Friday, 19 August 2016

International Journal


INTERNATIONAL JOURNAL OF RECENT SCIENTIFIC RESEARCH
ISSN No: 0976-3031
 International Index Journal and Fast Publication
 [SJIF Impact Factor: 5.971]


Dear Colleague(s)

We are pleased to inform you that International Journal of Recent Scientific Research is going to launch its next issue i.e. Volume 7, Issue 8, August 2016.

We would like to invite you to contribute a Research Paper for publication in IJRSR.

IJRSR is an open access journal, basically, the aim of this journal to promote the new Innovative ideas in all fields of Life Sciences, Physical Sciences and Engineering, Health Sciences, Social Science and Humanities, Computer Science.

Kindly support this journal by sending your manuscript to us at http://recentscientific.com/submit-articleor recentscientific2016@gmail.com.

Frequency: 12 Issues per Year
Accepted Language: English
Areas Covered: Multidisciplinary

IJRSR will cover all areas of the subject. The journal welcomes the submission of manuscripts that meet the general criteria of significance and scientific excellence, and will publish:

Original articles in basic and applied research, Case Reports, Critical reviews, surveys, opinions, Short communication, commentaries and essays, Letter to the editor etc.
Regards
The Editor
INTERNATIONAL JOURNAL OF RECENT SCIENTIFIC RESEARCH

Thursday, 18 August 2016

Construction Joint Venture

1.0  Introduction
Construction Joint Ventures (CJVs) being defined as two or more parent organisations committed to achieve its objective collaboratively by financing or sharing its resources in technology knowledge and know-how to undertake specialized or mega projects.

Unfortunately there has been studies commented that joint venture companies have high percentage of failure rate varying from 61% within 5 years upon incorporation to as high as 70% within two years after incorporation (cited by Ekanayake, 2013).

The following factors elaborate the reasons that cause failure of Construction Joint Ventures.

2.0  Causes of joint venture failures

2.1.   Disagreement in management culture

The most crucial factor to the smooth operation of the CJVs is failure to understand and adapt to individual works culture. In depth discussion and mutual agreement on the structure of the joint venture organisation, tasks allocation and management guideline etc need to be finalised.

Lacking of mutual understanding results will prolong decision making, cross departmental interference in daily operations and output deficiency etc which normally ended with steep operational cost (Mo, Abdelnaser & Hamid, 2012).

For instance, Partner A’s management culture is likely to have a hierarchical organisation chart, employees adhere to the instructions from the superior, business decisions are made by taking into consideration of quality works and maintaining long-term relationship On the other hand, Partner B’s style of management is sluggish, quality works second and relationship with client is offensive and without care for long term relationship with repeated orders. In this situation, it will cause grievance to the other partner and therefore creating dissatisfaction and conflict towards each other.

2.2.   Unaligned objectives

The motive to joint venture may vary between companies which their objectives may be in financial gains, penetrating to new market, transfer technology skills, combine forces to promote confident in accomplishment of project, etc. It is important that CJVs share common goals as having a shared objective will strengthened relationships by heading towards the same objectives and goals.

During operational stage despite of having agreed on the common goals at the beginning of CJVs partnership, unaligned in objectives is likely to transpire due to different opinions. If partners do not take into consideration of realigning the objective, it is likely to cause confusion and misunderstanding thus leading to a split in relationship and even resulted into litigation matters.

2.3.   Share inequality

Before the incorporation of the CJV companies, both company would have agreed on the equity share which represents the percentage of ownership that each possessed. Generally, the predominant company will hold majority share (minimum 51%). The initial set up stage of CJVs might not have any disagreement as the operations of the CJVs has not commence. Once the business initiates, operations plan or strategies may require reassessment or improvement which is to be discussed and vote during the board meeting. Even though new strategies and better operation plans are proposed in the meeting room by the minority shareholder, it may not gain support from the majority shareholder which will affect overall profit.


