonging to the traditional set of activities in the framework of CSR. Eco-labeling is relatively poorly described issue in literature. In practical area, we can also find deficiencies. Analyzing the areas of corporate social responsibility calculated by ISO 26000, eco-labeling can be included into the area of the environment, fair operating practices and consumer issues. This shows how multi-dimensional issue is the use of eco-labeling. This fact creates the possibility of assessing this practices of different points of view - companies , consumers and the environment. The purpose of this article is to identify opportunities and risks associated with the use of ecolabelling as a tool of CSR. In this article the authors will show that the activity in the area of eco-labeling not only builds the image of a socially responsible company, but also translates to specific business benefits. In addition, the authors will attempt to assess the proportion of customers for products marked with eco-labeling. Analysis of the problem will be based on the available literature in the field of corporate social responsibility, marketing, sustainable development and environmental protection.Urszula Gołaszewska- Kaczan: [email protected] Kruk: [email protected] Śleszyńska-Świderska: [email protected] hab. Urszula Gołaszewska- Kaczan, prof. UwB – Faculty of Economics and Management, University of BialystokMarek Kruk, Ph.D. – Faculty of Economics and Management, University of BialystokAnna Śleszyńska-Świderska, M.A. – Faculty of Economics and Management, University of BialystokAllaire Y., Firsirotu M. 2000 Myślenie strategiczne, PWN, Warszawa.Atănăsoaie G. S. 2013 Eco-Label and its Role in the Development of Organic Products Mar-ket, “Economy Transdisciplinarity Cognition”, Vol. 16, Issue 1.Bostrom M., Klintman M. 2011 Eco-Standards, Product Labeling and Green Consumerism, Palgrave Macmillan, Basingstoke.Canadian Democracy and Corporate Accountability Commission, 2001, An Overview of Issues.Carnegie A. 1933 The Gospel of Wealth, Garden City.Carroll A. B. 1982 A Three-Dimensinal Conceptual Model of Corporate Perfomance, [in:] W. R. Allen, L. K. Bragaw, Social Forces and the Manager. Readings and Cases, John Wiley& Sons, New York (et al.).Cooper T., Ludlow M., Clift T. 2012 Examining the Role of Eco-Labels in Changing the Approach to Sustainability in the Commercial Fisheries, Greener Management Interna-tional, Issue 57.Dočekalová M., Straková J. 2011 The Influence of the Eco-Labelling on Consumer Behavior in the Czech Republic and Slovakia, “Economics and Management”, 16.Electronic document, access mode: [file:///C:/Users/Enigma/Downloads/COM_2013_196_PL_ACTE_f.pdf, retrieved: 14.10. 2014].Electronic document, access mode: [http://ec.europa.eu/public_opinion/flash/fl_367_sum_en.pdf, retrived: 11.10.2014].Electronic document, access mode: [http://ecodialog.pl/sites/default/files/discovering_iso_26000PL.pdf, retrieved: 15.10.2014].Electronic document, access mode: [http://www.26k-estimation.com/html/user_ guides_iso_26000.html#user-guides, retrieved: 15.10.2014].Electronic document, access mode: [http://www.europarl.europa.eu/RegData/docs_ autres_institutions/commission_europeenne/swd/2013/0112/COM_SWD(2013)0112_PL.pdf, retrieved; 10.10. 2014].Electronic document, access mode: [http://www.pkn.pl/iso-26000, retrieved: 15.10.2014].Electronic document, access mode: [https://www.iisd.org/business/markets/eco_label_ benefits.aspx, retrieved: 18.09.2104].Electronic document, access mode: [https://www.mos.gov.pl/g2/big/2012_11/037ac15934792054904ccafce588677c.pdf, retrieved: 16.10.2014].Gallastegui I. G. 2012 The Use of Eco-labels: A Review of the Literature, “European Environment”, No. 12.Hancock R., Korsten P., Pohle G. 2003 On Demand Business: the New AGENDA FOR Value Creation, An IBM Institute for Business Value Futures Series, [in:] P. Banaszyk, Zmienność zarządzania strategicznego przedsiębiorstwem, Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu, Poznań 2011.OECD 1997 Eco-Labelling: Actual Effects of Selected Programmes, Organisation For Economic Co-Operation And Development, Paris.Thogersen J. 2000 Psychological Determinants of Paying Attention to Eco-Labels in Purchase Decisions: Model Development and Multinational Validation, “Journal of Consumer Policy” 23.179-1925(77)17919

International Framework for Liquidity Risk Measurement,Standards and Monitoring:Corporate Governance and Internal Controls

This paper is structured in accordance with identified components which are considered to be essential to the successful implementation of the (two fold) topics of discussion of this paper, namely, monitoring and liquidity risk measurements. The importance of successfully communicating results obtained from monitoring and measuring such risks, and the role of corporate governance in ensuring such effective communication, constitutes a recurring theme throughout this paper. The identified components are as follows: i) Corporate governance (ii) Internal controls (iii) Disclosure (iv) Management of risk (v) Substance over form (vi) Transparency As well as highlighting the interdependence of these components, the paper also aims to accentuate the importance of individual components. Whilst no hierarchy of importance is assigned to these components, corporate governance and internal controls are two components which are analysed in greater depth (than other components). Furthermore, corporate governance could be accorded a status of greater importance than internal controls having regard to the fact that whilst internal controls relate to a very vital control aspect of an organisation, corporate governance relates to all processes – be it decision making, control, production, performance, within a company/bank. The paper will also attempt to demonstrate that it is possible to implement a system of regulation which combines increased formalised procedures and/or detailed rules - whilst giving due consideration to the substance of transaction

The dynamics of corporate governance in South Africa: broad based black economic empowerment and the enhancement of good corporate governance principles

This paper illustrates the effect of BBBEE on good corporate governance. Corporate governance and specifically directors’ duties relating to stakeholder protection are focused on. Traditionally, directors are expected to manage a company in the best interests of the shareholders collectively. The question arises as to whether directors should also consider the interests of other stakeholders, inter alia employees, creditors, the environment and the community. The South African Broad Based Black Economic Empowerment Act 53 of 2003, not only aims at correcting racial imbalances, but also strives to promote social investment and the empowerment of communities. By adhering to this act, directors will by implication consider the interests of the community and give effect to the triple-bottom line approach when managing a company. This paper will illustrate the unique dynamics of corporate governance in South Africa