Development Of Risk Management Strategies Research Articles

Message matters: Correcting organisational fake news

Misinformation and fake news represent significant strategic and financial risks to organisations. To dispute or manage fake news, organisations are often compelled to respond. However, the most effective responses to organisational fake news are not well understood. Using an experimental design (N = 501), this research explored two common approaches organisations may employ when responding to fake news and examined their effects on consumer perceptions. Specifically, this research experimentally varied who delivers a correction to organisational fake news (i.e., correction source; CEO or Celebrity ambassador) and how the message is delivered (i.e., correction message; Factual or Narrative). The results indicated that consumer perceptions were not substantially altered when a correction was delivered by either the CEO or a Celebrity ambassador. However, corrections delivered using a narrative style were significantly more effective at enhancing consumer perceptions compared to factual corrections. Analyses indicated that the beneficial effects of a narrative corrective message on consumer perceptions was mediated by consumer's enhanced impressions of the source and message credibility. These findings suggest that organisations should develop risk management strategies that detail how corrections to fake news should be delivered to consumers, and particular attention should be devoted to the framing of the message.

Why is the Bond Market Useful? Evidence from Risk Management

The bond market is crucial for the financial market, because as long as a public company is faced with the birth of the bond market through the decentralization of shares at the same time. And risk management strategies are equally important for a company. A business can be exposed to significant risks causing losses within the business during the course of operations. It is then necessary for the managers of the company to develop risk management strategies to reduce the risk of the company. The topic of this paper is Why is the bond market so useful? What contributions can it make to risk management strategies? Through this analysis, we know that understanding the bond market can help managers to develop risk management strategies. In addition, the significance of this research paper is also shown in theprovide implications for investors.

РИСКИ АНТИКРИЗИСНОГО УПРАВЛЕНИЯ В СОВРЕМЕННОМ БИЗНЕСЕ

The article discusses the concept of anti-crisis management, its role and significance in the modern economic environment. A classification of risks is presented, including economic, political, social, technological and financial. The author presents the characteristics of each type of risks, their causes and consequences for the business environment. Economic, political, social risks require effective management through identification, assessment and control, as well as the development of management strategies and the use of appropriate tools to ensure economic stability and social development. Technology risks include information security, data privacy issues, technology system failures, vulnerability to cyberattacks, and negative health and environmental impacts. Financial risks are the possibility of financial loss or uncertainty associated with external and internal factors such as economic fluctuations, changes in foreign exchange rates, financial mismanagement and poor investment decisions. Particular attention is paid to the methods of risk analysis, including the assessment of the probability and impact of risks, as well as the development of risk management strategies.

ПРОБЛЕМИ ЗАЛУЧЕННЯ ІНОЗЕМНИХ ІНВЕСТИЦІЙ У ВОЄННИЙ ПЕРІОД ТА ШЛЯХИ ЇХ АКТИВІЗАЦІЇ

The purpose of this article is to investigate the challenges of attracting foreign investments into the Ukrainian economy in the contemporary era and to develop scientifically grounded recommendations for creating and enhancing mechanisms to activate this process in the conditions of war and the postwar period. Identified problems that hinder the attraction of foreign investments in Ukraine during times of war. The most significant of these are political instability, risks associated with the inability to ensure the safety of foreign investors, significant damage to infrastructure across most of Ukraine, financial constraints, legal risks, and the substantial loss of human resources, both due to the loss of a significant part of the working-age population and the mass forced migration caused by the war. The war in Ukraine has led to a decrease in overall economic activity, and a significant reduction in production and consumer demand, which has had a negative impact on business profitability. All of these factors have led to a loss of investor trust and their reluctance to invest in the Ukrainian economy in the near future. It is noted that attracting foreign investments during times of war requires a thorough risk analysis, the development of risk management strategies, and the implementation of measures to create a favorable investment climate. The article outlines measures that will reduce risks for investors and make Ukraine more attractive for foreign investments during wartime and post-war recovery. These measures include ensuring the security of businesses, investors, their assets, and employees; seeking international guarantees and support from international organizations or other states; developing and implementing clear, stable, and transparent investment rules; ensuring the protection of the property rights of foreign investors; strengthening the fight against corruption and increasing transparency in business operations; providing financial support for investment projects, including tax incentives, loans, and other incentives; conducting informational campaigns and advertising to promote Ukraine's investment potential and advantages among foreign investors; and developing international partnerships and cooperation with other countries, among other things.

