Search results

Manufacturers seek to innovate and improve processes using new digital technologies. However, knowledge about these new technologies often resides outside a firm's boundaries. The authors draw on the concept of absorptive capacity and the literature on open innovation to explore the role of external search in the digitization of manufacturing.

The authors developed and distributed a survey to manufacturing firms in Switzerland, for which 151 complete responses were received from senior managers. The authors used multiple linear regressions to study the relations among the breadth and depth of external search, firms' adoption of digital technologies and operational performance outcomes.

External search depth was found to relate positively to higher adoption of computing technologies and shop floor connectivity technologies. No significant correlation was found between external search breadth and firms' adoption of digital technologies. Regarding performance outcomes, there is some evidence that increased adoption of digital technologies relates positively to higher volume flexibility, but not to increased production cost competitiveness.

Manufacturing firms that aim to digitize their processes can benefit from inbound open process innovation, but its utility varies for different clusters of digital technologies. Generally, the findings suggest that firms should build strong ties with a few external knowledge partners rather than surface relations with many.

This study contributes to the growing literature on the digitization of manufacturing with an analysis of the relation between firms' external search and their adoption of digital technologies. It adds early empirical insights to the literature on open process innovation.

Examines the relationship between organizational learning and product design management while, at the same time, analysing the repercussions they may have on performance, in the Spanish ceramic tile sector. A comparative case study of four companies from this sector enabled the construction of a theoretical model, which linked the factors that facilitate organizational learning, in the context of product design management, with the activities of this practice. In this model, 14 factors are seen as being essential to the existence of organizational learning and may be divided into two groups: one related to the activities that have to do with the conceptual‐analytical phase of the product design process, and the other linked to the activities related to the creative‐technical phase. All these factors are positively associated with efficient product design management and with improved business performance.

To identify transitional palliative care (TPC) interventions for older adults with non-malignant chronic diseases and complex conditions.

A systematic review of the literature was conducted. CINAHL, Cochrane Library, Embase and Pubmed databases were searched for studies reporting TPC interventions for older adults, published between 2002 and 2019. The Crowe Critical Appraisal Tool was used for quality appraisal.

A total of six studies were included. Outcomes related to TPC interventions were grouped into three categories: healthcare system-related outcomes (rehospitalisation, length of stay [LOS] and emergency department [ED] visits), patient-related outcomes and family/carer important outcomes. Overall, TPC interventions were associated with lower readmission rates and LOS, improved quality of life and better decision-making concerning hospice care among families. Outcomes for ED visits were unclear.

Positive outcomes related to healthcare services (including readmissions and LOS), patients (quality of life) and families (decision-making) were reported. However, the number of studies supporting the evidence were limited.

Studies examining the effectiveness of existing care models to support transitions for those in need of palliative care are limited. This systematic literature review identified and appraised interventions aimed at improving transitions to palliative care in older adults with advanced non-malignant diseases or frailty.

Product design is an essential aspect of the process of new product development and innovation, the efficiency of which depends on the existence of some kind of management. However, there is no generally accepted agreement as to exactly what activities this management involves, nor any analyses of the most suitable context for it to develop in or of the relationships that link these activities with performance. In this paper, we study product design management in depth and examine in what way and in which contexts it contributes to an improvement in performance. In order to do so, we carried out a case study of four companies from the Spanish ceramic tile sector that also revealed the activities of an efficient product design management. These were divided into two phases of the product design process: the analytical‐conceptual and the technical‐creative phases.

The purpose of this paper is to synthesise the plethora of research that has been conducted into the relationship between sustainability and market value in real estate, by critically analysing the research and the applicability of sustainability and value research in valuation practice.

The research on the relationship between sustainability and market value in real estate is examined from the perspective of its usefulness to the valuation profession in providing guidance, information and evidence to be used in valuation practice.

Existing research conducted into the relationship between sustainability and market value has not provided the valuation profession with evidence which would allow the incorporation of normative theories on the value of sustainability in valuation practice. This review highlights the lack of evidence, and the applicability of current research into sustainability and value to the valuation profession in providing guidance and information in valuing real estate incorporating sustainability.

This paper highlights the limited applicability of research to date in regard to the relationship between sustainability and market value for the valuation profession. The lack of historical evidence, data or information on the quantifiable effects on market value of this new trend (sustainability), leaves the valuation profession uncertain as to the relationship between sustainability and market value. There is a probable risk of valuers interpreting strategic research incorrectly, and making inappropriate adjustments or comparisons because of their lack of knowledge and limited sustainability assessment skills. Although there is an evolving body of knowledge, there is a need for extensive analysis of unbiased, evidence‐based research in individual and broader markets to provide guidance, evidence and knowledge of the implications of sustainability in the valuation of real estate.