2.4.   Lack of commitment

It is the responsibility of the partners to jointly commit themselves to drive the business to success. JVs partners are expected to commit themselves to provide their utmost performance to the allocated job functions. The slacking behaviour of partner in supporting the operations of the company will create the feeling of unfairness and eventually induce negativity that harms the spirit of JVs. For example, Company A management do not obey deadline or schedule which it contravenes with partner Company B management who strictly  meet deadline and adhere to complete projects ahead of schedules.


2.5.   Lack of trust

Trust is conceived as believing in the partner’s integrity and reliability. CJVs partners believe that the company is expected to deliver positive results with low risk and there must be no misuse of power to exploit its opportunism for own benefits (Dyer & Chu, 2000 cited by Nguyen & Liem, 2013).

Since both of the CJVs partners are risking themselves venturing in the business, lack of trust by either partner will cause difficulties in managing the business as doubtful mindset will trigger any misunderstandings by either one party.


2.6.   Conflict

Conflict arises due to the counterparts’ intention to strive and prove one’s superiority and better project operations over the other partner, therefore it is often unavoidable that both partners may dispute over trivial issues on management style and tasks allocation Sometimes conflict is unable to resolve due to uncompromised by either partner which causes grievance and unhappiness that can paralyse the operations of the joint venture company.



2.7.   Financial constraints

Failure to contribute and honour their respective financial commitment by either party will cause cash flow problems and resulted in poor performance and delay to hand over project within time stipulated. Most of the time, this leads to additional operation cost for longer construction period which diminish the expected profit or incurred losses. Consequently, continuous project delayed will aggravate to enormous losses compounded by compensation and legal suits by clients and stakeholders.


3.0  Conclusion
To form a successful CJVs, sincerely both partners have to take into consideration the factors as mentioned earlier.

Sustaining a joint venture relationship is an enduring process which every stage of the joint venture process needs to be handled with trust, understanding, tolerance and care. CJVs partners especially with different background in terms of work culture, management, implementation, execution and beliefs etc to achieve their main objectives. A positive attitude in collaboration by both companies would be much easier to drive to success, reason being partners are more willing to cooperate and contribute their knowledge, know-how and resources to the company. The good relationship between the companies eventually enforces ‘trust’ which requires exhaustive time to build. According to Khakhar & Rammal’s (2013) study, trust should be informally foster at the pre-negotiation stage or even before actual negotiation as creating personal relationship would lead to a cordial and trusting environment.


One practical method to weight the feasibility of starting a CJVs is to partnership for several ad-hoc project as trial. This will enable both parties to assess the coordination and the degree of mutual understanding, failing which the JV shall not be incorporated.

by LIM ENG HOCK (FD160024)


4.0  References List

Ekanayake, S. (2013) Inter-partner trust and controlling international joint ventures. Journal of American Business Review, Cambridge. 1 (2), pp.242-248.

Khakhar, P. & Rammal, H.Z. (2013) Culture and business networks: International business negotiations with Arab managers. International Business Review. 22 (3) June, pp.578-590.

Mo, X., Abdelnaser, O., & Hamid, K.P.A. (2012) Factors affecting Malaysia-China Construction Joint Venture (MCCJV) Projects. Economics, Management and Financial Markets, 7 (4), pp.666-677.

Nguyen, N.P. & Liem, N.T. (2013) Inter-firm trust production: theoretical perspectives. International Journal of Business and Management, 8 (7), pp.46-54. 


Tuesday, 16 August 2016

Understand is better than complaint. #Gen-Y

“They want a fast result.”
 “They don’t like face-to-face talk.
“They will quit the job once you scold them.”
 “They’re TOTALLY a big headache to me. I don’t even understand how they think!”
…………………………………………………………………………………………………………
Have you ever heard of all these comments at a workplace?

Who are “They”?

Yes, they are MILLENNIALS.



They are born in between early 1980s’ and the early 2000s’, also known as Generation Y, a name comes after Generation X. As expected by their birth years, millennials will be soon dominating the entire workforce in the next 10 years. Since they are the future human resource for an organization, automatically employers will concern on their company’s human resource management on this vast generation. However, the difference in term of life experience and life philosophy causes a huge communication gap between them and senior generation. Employers or managers who are baby boomers or Generation X do not understand the thought of young generation while millennials do not have the patience and mature speaking skill to further explain more on their thought. As a result, retaining the loyalty of these new bloods has become a challenging management issue for most of the organization in Malaysia. Before we think of solutions for this problem, we have to know WHYs.