Training in tools to develop quantitative risk assessment of fresh produce using water reuse systems in Mediterranean production.

Water resources are increasingly coming under pressure specially around the Mediterranean area, leading to water scarcity and a deterioration in water quality. The use of treated wastewater represents an alternative source to enhance the demand for irrigation water. Water reuse in combination with the promotion of the use of water‐efficient technologies in industry and water‐saving irrigation techniques could lead to good qualitative and quantitative water status for surface and ground water bodies. Nevertheless, food‐borne outbreaks linked to fresh produce irrigated with partially or untreated wastewater caused by bacteria, parasites and enteropathogenic viruses have been widely reported. In the absence of solid scientific understanding of the actual risks involved, consumers are likely less receptive to buy leafy greens irrigated with treated wastewater, also known as reclaimed water. In this study, we aimed to assess the microbiological risks of leafy green vegetables irrigated with treated wastewater in Spain using Norovirus as a model organism to facilitate the development of risk management strategies. A conceptual exposure model was designed to describe the virus fate and transport from the Wastewater treatment plant (WWTP) secondary effluent to the consumers' fork. This study is an example of the use of reclaimed water for irrigation of commercial fields producing leafy greens in the south‐east of Spain and tries to assess potential microbiological risks to the consumers by establishing their safety.

Bargaining optimization model for risk renegotiation with fairness concerns in infrastructure PPP projects

PurposeReasonable risk sharing is the key to the smooth implementation of infrastructure public-private partnership (PPP) projects and the optimization of benefit distribution among the participants. This study aims to explore the risk redistribution ratio between the government and the private sector under different degree of fairness concern.Design/methodology/approachRenegotiation is a mechanism to provide flexibility and make up for incompleteness of PPP contracts. However, the threshold value of risk redistribution ratio and negotiation cost are not explicitly considered in previous studies. In addition, these studies do not consider the influence of the fairness concern psychology on the negotiation process. To address these gaps, based on risk-income equilibrium analysis, this paper established the bargaining optimization model of PPP projects renegotiation considering the fairness concerns of the negotiating parties. Furthermore, this study analyzed the influence of fairness concern degree on negotiation thresholds, negotiation results, and negotiation incomes under three scenarios.FindingsThe results showed that excessive focus on the fairness of incomes may exclude the risk redistribution ratio that is most beneficial to project incomes from the negotiation threshold. Moreover, the increase in the fairness concerns of negotiating parties can reduce the negotiation success period, but the net income may not necessarily be improved.Originality/valueThe main contribution of this paper is to propose a new risk renegotiation methodology based on the risk-income equilibrium analysis, which is helpful to develop risk management strategies in the construction field. The research results can provide government with reference about renegotiation in decision making and provide theoretical support for the practice of PPP renegotiation.

Survival kinetics, membrane integrity and metabolic activity of Salmonella enterica in conventionally and osmotically dehydrated coconut flakes

Many outbreaks involving Salmonella enterica in dehydrated coconut have been reported. Little is known about the survival of S. enterica in dehydrated coconut flakes at common retail or domestic storage conditions. This study evaluated the behavior of a S. enterica cocktail (S. Enteritidis PT4, S. Typhimurium PT4, S. Bredeney, S. Muenster and S. Agona) in conventionally and osmotically dehydrated coconut flakes under four storage regimes: 25 °C for 120 days, 25 °C for 30 days then 7 °C for 90 days, 7 °C for 30 days then 25 °C for 90 days, and 7 °C for 120 days. S. enterica membrane integrity (using with propidium iodide and bis-1,3-dibutylbarbutyric acid) and metabolic activity (using 5-cyano-2,3-ditolyl tetrazolium chloride) were assessed by flow cytometry analysis after dehydration and storage at 7 °C or 25 °C for 120 days. Lower S. enterica inactivation rates (kmax 0.02 to 0.04 1/days) were observed in conventionally dehydrated coconut flakes compared to osmotically dehydrated coconut flakes (kmax 0.16 to 0.20 1/days). Changes in storage temperature did not affect the behavior of S. enterica in conventionally or osmotically dehydrated coconut flakes. Results show that S. enterica inactivation in conventionally dehydrated coconut flakes could be described by log-linear with tail models. S. enterica inactivation in osmotically dehydrated coconut flakes could be described by log-linear with shoulder and tail models. Subpopulations of S. enterica cells with damaged membranes and without metabolic activity were larger in conventionally (32.1% and 90.9%, respectively) than osmotically dehydrated coconut (18.5% and 82.2%, respectively) flakes at the beginning of the storage. Subpopulations of S. enterica cells with damaged membrane decreased by 9.4–14.4%, while cells with membrane potential and intact membrane increased by 23.7 and 24.2% in conventionally dehydrated coconut flakes after 120 days of storage at 7 °C or 25 °C, respectively. Subpopulations of S. enterica with damaged membranes did not change significantly in osmotically dehydrated coconut flakes. Our findings suggest that S. enterica populations decline during storage occurs due in part to membrane integrity losses. These data can contribute to the development of risk management strategies for S. enterica in dehydrated coconut flakes.