The examination of research investigating the relationship between sustainability and value from a valuation perspective provides an alternative insight into the applicability of current research in valuation practice. The increasing profile and role of sustainability in the real estate sector needs to be addressed in valuation practice; however, the variety of research to date needs to be interpreted by valuers in the correct context. This paper brings to light the applicability of sustainability and value research for the broader valuation profession, and the potential implications of misuse or misunderstanding of that research.

The aims of this paper are to: provide a systematic overview of various publications and international research efforts undertaken to integrate sustainability considerations into the property valuation process; summarize the key results of these publications and research efforts; highlight the role of key valuation‐input variables in considering sustainability issues when applying traditional methods of valuing income‐producing properties; briefly present and comment on a broader concept of property value and the resulting implications for property valuation practice; and provide recommendations for change in the everyday practice of individual valuation professionals and for the future operation of professional organisations and valuation‐standard‐setting bodies.

This paper builds on the authors' previous contributions to the discussion on sustainability and valuation, presents advances on these previous works and condenses the more theoretical issues debated earlier into concrete recommendations for future action. Starting from a literature review of the different strands of research relating to the new discipline of sustainable property investment, 31 publications and ten research projects that investigate in detail the topic of sustainability and property valuation are identified and the current stage of discussion is briefly commented on. On this basis, a systematisation of existing approaches for the integration of sustainability issues into the valuation process is presented, followed by further explanations of practical valuation issues such as identifying the key “adjustment screws” or valuation input parameters of traditional valuation methods. Finally, the underlying concept of property value is discussed and a “value map” is presented which conceptualises the relationships between different components of value as well as other value‐influencing forces.

Changes are required in the processes of gathering, processing and presenting property‐related information, as well as in the methods for determining individual valuation‐input parameters and for explicitly stating formerly implicit assumptions and qualitative judgement. This includes but is not limited to the extension of the scope and informational content of standard valuation reports to include sensitivity analyses, risk documentation and a separate section on sustainability. The required changes should be supported by actions that could be undertaken by the professional and valuation‐standard‐setting bodies and organisations within the valuation world. These actions include: embracing and improved marketing of the qualitative nature of the valuation service; the development of educational material and formal guidelines; the provision of dedicated market research to assist valuation practitioners operating in different market segments, geographic regions and local sub‐markets; and adjusting and further developing existing valuation standards to enable and support individual practitioners in offering a two‐tier valuation service to clients.

This paper proposes that valuation professionals and their professional bodies are confronted with a new reality of changing value perceptions and systems among market participants, and offers practical recommendations on how to cope with this situation.

The purpose of this paper is to report on the findings of a survey conducted by the Royal Institution of Chartered Surveyors (RICS) to discuss the extent to which qualified valuers have adapted their valuation practices in the light of guidance published by RICS in respect of sustainability and commercial property. The findings are placed within a wider debate between assessment of market value and investment value (worth).

The paper is a theoretical discussion incorporating the results from an empirical survey of valuation practitioners.

The paper reveals that guidance published by RICS in 2011 has achieved limited, but variable, impact in terms of impacting on valuation practice due to a combination of factors including lack of knowledge of the guidance, non-requirement of clients to request sustainability reporting within valuations, paucity of data. It found that where worth (investment value) is required, sustainability factors are more likely to impact the calculation than where an estimate of market value is prepared. The paper identifies theoretical problems and practical barriers hindering an integration of sustainability aspects into valuation practice.

The empirical work was conducted prior to the embedding of guidance within the mandatory provisions of the “Red Book”; the study therefore reports on a direction of travel rather than the current position. The implications for research are the requirement to enhance data capture and to seek ways to break down the barriers to more comprehensive integration of such data so that worth and market values may begin to converge.

The paper has practical implications for both the education of valuers which is proposed through the RenoValue project discussed in the paper and for the RICS in monitoring progress towards more specific integration within valuers’ calculations. Further, the paper identifies that clients and lenders have a key role to play through the instructions given to valuers.

There is now widespread recognition that properties which are not resource efficient and which are not equipped to flex to changing occupier needs may not currently be “future proofed” in investment value terms and are likely to see value erosion over time. Further, buildings have a key role in terms of climate change policy. Whilst new buildings can be mandated to meet improved efficiency standards, the ways in which buildings owners can be encouraged to upgrade will be important moving forward. One way is through a value chain response.

The survey is the most comprehensive investigation of valuer’s practice in relation to sustainability and the assessment of market value and worth undertaken. This provides a unique insight into the effectiveness of professional guidance and enables an informed discussion as to appropriate ways to enhance guidance moving forward.

