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A life‐cycle audit is a multifaceted tool which helps facilities managers achieve a variety of goals. A life‐cycle audit produces a comprehensive, detailed summary of immediate facilities needs. It also helps facilities managers forecast their needs 20 years into the future, and it helps them make a much more persuasive case for facilities reinvestment. As such, it is a compelling, cost‐effective alternative to traditional facilities inspections.

Discounted cash flow (DCF), whether by capitalisation or by cash flow analysis, has many detractors because of a number of apparent problems such as the reinvestment assumption and the possibility of multiple rates of return. The capital recovery cum reinvestment aspects of Years' Purchase (YP) factors and DCF are discussed and it is demonstrated that Years' Purchase single rate principle is akin to Internal Rate of Return (IRR) and that Years' Purchase dual rate principle also has a DCF image known as the Modified Internal Rate of Return (MIRR). The difference between the YP models and the DCF models is to do with the level cash flows assumed in the former and the variability of the cash flows measured in the latter. MIRR was developed as an answer to the above problems and it is demonstrated in a case study in which the fallacy of the apparent problems is also demonstrated. MIRR has a place in the analysis of investment strategy, but IRR (equated yield) is shown to be satisfactory in the financial analysis and comparison of individual projects.

The purpose of this case study is to examine the impact of regional culture and family dynamics on firm survival and longevity. Secondary issues include operations management in a retail grocery, hardware, and building supply store.

The author performed in‐depth qualitative interviews with the business owners and visited on site. The tape‐recorded interviews followed a formal list of questions, but were semi‐structured in nature.

Although the store was remotely located, wise management and intelligent leadership have contributed to business success and survival into the fourth generation of family ownership.

As an exploratory qualitative case study, there are limitations concerning generalizability. Additionally, the findings here relate particularly to small family businesses.

Family firms possess a business side and a family side. In this case, success factors on the business side included merchandising skills, responsiveness to customer needs, profitable sales margins, and reinvestment in facilities. On the family side, success factors included harmonious relations among family members, the incumbent leaders’ desire for succession to occur, incumbent leaders’ financial forbearance or sacrifice, solid education of successors, mentoring of the next generation, and willing and able successors.

This case analyzed characteristics that lead to long term survival, examined the process of succession, and assessed the two‐sided nature – business side and family side – of a small family business.

Three‐hundred‐and‐fifty‐nine of the world′s largest MNCs were surveyed to determine signficant conflict areas. The findings are summarised in terms of ownership entry modes, nationality and age of MNC and pointers for MNC management and firms contemplating internationalisation are suggested.

The purpose of this paper is to identify key performance indicators (KPIs) and categorize them based on specific aspects of facility performance measurement in order to facilitate a holistic performance assessment.

A qualitative approach, based on the literature, is adopted. This approach relies on an extensive literature search of extant research papers, assessment reports, surveys and presentations to identify KPIs. The KPIs are arranged in appropriate categories based on their purpose and content.

The paper identifies indicators for performance measurement and classifies them into four major categories: financial, physical, functional, and survey‐based. Indicators are arranged from general to the most specific indicators. The list presents indicators with their description, units of measurement, and literature sources.

Future research could focus on further analysis of the list of KPIs in order to generate a more concise list of easily measurable indicators that exhibit wide applicability and valid categorization.

The lack of proper categorization hampers frequent and widespread use of performance metrics by the industry. This study proposes a list of KPIs and presents it in appropriate categories so it can be used more practically by facility management practitioners.

The list of KPIs generated covers aspects of facility performance assessment and shows wider applicability; thus, it could be utilized by practitioners for a holistic assessment of a wide range of facilities.

Examines marketing techniques used by British non‐profit organisations. Defines public sector and voluntary sector non‐profit organisation. Outlines the difficulties encountered in defining the marketing process in non‐profit organisations compared with normal business operations. Highlights four main areas of marketing for non‐profit organisations – research, promotion, pricing and distribution. Concludes that the non‐profit sector includes a number of organisations where ownership, structure and objectives do not correspond to the traditional model of business organisations. Affirms that British authors should view these dissimilarities as an opportunity to develop the marketing concept, marketing and marketing management in a much wider context than that of business marketing.

Mergers and acquisitions and consolidation activities contribute to the supply of technical facilities in the real estate market. The disposal of these special‐purpose assets poses unique challenges, including financial risk, redeployment of highly trained workforces and specialised equipment, and unknown timeframes. This paper will set out to take a deeper look into the internal corporate rationalisation process and the challenges and issues inherent in the disposal of special purpose assets.

To explain the SEC’s historical focus on the calculation of investment performance and to highlight important issues for fund sponsors in the future.

This article discusses the SEC’s recent subpoena of at least one fund sponsor for information related to the firm’s practices in calculating internal rates of return and then explains the history of SEC enforcement in this area.

The SEC continues to be focused on how fund sponsors calculate investment performance metrics, such as IRRs, and the related disclosure.

This article contains valuable information for fund sponsors, such as best practices for valuation methods and related investment performance disclosures, including the calculation of IRRs from experienced investment fund lawyers.

This piece is a republished autobiography of Alfred D. Chandler, Jr.

Chandler reflects on his life and career as a management historian.

Chandler reflects on his life and career, in particular how he came to write Strategy and Structure and its impact on him as a historian. He also discusses his life at Harvard Business School, the editing of the Roosevelt letters, and the writing of The Visible Hand.

This is excellent background material for the other papers in the issue, as well as a valuable personal insight into Chandler's own thinking.