Identification, migration, and childhood exposure of methylsiloxanes in silicone infant bottle nipples marketed in China

The analysis, migration, and childhood exposure of methylsiloxanes (MSs) in 32 silicone infant bottle nipples marketed in China were studied. Thirty types of MSs in two families, which included 11 linear MSs (LMSs, L4-L14) and 19 cyclic MSs (CMSs, D4-D22), were identified using gas chromatography–mass spectrometry (GC–MS) associated with standards, retention index, and carbon number rule. In 32 nipples, MSs with molecular weight < 1000 Da and CMSs were predominant. Considering the actual daily use of bottle nipples, the migration tests of MSs from nipples to artificial saliva and reconstituted powdered formula were performed. In particular, the orthogonal test design–QuEChERS–GC/MS was employed to detect MSs in formula. The median migration level of ΣMSs (MW < 1000 Da) in formula was 950.9 ng/mL, which was much higher than that in artificial saliva (98.1 ng/mL). If formula is fed to children aged 3–36 months using bottle nipples according to product instructions, the daily oral exposure to ΣMSs (MW < 1000) for children ranged from 52 to 146 μg/kg bw-day, which were two to five orders of magnitude higher than those of other exposure pathways. In sum, oral intake (especially through formula) may be the predominant pathway of exposure of MSs in children. This research enhances our understanding of the oral exposure risks of MSs and provides useful information that could aid the development of risk management strategies.

Concentrations, distribution and potential health risks of organic ultraviolet absorbents in street dust from Tianjin, a megacity in northern China.

The distribution of organic ultraviolet absorbers (OUVAs) in outdoor dust remains poorly understood, especially in megacities. We measured the concentrations of 11 OUVAs in street dust from Tianjin, China, by a gas chromatography-mass spectrometry, and found total concentrations in the range of 10.3-129ng/g. These OUVAs were prevalent in the study street dust, but their concentrations were much lower than those in indoor dust reported in other areas previously. Benzophenone and octocrylene were the dominant OUVAs, representing medians of 15.5% and 13.1% of total OUVA concentrations, respectively. Total concentrations of dust OUVAs in the industrial area were higher than the residential, cultural and new urban areas. Source assessment indicated that the OUVAs likely originated mainly from the manufacture and consumption of cosmetics and personal care products, and some may have been from the production and use of OUVA-containing consumer products. The calculated non-carcinogenic risks of OUVAs in street dust were low. Our results further confirmed that the OUVAs were prevalent in the environment, provide useful information for understanding potential risks of these chemicals and developing risk management strategies. Further studies are needed to investigate the occurrence, environmental behaviors and potential risks of these emerging contaminants in outdoor environment.

ANALISIS RISIKO RANTAI PASOK KOPI GREEN BEAN DENGAN MENGGUNAKAN METODE HOUSE OF RISK (Studi Kasus di PTPN XII Kebun Silosanen)

PTPN XII Silosanen is one of the large state-owned coffee plantations (PBN) in East Java Province. PTPN XII Silosanen in running its business encountered several problems. One of them is the raw material produced is low. This has the potential to cause the production target not to be achieved, so the company is unable to meet consumer demand. These problems will cause losses for the company, so efforts must be made to prevent the occurrence of risks. This study aims to identify risk events and sources of risk, as well as develop treatment strategies to minimize the occurrence of risks. The method used is the House of Risk (HOR) method. The HOR method consists of two phases. HOR phase 1 is used to identify risk events and sources of risk, while HOR phase 2 is used to develop risk management strategies. The results of this study indicate that there are 26 risk events and 28 sources of risk, and 15 strategies for handling risk sources are obtained. Furthermore, 7 priority treatment strategies are obtained to mitigate risk events.