Why baby boomers couldn’t understand millennials?


Perhaps you have googled “Gen-Y” couples of time when u get headache from young people. You did read many online articles, talk to others, and even attend training courses to understand more on their characteristics. Have your problems solved? Do you have better understanding on them right now?

If your answer is NO, then please answer the following questions to yourself honestly.
  1. Before you study or discuss about Gen-Y, have you get prepared yourself with an open mind and neutral stand?
  2. Do you selectively absorb information which only fits with your personal perception?
  3.  Is the person you choose to talk to is someone who is facing the same problem as you?
  4. Have you ever talk to Gen-Y and listen to them after you get any information about them?

Majority of the people who are holding the senior management level position is baby boomers or Gen-X. They run their companies from years to years, and their companies are growing from success to success. They are always proud of their working style and insist it as a RIGHT and SAFE way to be followed.

“I have so many years of experience, you should follow my way.” 

When comes to a discussion or meeting, this always a final conclusion.

When young people oppose them, they start to piss-off because they don’t like to be challenged. With an unstable emotion, they google about Gen-Y and selectively read the article which fits with their personal principle. After that, they choose to talk to another “victim” who faces the same problem as them. Eventually, the so-called “sharing session” turns into “complaint session”. How can the problem being solved with a closed minded and bias perception? Why don’t they talk to millennials to verify the contents?

Before we further discuss on this topic, please get prepared yourself with an open mind and neutral stand at first.

Nothing is always right. Please be humble and listen to Gen-Y, at least once. 

Why are they being so pampered? Their parents just called me and asked me not to torture their kids!

This is because….

their parents have gone through TOO many hardships at their young age.
Commonly, parents of millennials are baby boomers who also known as Merdeka babies in Malaysia. At their generation, average education level of them is quite low due to country and family poverty. Most of them started to work once they forced to stop studying (not graduating). They learnt skills and knowledge from workplace instead of formal and proper education system in school. They get scolded, get bullied and get exploit by their senior supervisors.

They want to fight against them, but they have no power.

They want to have a better life, but they have no better choice.

They are illegible to get a better job because they are not highly educated.  

In early 1990s, economy in Malaysia grew tremendously and became one of the tigers in South East Asia. In this period of time, Baby boomers and Gen-X able to grab opportunity to develop their career. Finally, they are able to give their family a better quality of life. At this time, they do not wish their children follow their footsteps. So, they set another mission for themselves: to lead their children into prosperous future. They start to invest money into kids’ tuition classes, motivates their kids to get As’ in exam, insists them to pursue professional courses like medical, law, finance and accounting ONLY. When their children have graduated from university, they even want to lighten their kids’ burden by helping them to buy a car.

With that, Gen Y in Malaysia brought up in good times and also has been trained to be profit-oriented. By having their parents’ strong “support”, they can even choose to quit from any working life challenges without a second thought. Escaping from challenges will make the young generation stay in the comfort zone and soon stop growing. The occurrence of this problem does not only come from Gen-Y, their family should take responsibility on it too.

One day, if you, as a manager are receiving a complaint phone call from their parents, please don’t get frustrated so fast. Try to talk to them nicely. If you do not help, the phenomena will be continued and maybe even worse in the future.

Jade must be cut and chiselled to be a useful vessel. Gen-Y needs a hardship.

Why they always want instant success? There is no short cut for being success!

This is because…

they afraid of failure.

“Everyone afraid of failure, not only Gen-Y.”

Yes, you are right. But believe me, Gen-Y takes “failure” much serious than other generation.

Firstly, their achievement used to be a conversation topic of their parents.

Parents love to do comparison with other’s kids. If their kids are not getting enough As’ in exam, not earning high enough salary, not holding high enough position in company, automatically they will be a shame to their family.

They don’t want to be a shame, so they need an instant success to prove their ability.

Secondly, social media even enlarges their focus on being success.


