IJPM Editorial

Volume 19, Issue 2, 2024

1. Evaluating the Determinant Factor Of Human Capital On Competency of Malaysia's Furniture Designers (From the Perspectives of Regional Comprehensive Economic Partnership (RCEP)

- Steven Jay Chong Yee

Furniture designers worked in a cottage industry in the 80s, but have built to a value of RM billion, but this has begun to fall. After many years of discussion, The Regional Comprehensive Economic Partnership (RCEP) has formed with a view to developing its already strong potential. Furniture designers are at the heart of this enterprise. This is well-recognised in developing countries, less so in Malaysia, where there is a lack of mutual trust between designer and employer. Furniture design is a 3D job (Dangerous, Demeaning and Dirty) and so does not easily attract newcomers. There is some, but not enough, innovation. Training and development is a vital investment to unleash talent. Improved skills benefit both employers and employees. It pays to foster good relationships, which also boosts motivation. This article looks at some of the theories behind this.


2. The Use of the Balanced Scorecard Framework as a Means of Measuring Project Success: A Literature Review in the Context of the Southern African Development Community

- Molefi Kelefang

A balanced scorecard (BSC) is a way to measure variables that are hard to quantify, such as customer experience, company processes and employee performance. It was pioneered by Kaplan & Norton in the 1990s to go beyond financial perspectives. There was then debate about how to measure variables which, by their nature, were difficult to measure. Even though it cannot claim undisputed accuracy, it has developed into a useful framework. For example, it can link performance from four perspectives - financial, ustomer, internal processes and learning & growth. Each one of these affects each of the others, increasing its complexity. Performance measurement faces similar difficulties once it gets beyond quantity of production in a given time. This article looks at these complex issues in relation to the Southern African Development Community, and the principles can be applied to other organisations.


3. The Effect of Social Media Marketing (SMM) on Electronic Word-of-Mouth (eWOM), and the Mediating Role of Brand Equity: A case study of Private Higher Education Institutions in Malaysia.

- Lim Lit Way

Private higher education is a crowded market and there is intense competition. The push for digitisation has strengthened in the pandemic. Using social media platforms rather than traditional channels is cheaper, quicker, and enables taking on many more students. However, this also brings challenges. The high speed and far reach that enables rapid expansion also makes fostering reputation more important and more easily tarnished. Comments are instantly available to all and may be read by thousands in a few days. Reputations can be elevated or destroyed in days. This is even more important in education as it entails long-term two-way commitment. The Elaboration Likelihood Model (ELM) shows how social media can influence attitudes. This paper discusses the various ways ELM can produce long-term or short-term effects of views. This makes a useful tool to make the best use of social media.


4. The Future of Money in the Web3 Era: Central Bank Digital Currencies, Cryptocurrencies, BRICS Dollar and Precious Metals

- Geoffrey Tan Weng Leng

Money has come a long way since cowrie shells became currency in around 1200 BCE. Metal coins were used in Babylon centuries before that, and we still have the gold standard. Leather has also been used; it is believed to have started around 1000 BC. Possibly, the slang 'buck' for 'dollar' stems from buckskin being used as currency. Paper money is thought to have started around 1000 CE in China. The idea of credit probably started as soon as someone did not have enough for immediate payment. Credit cards in the modern sense started in the mid-twentieth century. It was money that worked through technology. Now there is digital currency, with complex computer systems. This paper discusses the various forms this takes - blockchain, cryptocurrencies, BRICS (Brazil, Russia, India, China, and South Africa) bitcoins and web3 money.