Linking the processes of medication administration to medication errors in the elderly

BackgroundOlder people are more prone to chronic diseases than younger ones and typically receive multiple medications. Medication rounds in long-term care facilities (LTCFs) are usually lengthy, with most errors occurring during the administration phase. How nurses apply medication administration processes can affect resident outcomes.AimTo determine the processes of medication administration followed by nurses in LTCFs as self-reported by them to identify possible factors associated with medication errors.SettingTwenty-eight LTCFs for the elderly in the Western Cape province, South Africa.MethodsA non-experimental cross-sectional descriptive design was applied, using a quantitative approach. A stratified sampling method obtained equal samples of nurses from funded and private LTCFs, thus N = 123 respondents. Data collection was via self-administered questionnaires. The Statistical Package for the Social Sciences (SPSS27) was used for descriptive and inferential analysis.ResultsNurses’ self-reported medication errors such as the sharing of medication between residents (83%), the omission of doses (64.8%), neglecting to sign after medication administration (57%), and medication administered at the wrong time (50.8%). Frequent interruptions during medication rounds were the most common reason for medication errors (75.6%).ConclusionMultiple medication administration process errors were self-reported by the nurses. LTCFs should provide mandatory medication training, monitor the adherence to correct medication administration procedures, and implement risk-management strategies.ContributionThe identified factors associated with medication errors during medication administration processes can assist with developing risk management strategies and policies in the LTCFs and improve evidence-based practice and resident outcomes.

Changes in the effect of credence cues on restaurant delivery service under different health risks

PurposeDue to increased health concerns, restaurant customers rely more on credible cues that indirectly represent health-related credence quality. To comprehensively understand the dynamics between credence cues and restaurant delivery with different infection risks, this study aims to investigate changes in cue utilization during the pandemic.Design/methodology/approachData on delivery sales, brand and review rating between 2019 and the first half of 2020 were obtained from Meituan. Fixed-effects estimation was used to investigate 579,858 restaurant observations across 338 cities in China.FindingsHealth concerns significantly increased the use of restaurant delivery and the increased delivery sales remained steady even after infection risk was reduced. However, cue utilization in restaurant delivery substantially changed depending on inflection risk. In the pandemic-spreading period, the sales effect of the brand increased while that of review rating decreased. The decreased effect of review rating was recovered in the pandemic-flattening period, whereas the abnormal brand effect continued only when branded restaurants had a high rating.Research limitations/implicationsThe findings demonstrate the selective and contextual nature of cue utilization in the restaurant delivery setting. These characteristics are also manifested in a health crisis from a credence cue perspective.Practical implicationsThe findings demonstrate the selective and contextual nature of cue utilization in the restaurant delivery setting. These characteristics are also manifested in a health crisis from a credence cue perspective. Further, this study re-conceptualizes credence quality and cues, considering their roles in risk management. The findings help develop risk management strategies based on customers’ usage patterns of credence cues in health crises.Originality/valueThe dynamics between credence cues and restaurant delivery has not been comprehensively investigated, especially when infection risk changes. This study delivers theoretical and practical contributions about how to use credence cues in the restaurant business amid health crises.

Quality risk analysis of cocoa agroindustry: a case study in Pesawaran District, Lampung Province

Quality is a critical issue in small and medium scale cocoa agroindustry, which affected competitiveness significantly. Product quality is strongly influenced by implementing best practices in cocoa production and processing. This study aims to identify quality risks, analyze risks, and develop risk management strategies in the cocoa agroindustry using a case study. Analysis used Quality Risk Matrix to map the risks and Analytical hierarchy process to develop a quality risk management (QRM). The results showed that blooming is the highest quality risk, followed by taste differences, moisture content of raw materials, and color differences. From the management aspect, QRM in the cocoa agroindustry includes documentation system management, implementation of training regularly, implementation of internal audit, periodic reviews, impact assessment, development reports and controls verification, and development of an integrated supply chain systems. QRM includes providing facilities, maintenance of equipment and utilities, material management development, packaging and labeling, and continuous production methods from the technical side. The implementation of QRM in the cocoa agroindustry is carried out through improvements in the production process. In addition, the implementation of QRM requires support from the government and other stakeholders in the cocoa value chain.

