Management Framework Research Articles

Partial hedging in credit markets with structured derivatives: a quantitative approach using put options

This study develops a novel method for mitigating credit risk through the use of structured derivatives, focusing in particular on the use of European put options as a strategic hedging tool. Inspired by the work of Merton (1974), our approach introduces the concept of default triggered by the stock price ST breaching a predefined barrier B. By establishing a distributional equivalence between an existing default model and P(ST<B) for a given time T, we demonstrate the potential for reducing the necessary capital allocation for a projected loss X(T) by partially hedging with a European put option. We formulate and solve an optimization problem w.r.t. a specific risk measure to determine the optimal strike price for the option, and our numerical analysis confirms a reduction in the Solvency Capital Requirement (SCR) in markets with and without jumps. Our findings provide (insurance) companies with a pragmatic approach to mitigating losses while maintaining their current risk management framework.

Developing Managerial Framework to Cultivate Critical Skills in The South African Automotive Retail Industry

The purpose of this study is to develop managerial framework that could be utilised to cultivate critical skills in the automotive retail industry. This would be achieved by providing a comprehensive literature overview regarding skills development strategies including life-long learning, apprenticeship, and mentorship programmes. The study utilised a qualitative research methodology. Data are collected through face-to-face interviews using an interrogation technique. Data collection process was done in participants’ natural settings, enabling the researcher to develop new knowledge, and understanding of strategic tools that can be utilised to promote skills development of technicians for the automotive retail industry. The findings reveal a strong collaboration between non-technical and technical high schools as well as technical colleges is essential to ensure the quality of skills development in the automotive retail industry is improved, and thereby improve the market pool of skilled young technicians.

X-RMTV: An Integrated Approach for Requirement Modeling, Traceability Management, and Verification in MBSE

Formal requirements modeling and traceability management are essential for effectively implementing Model-Based Systems Engineering (MBSE). However, few studies have explored the integration of requirement modeling, traceability management, and verification within MBSE-based systems engineering methodologies. Moreover, the predominant modeling language for MBSE, SysML, lacks sufficient capabilities for requirement description and traceability management and for depicting physical attributes and executable capabilities, making it challenging to verify functional and non-functional requirements collaboratively. This paper proposes an integrated approach for requirement modeling, traceability management, and verification, building on the previously proposed integrated modeling and the simulation language called X language. Our contributions primarily include defining the ReqXL specification for MBSE-oriented requirement modeling based on X language, proposing an algorithm for automatically generating requirement traces, and an integrated framework for requirements modeling, traceability management, and verification was developed by combining the X language with ReqXL. These functionalities were customized on the self-developed integrated modeling and simulation platform, XLab, which is specifically tailored for the X language. Furthermore, we showcase the efficacy and promise of our approach through a case study involving the design of an aircraft electrical system.

Financial Technology Service Companies' Innovation Change Management and Leadership-Driven Organizational Adaptability

In the context of rapid development in financial technology, financial technology service companies face unprecedented changes and challenges. This paper explores how these companies can drive organizational adaptability through innovative change management and leadership to enhance their market competitiveness. First, the paper defines financial technology and its development trends, provides an overview of core theories of change management, and analyzes the impact of change management on organizational performance. Next, it discusses the implementation framework for organizational adaptability, highlights challenges encountered during the adaptation process, and proposes corresponding solution strategies, along with methods to optimize adaptive strategies. Finally, the paper examines the organizational capabilities required for sustained change and innovation, particularly focusing on management models for continuous change and the enhancement of organizational capabilities driven by innovation. Through systematic analysis and strategic recommendations, this paper aims to provide effective frameworks for change management and leadership-driven adaptability strategies for financial technology service companies to navigate an ever-changing market environment.

Research on the Relationship Between Dormitory Culture Construction and Student Management in Vocational Colleges

With the continuous changes in the educational environment of vocational colleges, the relationship between dormitory culture construction and student management has garnered increasing attention. Dormitory culture not only influences students' mental health and social skills but also profoundly impacts the effectiveness of student management. This paper aims to explore the definition and components of dormitory culture in vocational colleges, analyze the theoretical framework of student management, and investigate the interactive relationship between dormitory culture and student management. Through theoretical analysis and case studies, it is found that dormitory culture can effectively promote the implementation of student management, while a sound management mechanism can also support the construction of dormitory culture. This research provides a theoretical basis and practical guidance for improving student management levels and dormitory culture construction in vocational colleges.