Since secondary school time, they start to open an account on social media especially Facebook, Twitter etc. Social media has become a common platform for them to share their happiness, sadness or any personal status with their social cycle. Of course, most of the users tend to market themselves as a successful person by sharing their personal achievement and happiness online with attractive pictures and famous quotes. They get recognition from the number of “Likes” given by friends on social media. They are so enjoy being admired, how could they accept failure?


Thirdly, peer pressure from social media.

In a secret admirer’s perspective, he or she will be self-doubting when they see a lot of happiness sharing on Facebook new feeds.

“Wow, Stephanie is so beautiful and clever. She is now a professional auditor in one of the BIG FOUR auditing companies.”

“Lucy is younger than me, she owns a coffee house and achieving her dream right now. Am I doing a job that I really love to do?”

 “Jason is travelling to Europe again. Why am I here?”

In order to catch up their idol’s speed, they desperately need an instant success to prove their capability.

Frankly speaking, they do not know what they want in their life. Not all of millennials are truly ambitious. Majority of them get influenced from the social media and trying so hard to be famous.
So, please don’t get angry with millennials, they are just a victim. Please talk to them, give good advice to them about their future career. They just need a counsellor.  

Why are they always changing their job? They have no loyalty at all!

This is because…

they have lost their direction.

The existence of internet make the world becomes borderless. Different types of thought and life philosophy have been shared online. The concept of individualism from Western country is promoted and strongly supported by young generation.

“Be who you are, do what you love.”

This is such a lovely and powerful quote.

However, this concept causes a conflict with Asian culture which focuses on socialism. Try to imagine, a person is brought up by typical Asian family and now he get influenced by Western culture. Which is the best philosophy for him as his principle of life? How is he going to make a decision? Whose words should he listen to?

 “Being an auditor is so boring. I should listen to my heart and do something that I love to do. My hobby is writing, I think I will be a successful author.”

“However, auditor can earn lots money compares to be an author, so I can have my own new car and house.”

Gen-Y always mentally struggle.

Do you know they are always unhappy always?  

Prosperous future is not their ultimate goal of life. But, they never dare to admit it.

Every culture has its positive and negative implications. It doesn’t go wrong if we let Gen-Y to approach different types of life philosophy. But, they are lack of analysing skills. They are too young to handle such complicated problems.

Please help them to analyse rationally, and ask them “What kind of person you want to be?”

Why are they so calculative and irresponsible?

This is because…

they don’t like their current job.

No one will be calculative and irresponsible if they are doing something they love to do.

A very simple example: A person would not care the price of the concert ticket if they love to sing with their idol. They will just blame to themselves not afford to buy a ticket, they would never blame to the concert organizer who offers a ticket with expensive price. They will find ways to earn more to buy a ticket and be responsible for keeping their ticket at a safe place.

Do you know most of the Gen-Y in Malaysia gets disappointed on their current job? They used to be ambitious, energetic, creative and optimistic during university life. They change a lot of things in school, so they want to change the world for a better future too. They thought they will be recognized one day if they keep their passionate at work. Unfortunately, the working world today is not as simple as they think. The real life situation does not meet their expectation.

They were working so hard for the company, even more than 8 hours per day. However, no one appreciates their effort.

They were trying their best to learn from zero, very dedicated to their job. However, only mistakes will be highlighted and get scolded.

They tried to treat their colleagues as friends. However, they get betrayed.

They were willing to improve a company internal system. However, there are too many politic issues.

All these challenges make their confidence level starts to drop. They couldn’t do any changes to the world, they are just a little potato of a big company. What have they learnt? They learnt how to protect themselves. In this kind of situation, if you were they, will you become calculative and irresponsible?

Every generation has different types of people. Same goes to Gen-Y. Some of them can be a great human resource for the company. Just that they are not lucky enough to meet great supervisor or manager. Please look back to your company culture too before start to point fingers to them.

Why they rather to communicate via text instead of speak?

In my personal opinion, I do not agree this is one of the typical characteristics for Gen-Y, it is a matter of personality. I met a lot of Gen-Y who are extrovert; they love to speak because they enjoy get attention from others. If the person is an introvert, he or she does not even dare to pick up an office phone call. In fact, technology advancement in communication tools provides new channels to introverts in communicating with strangers. They can choose to communicate with strangers by texting via email, whatsapp, messenger etc.