The COVID-19 pandemic and the internationalization of production: A review of the literature.

MotivationThe COVID‐19 pandemic has substantially altered the context for cross‐border business. This is reflected in trade flows but the conditions for conducting dispersed production functions across countries are also affected. This “new normal” period presents the need to examine the main problems and challenges in international trade and business.PurposeThe article aims to establish the scope, aspects, and implications of the COVID‐19 pandemic on international trade and on international production by reviewing recent articles which deal with international trade and global value chain (GVC) issues, encompassing both changes that were already taking place and the challenges that began in 2020.Methods and approachThe findings of recent articles on trade flows and changes in GVCs (mainly the period 2019–2021) are described in theoretical terms, compared, and systematically reviewed. Special focus is given to the impact of the pandemic on GVCs, renationalization, and GVCs and the impact of the pandemic on GVC governance, and GVCs in the production of vaccines for the COVID‐19 virus.FindingsA drop in trade was recorded in 2020, alongside the introduction of protective trade policy measures. Reduced GVC activities had a negative impact on welfare and the “renationalization” of GVC‐related activities is not a real solution. For the development of GVCs it is important to find a trade‐off between efficiency and resilience, starting with reorganization (re‐engineering) of GVCs, and probably focusing on regional frameworks. Liberal trade policies are essential to ensure the involvement of GVCs in producing the COVID‐19 vaccines, since the various inputs are produced in different countries.Policy implicationsThe possible directions for the future development of GVCs are elaborated: reshoring, resilience in supply chains, adjustments in governance, diversification, and development of risk‐management strategies. The process of internationalization is not in question, but presents challenges which create the need for adjustments in its future development. Current problems with vaccine production arise in part from the erection of trade barriers and rising nationalism. There is a need for greater cross‐country co‐operation to avoid placing national short‐term interests before long‐term and broader objectives.

Non-targeted screening of chemicals migrating from paper-based food packaging by GC-Orbitrap mass spectrometry

The aim of this study was to identify chemicals migrating from paper-based food packaging materials by GC-Orbitrap mass spectrometry (MS). Migration tests were conducted with samples of butcher paper, liquid egg containers, pizza boxes and pizza box liners. A new approach for an automated data processing of GC-Orbitrap EI data was developed and evaluated with Compound Discoverer™ software. A total of 35 migrated chemicals were putatively identified. They represented natural compounds, fatty acid ethyl esters, FDA substances added to food and Indirect Additives in Food Contact Substances, common phthalates, alkanes, siloxanes, ketones, and chemicals used as additives in packaging. Additionally, some unexpected compounds suspected to be degradation products of additives were identified. Levels of 23 identified chemicals significantly (p < 0.05) changed over the 10-day migration test. For two identified migrants, dibutyl phthalate and benzophenone, calculated specific migration limits (SMLs) were below the established regulatory levels. The information on the identity of chemicals migrating from food packaging materials is important to inform regulatory agencies and to develop risk management strategies.

Maturity-based Development of Strategic Thrusts for Socio-technical Risks

Industry 4.0 provides many advantages. Nevertheless, the implementation of Industry 4.0 technologies is associated with human, technological and organizational risks. To minimize the vulnerability to risks, companies need to develop risk management strategies adapted to the degree of digitalization of the organization. Therefore, the companies’ specific degree of digital maturity has to be considered. In this paper a suitable maturity model for digitalization is identified and adopted to the context of risk management. A risk threat level is developed, that helps to compare socio-technical risks with the company’s degree of maturity and allows to derive strategic thrusts for risk mitigation.

Risk Management Solutions for Climate Change-Induced Disasters.

In honor of the 40th anniversary of Risk Analysis, this article suggests ways of linking risk assessment and risk perception in developing risk management strategies that have a good chance of being implemented, focusing on the problem of reducing losses from natural hazards in the face of climate change. Following a checklist for developing an implementable risk management strategy, Section 2 highlights the impact that exponential growth of CO2 emissions is likely to have on future disaster losses as assessed by climate and social scientists. Section 3 then discusses how people perceive the risks of low-probability adverse events and the cognitive biases that lead them to underprepare for future losses. Based on this empirical evidence, Section 4 proposes a risk management strategy for reducing future losses using the principles of choice architecture to communicate the likelihood and consequences of disasters, coupled with economic incentives and well-enforced regulations.

