scholarly journals Development of a Model Linking Physical Asset Management to Sustainability Performance: An Empirical Research

2018 ◽  
Vol 10 (12) ◽  
pp. 4759 ◽  
Author(s):  
Damjan Maletič ◽  
Matjaž Maletič ◽  
Basim Al-Najjar ◽  
Boštjan Gomišček
Keyword(s):  
Asset Management ◽  
Social Performance ◽  
Performance Outcomes ◽  
Future Research ◽  
Path Modeling ◽  
Sustainability Performance ◽  
Policy And Strategy ◽  
Managerial Implications ◽  
Physical Assets ◽  
Physical Asset

This article is aimed at exploring the relationship between physical asset management (PAM) practices and sustainability performance. A framework of interrelated constructs was developed based on the existing literature and consequently tested through empirical study. Survey data were collected from organizations operating in six European countries (i.e., Greece, Poland, Slovakia, Slovenia, Sweden, and Turkey) and analyzed using Partial Least Squares Path Modeling (PLS-PM). The results offer support for the proposed hypotheses, showing that PAM practices positively influence the sustainability performance outcomes, namely economic, environmental, and employee-related social performance. Overall, this study demonstrates that a PAM framework can be conceptualized by four sub-constructs, namely physical asset risk management, physical asset performance assessment, physical asset lifecycle management, and physical asset policy and strategy. Finally, this study brings to light some theoretical and managerial implications as well as directions for future research. The findings of the study underscore PAM areas in which managers should focus on in order to optimize costs, performance, and risk exposures concerning the physical assets, and therefore enhance sustainability performance.

scholarly journals The Link Between Asset Risk Management and Maintenance Performance: A Study of Industrial Manufacturing Companies

2020 ◽  
Vol 24 (3) ◽  
pp. 50
Author(s):  
Damjan Maletič ◽  
Hana Pačaiová ◽  
Anna Nagyová ◽  
Matjaž Maletič
Keyword(s):  
Risk Management ◽  
Asset Management ◽  
Management Practices ◽  
Structural Model ◽  
Performance Outcomes ◽  
Manufacturing Companies ◽  
Path Modeling ◽  
Asset Risk ◽  
Physical Asset ◽  
Maintenance Performance

<p><strong>Purpose: </strong>The purpose of this paper is to examine risk management practices and their impact on performance. Specifically, the study aimed to examine risk management practices as part of physical asset management and their impact on maintenance management and its performance.</p><p><strong>Methodology/Approach: </strong>The empirical data were obtained from 76 manufacturing companies. Partial Least Squares Path Modeling (PLS-PM) was applied to evaluate the measurement and structural model.</p><p><strong>Findings: </strong>The results emphasized the importance of integrating risk management practices into asset management processes in order to improve performance outcomes.</p><p><strong>Research Limitation/Implication: </strong>This study contributes to a better understanding of how companies could achieve higher performance results by implementing risk management practices. The results of this study can help managers identify key asset risk management practices. Despite the important implications that can be derived from this study, further research that would extend the model to include additional performance measures and/or asset management dimensions would be of great importance.</p><strong>Originality/Value of paper: </strong>By analyzing the interrelationships between asset risk management practices and their direct and indirect effects on maintenance performance, the study provides important insights for the development of strategies to promote the novel and important discipline of asset management.

scholarly journals An Analysis of Physical Asset Management Core Practices and Their Influence on Operational Performance

2020 ◽  
Vol 12 (21) ◽  
pp. 9097
Author(s):  
Damjan Maletič ◽  
Matjaž Maletič ◽  
Basim Al-Najjar ◽  
Boštjan Gomišček
Keyword(s):  
Asset Management ◽  
Latent Variables ◽  
Empirical Studies ◽  
Theory And Practice ◽  
Operational Performance ◽  
Path Modeling ◽  
Core Practices ◽  
Order Construct ◽  
Physical Assets ◽  
Physical Asset

