EDITORIAL
Volume 18, Issue 1, 2023
1. Pricing Management
-Fernando Kevin Vince
What to charge for a product or service is a difficult decision. charge too little, and the business will not be viable. charge too much and customers will go elsewhere. Costs need to be covered, and the price needs to be favourably comparable with offerings from other companies, taking into account quality standards and other factors in the whole package. It is too complex and variable to rely on generic guidelines published without reference to the specific conditions of one company. This paper provides a table giving the dimensions to consider, with space to describe current practice and opportunities for improvements. This can help in creating a tailormade pricing policy.
2. Stakeholder Value Management for Successful Digital Business Transformation
- Graham Joseph Ng & KC Chan
Complete digital transformation goes beyond updating software. It involves complete management of technology in a culture of innovation and continuous agility in how to do things. Transformation can come as a shock, and throughout the process concern must be shown for stakeholders. Stakeholders range from those with an individual interest, such as customers and employees, to global level, following international law and maintaining green standards. The differing needs need to be fulfilled, to maintain loyalty and uphold ethical standards. This needs a plan that will also nurture the benefits of digital transformation. This paper discusses the way forward, and how to keep everyone engaged through a process of major change.
3. The Impact of Covid-19 on the Oil and Gas Industry in Sarawak: Employee Engagement, Transformational Leadership and Workload on Employee Performance
-Lue Ik Kiong & Ian Mackechnie
One of the many effects of the pandemic is to increase the numbers working from home. This reduces time spent commuting, and allows more flexibility. But it can only work if there is mutual trust between employer and employee. Working from home can be isolating, and. Employee engagement is even more important than when the workforce is together in one place. There can be a vicious circle where employees feel disengaged and leave, demoralising those who remain, leading to more leaving. To avoid this, there needs to be two-way trust between employers and employees. Both sides need to be transparent and flexible in order to work out how employees arrange their work to achieve objectives.
Since this paper was written, the oil and gas industry are facing gargantuan problems. The points in this paper have become even more important.
4. Intrinsic Factors Influencing Job Motivation of Employees: A Literature Review and Case Study on THKL, a Five-Star Hotel in Kuala Lumpur, Malaysia
- Neetu Harkishindas Binwani
Some businesses seem to focus on profit at the expense of all other considerations, such as motivating the workforce to want to succeed in their jobs, thereby ensuring the success of the organisation. Bosses who think workers should work hard simply because they are being paid, lose opportunities to create a unified workforce who regard the organisation's goals as personal goals as well. Pay is important up to a point, but there are intrinsic motivators that have more effect on the level of work. In sum, these are factors that make people want to complete the work at a high level – feelings of purpose and relatedness that make it worthwhile, along with autonomy and the satisfaction of competence. The alternative is a bored workforce who do the minimum required, and that reduces profit.
5. Trust in Government and Tax Authority on Factors Affecting Compliance Behaviour of Business Taxpayers in Malaysia
- Rizduan Bin Johari & Ern Chen Loo
Taxation gives an income to the government to provide necessary infrastructure that benefits everyone, such as health, defence, and other public services. As the link between paying the tax bill to gaining the benefit is indirect it may seem to taxpayers that they get nothing in return. They may see evasion as their right, but it is clearly a crime. From the point of view of the authorities there are two ways of dealing with this, coercion with penalties for non-compliance, and support to help taxpayers get it right. Tax socialisation is a policy that makes information about tax available by various means of publication, such as booklets, websites and general advertising. On a more personal level, a tax expert can give advice about the specific circumstances of the client. On a more general level, it is helpful if public figures can set a good example, and present the case for paying promptly as required, and the benefits that come from a healthy tax system.
6. Effectiveness of Training & Development on Employees' Performance and Engagement in their Work: A Literature Review
- Jayabaal Padmanathan
Vast sums of money are spent on training and development, in the belief that it will be effective. This literature review looks at underlying theories. There is a general theme that mutual benefit for learners and the organisation will lead to better results. Employees who are engaged in their work will learn from experiences they have, and this can be cemented with training of various types. Being engaged with their job also implies that they are engaged with organisational goals. Personal and organisational success will bring them job satisfaction, which makes it likely that they will stay and bring more success. Effective training is essential to maintain this. Rather than assume the chosen training will be effective, there needs to evaluation. This can start from discussions with the employee and keeping an eye on results. More formal evaluation can come from detailed analysis and exams to test employee skills. The organisation needs to assess which training and which evaluation methods best suit the organisation.
ARTICLE TOOLS
Editor's Message
- The International Professional Managers Review has been created to provide academics and practitioners a platform and a Journal for their exploration of new ideas, concepts, techniques and practice.
Our Journal aims to provide steady information about the latest theories and practices, right across the world. Recent issues have ranged from individual employability to global operations strategy, and having contributors from four continents.
Our aim is to achieve a high quality of contribution in the areas of management and business. However, we cannot be complacent. The world is changing, and there is always a need to assess and reassess, to try out new ideas, to discuss the results, and then assess again. For this we need to hear from people who are active in professional management, and in research. Theory and practice are interconnected, and we want to join up the gaps.
We are aiming for a mix of approach, including, interviews, case studies, research with conclusions, exploratory ideas, and student papers. Sometimes we will have a special edition, where different authors explore the same topic from different angles, testing different theories, views from different countries, and so on. This should lead to in-depth discussion, more thought, more research, more articles, and further advance in theory and practice.
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- The International Professional Managers Review has been created to provide academics and practitioners a platform and a Journal for their exploration of new ideas, concepts, techniques and practice.