MARTIN AVIS and VIRGINIA GIBSON
In the first of this pair of articles we set out the broad problems and components of time‐share (TS) valuation and talked in general terms of the use of DCF techniques that might…
Abstract
In the first of this pair of articles we set out the broad problems and components of time‐share (TS) valuation and talked in general terms of the use of DCF techniques that might more realistically incorporate the risks involved in TS from a purchaser's point of view. This second article includes a worked example using first an ‘optimistic single‐point best estimate DCF’ and then a DCF which incorporates a range of values for each of the main variables, using random selection, finally forming a distribution of the 500 valuations actually run.
MARTIN AVIS and VIRGINIA GIBSON
A second paper, providing an illustrative valuation, will appear in volume 2 of Journal of Valuation.
Examines the issue of the quality of property asset management.Discusses recent studies on property management quality and theirfindings. Considers the role of computer…
Abstract
Examines the issue of the quality of property asset management. Discusses recent studies on property management quality and their findings. Considers the role of computer information, functional performance, property costs, monitoring the use of space, strategic planning, the use of consultants, and pragmatic approaches to property management that emerged from the studies. Also looks at reactive management and the problem of lack of data and performance measures. Finally, offers a framework for quality property management.
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There are two principal elements to consider in relation to the strategic management of any organisation's surplus property. The first is the process by which the property is…
Abstract
There are two principal elements to consider in relation to the strategic management of any organisation's surplus property. The first is the process by which the property is identified and declared surplus and the second is the procedure for managing such property effectively until disposal finally takes place. This paper is based on the research undertaken to consider: the key characteristics of good “strategic” management of surplus property; how other bodies (private and public) have improved their strategic management of surplus properties in the recent past; how the proposals in “Sold on Health” appear to meet good practice; and any lessons that can be learnt by the National Health Service from this work.
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Stuart Grain and Philip Leverton
Considers a number of issues relating to the problem of promotingan ethos of research among the property management profession. Discussesthe meaning and types of research. Argues…
Abstract
Considers a number of issues relating to the problem of promoting an ethos of research among the property management profession. Discusses the meaning and types of research. Argues for a more positive approach to convincing the profession as a whole of the worth of research.
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Management is acknowledged as becoming increasingly important for firms of chartered surveyors (RICS, 1985), yet very little research has been undertaken in this area. In order to…
Abstract
Management is acknowledged as becoming increasingly important for firms of chartered surveyors (RICS, 1985), yet very little research has been undertaken in this area. In order to open up the debate, this paper examines the areas of valuation and information technology from a management perspective and demonstrates how both of these areas relate to the resource structure and the decision making process of the organisation. It concludes by stating that chartered surveyors must take a wider view of their business environment and package of services, and develop appropriate management plans in order to meet the demands of the increasingly competitive financial market.
Bayu Giri Prakosa, Danur Condro Guritno, Theresia Anindita, Mahrus Kurniawan and Ahmad Cahyo Nugroho
This study aims to analyze how ready a firm is to transform into Industry 4.0 using the Readiness Index (INDI 4.0) assessment. It also investigates the differences (before and…
Abstract
Purpose
This study aims to analyze how ready a firm is to transform into Industry 4.0 using the Readiness Index (INDI 4.0) assessment. It also investigates the differences (before and after) of the program “Making Indonesia 4.0” in 2018 in socioeconomic and demographic aspects.
Design/methodology/approach
The INDI 4.0 assessment involved a self-evaluation by 622 companies across 13 industry sectors, subsequently verified by the Ministry of Industry. This study incorporates discussions with industry experts to enhance the interpretation of the analytical findings.
Findings
This study explores the interrelation among the components of INDI 4.0 across different levels, assessing the readiness of each sector for Industry 4.0. The findings reveal the diverse impact of implementing Industry 4.0 in Indonesia on socioeconomic and demographic aspects. Furthermore, the study proposes several policy recommendations for the Indonesian government’s consideration.