Midwives’ thoughts about musculoskeletal disorders with an evaluation of working tasks

The prevalence of musculoskeletal disorders is very high amongmidwives resulting in sickness absenteeism, functional limitation and staff shortages. There are several contributory risk factors having impact on the development of MSDs. This study aimed to (1) explore midwives' experiences and views about work-related MSDs and contributing risk factors, and (2) analyse working postures for musculoskeletal injury risks. A mixed method approach was used with interviews/focus group (n = 15/7) and observations (n = 22) of specific tasks (during birth and after birth) using the posture analysis observational method (Rapid Entire Body Assessment, REBA). The participants were midwives who had an active role in the United Kingdom (UK) National Health Services (NHS). It was found that MSDs were often attributed to the physical (working in awkward positions), organisational (longer shift hours, fewer staff, increased work load), psychosocial (defensive practice, higher demand) challenges of midwifery. All postures had very high to medium REBA risk levels with action categories indicating that action or further assessment is definitely necessary to reduce MSDs. This research provides a holistic approach by analysing risk factors and interactions in the work context to inform the development of risk management strategies. Midwifery working conditions have a big impact on developing musculoskeletal symptoms. Management of such symptoms will improve staff wellbeing, mother and baby safety, individuals' life trajectories and staff shortages.

A C-BiLSTM Approach to Classify Construction Accident Reports

The construction sector is widely recognized as having the most hazardous working environment among the various business sectors, and many research studies have focused on injury prevention strategies for use on construction sites. The risk-based theory emphasizes the analysis of accident causes extracted from accident reports to understand, predict, and prevent the occurrence of construction accidents. The first step in the analysis is to classify the incidents from a massive number of reports into different cause categories, a task which is usually performed on a manual basis by domain experts. The research described in this paper proposes a convolutional bidirectional long short-term memory (C-BiLSTM)-based method to automatically classify construction accident reports. The proposed approach was applied on a dataset of construction accident narratives obtained from the Occupational Safety and Health Administration website, and the results indicate that this model performs better than some of the classic machine learning models commonly used in classification tasks, including support vector machine (SVM), naïve Bayes (NB), and logistic regression (LR). The results of this study can help safety managers to develop risk management strategies.

Machine learning-based integration of large-scale climate drivers can improve the forecast of seasonal rainfall probability in Australia

Probabilistic seasonal rainfall forecasting is of great importance for stakeholders such as farmers and policymakers to assist in developing risk management strategies and to inform decisions. In practice, there are two kinds of commonly used tools, dynamical models and statistical models, to provide probabilistic seasonal rainfall forecasts. Dynamical models are based on physical processes but are usually expensive to operate and implement, and rely overly on initial conditions. Statistical models are easy to implement but are usually based on simple or linear relationships between observed variables. Recently, machine learning techniques have been widely used in climate projection and perform well in reproducing historical climate. For these reasons, we conducted a case study in Australia by developing a machine learning-based probabilistic seasonal rainfall forecasting model using multiple large-scale climate indices from the Pacific, Indian and Southern Oceans. Rainfall probabilities of exceeding the climatological median for upcoming seasons from 2011 to 2018 were successively forecasted using multiple climate indices of precedent six months. The performance of the model was evaluated by comparing it with an officially used forecasting model, the SOI (Southern Oscillation Index) phase model (SP) operated by Queensland government in Australia. Results indicated that the random forest (RF) model outperformed the SP model in terms of both distinct forecasts and forecasting accuracy. The RF model increased the percentages of distinct forecasts to 64.9% for spring, to 71.5% for summer, to 65.8% for autumn, and to 63.9% for winter, 1.4 ∼ 3.2 times of the values from the SP model. Forecasting accuracy was also greatly increased by 28%, 167%, 219%, and 76% for four seasons respectively, compared to the SP model. The proposed rainfall forecasting model is based on readily available data, and we believe it can be easily extended to other regions to provide seasonal rainfall outlooks.