The commitment of organisations to physical assets management (PAM) has recently received considerable attention in theory and practice. Indeed, PAM plays a key role in asset-intensive organizations and is also considered as a principal actor within Industry 4.0. Therefore, this paper aims to examine the PAM core practices and the performance implications of integrating these practices into business, in particular by assessing their impact on operational performance. Survey data were collected from managers in 138 international and local organisations. The data was analysed using Partial Least Squares Path Modeling (PLS-PM). The study validates the second-order construct consisting of PAM latent variables, namely Strategy and Planning, Risk management, Lifecycle Delivery, Asset Information, and Asset Review. The results have shown that PAM core practices directly influence operational performance. This paper is a response to recent calls for empirical studies on the organisational approaches that can increase the success of organisations.

Assessing HRO Principles for Reliable Performance in Asset-Intensive Organizations

2019 ◽  
pp. 160-181 ◽  
Author(s):  
Jan-jaap Moerman ◽  
Jan Braaksma ◽  
Leo A. M. van Dongen
Keyword(s):  
Organizational Performance ◽  
Asset Management ◽  
Industrial Revolution ◽  
New Technologies ◽  
High Reliability ◽  
Management Measures ◽  
Reliable Performance ◽  
Tightly Coupled ◽  
Physical Assets ◽  
Physical Asset

Asset-intensive organizations rely on physical assets that are expensive, complex, and have a significant impact on organizational performance. The management of such assets is essential when seeking for reliable performance in a world of increasing uncertainties. The observation that asset-intensive organizations deal with increasingly complex and tightly coupled systems and often operate in highly demanding environments may indicate that they should adopt practices from high reliability organizations (HRO) to ensure and maintain reliable performance in the fourth industrial revolution. This chapter operationalizes the HRO concept in the field of physical asset management, measures to what extent the underlying principles are recognized, and explores the relationship between the HRO principles and asset performance using a descriptive survey. Results indicated that the HRO principles are recognized and may, therefore, serve as an instrument for reliable performance when adopting new technologies. A positive relation between asset performance and the five HRO principles was identified.

scholarly journals Achieving Corporate Sustainability: Toward a Practical Theory

2019 ◽  
Vol 11 (15) ◽  
pp. 4155 ◽  
Author(s):  
Sooksan Kantabutra
Keyword(s):  
Corporate Sustainability ◽  
Empirical Literature ◽  
Future Research ◽  
Sustainability Performance ◽  
Corporate Sustainability Performance ◽  
Sustainability Research ◽  
Framework Approach ◽  
Managerial Implications ◽  
Future Research Directions ◽  
Future Theory

The present study aims at exploring processual relationships between corporate sustainability predictors and sustainability performance, as informed by the Thai philosophy of Sufficiency Economy, and accordingly proposes a theory of corporate sustainability to fill in the fundamental gap in the literature. Based on a framework derived from the literature, multi-data collection methods and the framework approach to qualitative data analysis are adopted to explore the relationships at a sustainable enterprise in Thailand. Findings reveal six processual relationships leading to improving corporate sustainability performance directly and indirectly. Grounded upon seven established theories, the existing empirical literature and the findings of the present study, a coherent theory of corporate sustainability is developed to inform future theory building and guide future corporate sustainability research. Managerial implications and future research directions are discussed.

Presenting the model in improving maintenance and excellence in organizational culture and reliability in Iran tile and ceramic industries

2019 ◽  
Vol 26 (3) ◽  
pp. 369-382
Author(s):  
Alireza Pezeshkian ◽  
Naser Hamidi
Keyword(s):  
Organizational Culture ◽  
Asset Management ◽  
Structural Model ◽  
Paper Analysis ◽  
Added Value ◽  
Optimal Point ◽  
Content Type ◽  
Cultural Infrastructure ◽  
Physical Assets ◽  
Physical Asset