Research limitations/implications
This study’s scope is confined to the industrial context of Indonesia, as the assessment components are tailored to the specific characteristics and culture of the country’s industry. Subsequent research endeavors can leverage this study as a foundational reference, adapting the components to align with the particular interests of other nations.
Practical implications
Businesses, especially those in Indonesia, can employ these findings to evaluate their position in the context of Industry 4.0 transformation compared to their industry. Simultaneously, the Indonesian government can use these results as a starting point to evaluate and potentially enhance their policies related to Industry 4.0. We recommend five policy proposals for the Indonesian government: diversifying measurement models, shifting terminology, emphasizing soft skills, promoting continuous learning and implementing Center of Digital Industry Indonesia 4.0 (PIDI 4.0) initiatives.
Social implications
This study offers a broad impact of Industry 4.0 implementation in socioeconomic and demographic aspects in Indonesia, such as income, job-shifting, age, educational background and gender.
Originality/value
To the best of our knowledge, no prior research has explored the repercussions of industrial implementation on socioeconomic and demographic facets.
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Takes Avis as a case example of a company which has empowered its employees to take ownership of customer service by developing high levels of competence, combining knowledge and…
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Takes Avis as a case example of a company which has empowered its employees to take ownership of customer service by developing high levels of competence, combining knowledge and skill; understanding one’s role in achieving company goals; and responsibility and authority. Looks at Avis’s comprehensive training and development programmes and explains the importance of developing “cathedral” vision. Details six key organization and management processes aligned to the strategy of customer retention through empowerment ‐ goals, practices, rewards, expectation, feedback and modelling ‐ as key to Avis’ success.
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The object of this research is the reconstruction of the existing legal response by European Union states to the phenomenon of immigration. It seeks to analyse the process of…
Abstract
Purpose
The object of this research is the reconstruction of the existing legal response by European Union states to the phenomenon of immigration. It seeks to analyse the process of conferral of protection.
Design/methodology/approach
One main dimension is selected and discussed: the case law of the national courts. The study focuses on the legal status of immigrants resulting from the intervention of these national courts.
Findings
The research shows that although the courts have conferred an increasing protection on immigrants, this has not challenged the fundamental principle of the sovereignty of the states to decide, according to their discretionary prerogatives, which immigrants are allowed to enter and stay in their territories. Notwithstanding the differences in the general constitutional and legal structures, the research also shows that the courts of the three countries considered – France, Germany and Spain – have progressively moved towards converging solutions in protecting immigrants.
Originality/value
The research contributes to a better understanding of the different legal orders analysed.
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This paper aims to describe the nature and significance of Sorel’s cooking appliance and to examine the promotion and marketing options used by Sorel to make it an appliance that…
Abstract
Purpose
This paper aims to describe the nature and significance of Sorel’s cooking appliance and to examine the promotion and marketing options used by Sorel to make it an appliance that was “widely used in private residences and by small eating houses.” It will highlight the role of the individual and will demonstrate that marketing and promotion strategies that are modulated by the social ambitions of the manufacturer.
Design/methodology/approach
The basis of this research is extensive quantitative and qualitative analysis of primary sources, mainly the advertisements placed by Sorel, supported by information in contemporary newspapers and journals.
Findings
Stanislas Sorel’s invention of an early form of thermostat allowed him to develop a stove that could cook a four-course family dinner largely unsupervised, an invention which was poised to revolutionise the lives of many households. Sorel was primarily an inventor striving for acceptance in the scientific world, with limited skills in the commercialisation of his inventions. His promotion and marketing efforts reflect both the social realities of the time and his own ambitions.
Originality/value
There has been very little research into the way small French inventors and manufacturers approached the marketing of their products. The paper provides a unique insight into the promotion techniques of a mid-nineteenth-century French inventor-cum-entrepreneur and highlights the role of the individual and how actions are constrained by ambition and opportunity. The paper provides an example of how research into how specific individuals can inform the larger history of marketing.