This practice can be a beginning stage for them to approach other people. Once their confidence level is getting better, it is the right time for their supervisor to encourage them to speak.

 So, please don’t get frustrated with Gen-Y who is introverts. They need time to improve.

What kind of working life they want?

Gen-Y believes in lifestyle.

Since young, they see their parents work from day to night, they see their grandparents more than parents, they see parents’ stressful and unhappy face every day.

They do appreciate the commitment of parents towards the family. But, they are not happy. They don’t want to be like their parents.

“Life is too short. We should enjoy our life” They always said that.

Do they think of how to achieve?

Yes, of course they do. They start to believe in work-life balance; aims to makes working hours to be more flexible; integrates work and play together. They try to create new landscapes based on technology with the concept of a borderless world. With internet and technology, why can’t they do work from home as long as work is done and delivered? With the help of technology, they can be more effective and efficient on work, and eventually they have more time to spend with family and friends. Why not?


Thus, in order to retain the loyalty of young generation towards the company, a manager may refer to the solution suggested as below:

  • Do not treat Millennials as a subordinate, treat them as a partner and always listen to them.
  • Identify the inner mind of Millennials and response according to their needs
  • Gen-Y is creative but they are not always right. Educate them by sharing experience with them.
  • Appreciate their hard-work and idea.
  • Provide more in house training, various courses for the staffs to attend so that their skills will be more mature.
  • Provide them different exposures and opportunities.  


Every generation has its assets and liabilities. The key is how to capitalise on each other’s strengths for maximum talent utilisation. We believe we are capable of finding our own recipe on how to manage and lead Malaysian generations! Malaysia Boleh!
by WONG YEAN YI (FM160020) and FOO SEAU AN (FM160019)
*All copyrights (images and texts) belong to their respective owners.

JOURNAL PUBLICATION

             ISSN: 2230-9926
 
INTERNATIONAL JOURNAL OF DEVELOPMENT RESEARCH
 
 [SJIF Impact Factor: 4.25]
 
 (An open access scholarly, online, peer-reviewed, interdisciplinary, monthly, and fully refereed journal)
 
 
CALL FOR PAPER- August- 2016
 
Smooth, simple and timely publishing of review and research articles
 
We are pleased to inform you that IJDR is going to launch its next issue (Volume 6, Issue 08, and August 2016). We would like to invite you to contribute your Research Paper for publication in IJDR. Papers published in IJDR will receive very high publicity and acquire very high reputation. The journal covers all areas of Sciences, Arts, Medical, Engineering, Agriculture and etc., We publish original research articles, review articles, and technical notes. The journal reviews papers within one week of submission and publishes accepted articles on the internet immediately upon receiving the final versions. Our fast reviewing process is our strength.
 
Authors are requested to prepare their manuscript in IJDR paper format, by using IJDR paper Template. For author’s convenience, we strongly follow the following steps.
 
1. The response will be given within 12 hours.
2. The paper will be reviewed within one week.
3. The author will get their Acceptance/Rejection Notification within 10 days of submitting a paper.
5. All the accepted papers will be openly accessible with  full PDF download.
 
Submit your manuscript through E-mail at editor@journalijdr.com
 
 
 With regards

EDITOR
International Journal of Development Research






Monday, 15 August 2016

A Big Thank You For Your Donation!

Dear Donors of IIC University's Library Donation,

We from HB Academy would like to thank you for your kind donation of books to our library. All the books that you have donated to HB Academy library will be useful for our students.

We would like to thank the following donors:
  • Prof. Dr. Sian Hock Seng
  • Dr. Wan Edura
  • Dr. Vincent Leong
  • Mr. Liew Kar Thye
  • Prof. Dr. Leow Chee Seng
  • Prof. Dr. Lee Yee Loon
  • Prof. Datuk Dr. Marimuthu
  • Dr. Hossein
  • Prof. Dr. Sankaran
We appreciate your support to our organization. 
Thank you once again.