Purpose In order to increase productivity and create added value in ceramic and tile industries of Iran, the role of physical assets including machinery, equipment and utilities is very important in these industries, and management of those take an important role. Organizational culture and its role in physical asset management implementation are very important in the Iran ceramic and tile industries. In these industries, there is a secret force called culture, which must be changed if the organization wants to grow up and improve physical assets management. The purpose of this paper is to identify organizational cultural, technical and reliability variables and structure of these variables in form of a combined structural model. Design/methodology/approach In order to present a structural combination model, a development model type, the mixed research method is used, and expert’s comments are also used. This model was implemented at Apadana Ceram Company, and its results, in comparison with previous models on physical assets, have shown that consideration of four culture elements can be of great help to reach an optimal point in maintenance and excellence. Findings In this paper, analysis of previous research studies, project documents and expert’s opinions in ceramic and tile industries have been used. In the presented model, special attention has been paid to organizational culture and its four elements including values, patterns, rituals and procedures and cultural infrastructure in order to achieve excellence and reach an optimal point in maintenance. Also, governing structure between organizational culture and technical and reliability variables was nominated, which could help companies in physical asset management. Furthermore, eight components of change management were expressed, which are important in order to implement this model. Originality/value This model with special consideration of four culture elements can be of great help to industries to reach an optimal point in maintenance and excellence.

scholarly journals MULTIPLE-UNIT FRANCHISING AND PERFORMANCE OUTCOMES

2013 ◽  
Vol 14 (Supplement_1) ◽  
pp. S279-S312 ◽  
Author(s):  
Kelli Bodey ◽  
Scott Weaven ◽  
Debra Grace
Keyword(s):  
Research Direction ◽  
Performance Outcomes ◽  
Future Research ◽  
Governance Structures ◽  
Growth System ◽  
Managerial Implications ◽  
Wide Adaptation ◽  
Multiple Unit ◽  
And Performance ◽  
The Impact

The economic and social contribution of franchising is widely reported. Although, most studies have examined franchising from the single-unit typology, multiple-unit franchising is found to be a popular and pervasive retailing strategy throughout the world. Despite this, there is a paucity of prior research examining the factors influencing the achievement of the four franchising imperatives. This represents an important gapin the organizational choice literature. Therefore, this study empirically examines the impact of the four franchising imperatives (i.e. unit growth, system uniformity, local responsiveness and system wide adaptation) (Bradach 1995) upon franchise system operational performance across the four key governance structures (i.e. master franchising, area development franchising, area representative franchising and incremental franchising). Based on a sample of 347 Australian franchisors, the findings indicate that there are significant differences in the way in which three of the four imperatives (i.e. unit growth, system uniformity and system-wide adaptation) impact on performance across different governance structures. Practical and managerial implications and future research direction are discussed.

EXPRESS: An Emerging Theory of Avatar Marketing

2021 ◽  
pp. 002224292199458
Author(s):  
Fred Miao ◽  
Irina V. Kozlenkova ◽  
Haizhong Wang ◽  
Tao Xie ◽  
Robert W. Palmatier
Keyword(s):  
Performance Outcomes ◽  
Marketing Strategies ◽  
Future Research ◽  
Business Practices ◽  
Design Elements ◽  
Academic Literature ◽  
Conceptual Clarity ◽  
Managerial Implications ◽  
Purchase Likelihood ◽  
Research Propositions

Avatars are becoming increasingly popular in contemporary marketing strategies, but their effectiveness for achieving performance outcomes (e.g., purchase likelihood) varies widely in practice. Related academic literature is fragmented, lacking both definitional consistency and conceptual clarity. This article makes three main contributions to avatar theory and managerial practice. First, to address ambiguity with respect to its definition, this study identifies and critically evaluates key conceptual elements of the term avatar, offers a definition derived from this analysis, and provides a typology of avatars’ design elements. Second, the proposed 2 × 2 avatar taxonomy suggests that the alignment of an avatar’s form realism and behavioral realism, across different contingencies, provides a parsimonious explanation for avatar effectiveness. Third, the authors develop an emerging theory of avatar marketing, by triangulating insights from fundamental elements of avatars, a synthesis of extant research, and business practices. This framework integrates key theoretical insights, research propositions, and important managerial implications for this expanding area of marketing strategy. Lastly, the authors outline a research program to both test the propositions and insights as well as advance future research.