Broad‐scale investment in sustainability is limited due to the lack of evidence of the relationship between sustainability and the property's market value. Although evidence is amassing and being analyzed through advanced modeling, this evidence is not being reflected in the valuation process. Valuers have a pivotal role in financial markets, in the reporting of asset values. Consequently, they are the current barrier in large‐scale investment in sustainability, due to their lack of reporting or consideration of sustainability in the valuation process. This paper seeks to address these issues.

This research investigates, in the Australian context, whether valuers are incorporating sustainability as a consideration in the valuation process and their depth of reporting on it. Further, the research investigates whether valuers have the knowledge and skills to accurately report on sustainability in the valuation process. This research used an online survey to gather responses from valuers around Australia, using a combination of structured and semi‐structured questions.

This paper has identified that valuers are identifying a value relationship between sustainability and market value, and clearly emphasizing that they are not the barrier to this relationship from a lack of inclusion in valuation practice. However, what this research has identified is that, although valuers are acknowledging sustainability in their practice, they may be inhibiting further investment in sustainability due to inaccurate or misjudged assessments of sustainability in valuations.

The research highlights the implications for the broader market and the valuation profession, as a result of the valuers' current lack of knowledge, skills and ability to incorporate or consider sustainability in the valuation process. The potential for inaccurate knowledge regarding sustainability being incorporated in the valuation process is very high, and could potentially have litigious issues in the future.

The research has highlighted that, although valuers are beginning to consider sustainability at some level in the valuation process, their current knowledge of sustainability and its implications for long‐term viability is limited and in some cases grossly inaccurate. Consequently, this research has identified there is an imperative requirement for investigation into appropriate, accurate knowledge development in the field of sustainability for the valuation profession.

The importance of sustainability in the property industry is well recognised, and many studies have proved the existence of sustainability premiums in real estate markets. Valuers play the most pivotal role in reflecting the market, however despite the efforts of both academic and professional bodies to improve valuer knowledge and perceptions of sustainability there remains significant limitation of consideration of sustainability in valuation within the profession. The purpose of this paper is to investigate valuation practice through examining institutional grade commercial valuers’ approaches and consideration of sustainability in valuation.

This research used a case study approach and interviewed institutional grade commercial valuers in Melbourne, Australia, exploring their consideration of sustainability in their valuation reports for commercial properties. A semi-structured interview technique was utilised with responses using qualitative content analysis that investigated the processes used, knowledge and incorporation of sustainability in valuation practice.

The study has found substantial limitations in the incorporation of sustainability in property valuation in Melbourne’s real estate market, comprising valuers’ limited knowledge, reluctance to consider sustainability in the valuation process, poor verification or investigation of sustainability considerations, client instructions did not direct valuers to consider sustainability, lack of data and limited tools for detailed analysis.

Although a small sample, the data redundancy found in this research suggests a level of consensus on certain aspects of practice within the sector in Melbourne. This corroborates similar findings from a large-scale study of valuers and property professionals in Europe and the UK (Michl et al. 2016).

There is urgent need for more education and direction in the consideration and incorporation of sustainability in valuation for valuers. Enhancing the enforcement of guidelines from professional bodies is also crucial in order to deepen the analysis of sustainability in property valuation.

The research has provided an in-depth perspective of valuation practice in the commercial sector, that identifies and expands on the barriers in regard to limited incorporation of sustainability in property valuation reports, physical reporting, comparative analysis and depth of discussion. Further, it highlights the limited consideration of guidance notes in regard to sustainability from professional bodies.

The current debate between two theoretical approaches in library and information science and knowledge organization (KO), the cognitive one and the sociological one, is addressed in view of their possible integration in a more general model. The paper aims to discuss these issues.

Personal knowledge of individual users, as focused in the cognitive approach, and social production and use of knowledge, as focused in the sociological approach, are reconnected to the theory of levels of reality, particularly in the versions of Nicolai Hartmann and Karl R. Popper (three worlds). The notions of artefact and mentefact, as proposed in anthropological literature and applied in some KO systems, are also examined as further contributions to the generalized framework. Some criticisms to these models are reviewed and discussed.

Both the cognitive approach and the sociological approach, if taken in isolation, prove to be cases of philosophical monism as they emphasize a single level over the others. On the other hand, each of them can be considered as a component of a pluralist ontology and epistemology, where individual minds and social communities are but two successive levels in knowledge production and use, and are followed by a further level of “objectivated spirit”; this can in turn be analyzed into artefacts and mentefacts. While all these levels are relevant to information science, mentefacts and their properties are its most peculiar objects of study, which make it distinct from such other disciplines as psychology and sociology.

This analysis shows how existing approaches can benefit from additional notions contributed by levels theory, to develop more complete and accurate models of information and knowledge phenomena.