scholarly journals Optimizing the Life Cycle of Physical Assets – a Review

2020 ◽  
Vol 15 ◽  
Keyword(s):  
Life Cycle ◽  
Value Creation ◽  
Asset Management ◽  
Oil And Gas ◽  
Global Market ◽  
Gas Extraction ◽  
Global Vision ◽  
Life Cycle Optimization ◽  
Physical Assets ◽  
Physical Asset

Life cycle optimization has been a concern over decades; it has been clear that an asset well-kept will have a longer life with a higher return for the organization; this life cycle depends of several factors. The standard ISO 55001 defines a set of requirements that, when implemented and maintained, guarantee the good performance of an organization's asset management, responding to stakeholders need and expectations and ensuring the value creation and maintenance as well as a global vision of assets on the Optimizing the Life Cycle of Physical Assets. The organizations where physical asset management is of major importance include all those that involves facilities, machinery, buildings, roads and bridges, utilities, transportation industries, oil and gas extraction and processing, mining and mining processing, chemicals, manufacturing, distribution, aviation and defence. However, since ISO 55001 is a new standard in the global market, due to its necessity to involve all the organization its implementation becomes difficult; but, it is clear that an organization that certifies by the ISO 55001 is ahead on life cycle optimization because it is part of its requirements; so, what model of life cycle optimization to use? Is there anyone that fits on the ISO 55001? Can an existing one be adapted to be used according to ISO 55001 requirements? The approaches of this paper bring a literary review of life cycle models used in asset management and their major concerns, this is the beginning to build a model to optimize the life cycle of physical assets including the ISO 55001 perspective.

scholarly journals Physical Asset Management Practices And Quality Service Delivery In Local Governments In Mid North Sub-Region Of Uganda

2019 ◽  
Vol 1 (3) ◽  
pp. 73-79
Author(s):  
Peter Adoko Obicci
Keyword(s):  
Service Delivery ◽  
Asset Management ◽  
Local Governments ◽  
Management Practices ◽  
Quantitative Approach ◽  
Clear Understanding ◽  
Quality Service ◽  
Services Delivery ◽  
Physical Assets ◽  
Physical Asset

Purpose of the study: Amidst soaring use of excellent physical assets, there is a less clear understanding of their weight on service delivery. Drawing on the contention that quality services delivery relies on excellent physical assets, the study aimed to establish how physical asset management practices affect quality service delivery in local governments in the mid-north sub-region of Uganda. Methodology: The study used a cross-sectional design with a quantitative approach. A sample of 131 respondents was targeted and obtained using simple random and purposive sampling of physical asset managers in local governments. Collected data using a self-administered questionnaire was analyzed quantitatively (descriptive and inferential statistics) using Statistical Program for Social Scientists (SPSS Ver. 23). Main Findings: Findings revealed that there was a positive correlation between physical asset management practices (rho.506) and quality service delivery. Accordingly, it was concluded that physical asset management practices, measured in terms of lifecycle planning, risk management, information management and performance management significantly affected quality service delivery in local governments in the mid-north sub-region of Uganda. Research limitations/implications: The study used a quantitative approach in two local governments with probable missed out on qualitative aspects aside difficulty in generalizability. However, it enlightens theoreticians and practitioners in ensuring proper execution of physical asset management practices in engineering, infrastructure, estate, finance and above all public procurement; for the provision of quality services desired and expected by the different stakeholders. Novelty/Originality of this study: This study parallels those in developed countries which reveal that success in quality service delivery is a result of using excellent physical assets. However, in developing countries studies are nearly nonexistent. Essentially, there is a paucity of research addressing the subject creating a need to study and systematically document elevation of delivery of quality services using excellent physical assets. 

Sign in / Sign up

Export Citation Format

Share Document