Centralized Vulnerability Management and SDK Risk Assessment Framework for Enhanced App security

Centralized Vulnerability Management and SDK Risk Assessment Framework for Enhanced App security

Patient-centered lean healthcare management from a humanistic perspective

BackgroundHealthcare organizations are under pressure to improve services because of an aging population and increasing healthcare demands. Lean healthcare management focuses on improving service quality and efficiency under the condition of limited resources, but it may overlook patients’ emotional needs and experiences, especially in developing countries. This study advocates integrating medical humanities with lean healthcare to develop a patient-centered service model.MethodsThe study employs literature review to discuss the critical role of medical humanities in lean healthcare frameworks, both theoretical and practical. Additionally, it conducts a qualitative study through semi-structured interviews to explore strategies for developing a humanistic lean healthcare model. The study conducts semi - structured interviews with eight management staff members and doctors in a tertiary hospital in China that actively adopts this approach.ResultsEight managers and doctors (five female and three male) were interviewed between January and March 2024 at their chosen locations. Firstly, the study identifies key benefits of integrating medical humanities into lean healthcare, which are as follows: (1) Enhancing the personalization and comprehensiveness of services. (2) Building trust in doctor-patient relationships. (3) Boosting the satisfaction of healthcare teams. Secondly, it highlights strategies for a humanistic approach, namely: (1) Conducting comprehensive patient assessments and providing personalized treatments. (2) Enhancing doctor - patient communication for emotional resonance. (3) Optimizing the medical environment for humanized services. (4) Developing humanistic qualities among healthcare professionals. (5) Using information technology effectively. Additionally, the study also addresses potential issues regarding lean healthcare’s focus on profitability and proposes preventive measures: (1) Implementing a scientific evaluation and incentive mechanism. (2) Enhancing transparency and oversight in healthcare. (3) Cultivating a patient - centric medical culture.ConclusionsThis research proposes a patient-centered lean healthcare model integrating medical humanities, providing a novel framework for improving service quality and efficiency while ensuring compassionate care. This management framework can support the reform of public hospitals in China and also serve as a reference for other countries.

The Historiography of Forests use Types and Implication for Forest Conservation in the Montane Forests of Ngongbaa, Kilum, Kovifem and Kovkinkar

This study explores the timeline history of forest use types and beneficial relationship of forest, forest communities and conservation in the montane forests of Ngongbaa, Kilum, Kovifem and Kovkinkar from the mid-1970s to 2015. Data and/or information collected for this study comprise literary, questionnaire, interview, focused group discussions and observations. Data for the study was secured from person directly resident adjacent forest in 29 villages. The study shows that apart from being asource of food and medicine, forest first served as settlement and refuge sites for the Nso, Mbiame and Oku people. Today, forest serves as cemetery for the fons (kings), and host shrines which have become conservation hot spots and nurseries for engendered plants and animal species, where the Nso, Mbiame and Oku also performed sacrifices. These conservation hot spots help to sustain the forest in montane ecosystems where pressure on land and forest is high and on the rise. Due to population pressure and limited grazing the grassland compartments in the above forests have been transformed into grazing ground. The long period of intercourse between the Nso, Mbiame, Oku people and their forest enabled them to accumulate rich and useful knowledge of the forest and established customary (non- statutory or quasi-statutory) regulatory frameworks for effective management of forest resources to improve their livelihood and culture. Due to the depletion of forest and the adoption of stricter conservation policies, some forest activities particularly carving and hunting have decreased in intensity while some like Ngwa’a (royal hunt) has simply phased out due to the extinction of animal species which were hunted. The paper recommends that traditional systems of managing forest be reinforced to enhance the conservation of resources in sacred groves that are nurseries for threatened and extinct species in degraded ecosystems. The state should recognise and integrate non-statutory forestry policy frameworks established in the Nso, Mbiame and Oku into the national forestry policy as village-based institutions for the management of land and forest in forest communities. The government should also empower traditional authorities (Fon,Nwerong and Lanlords (ataangven) and support reforestation and forest restoration programmes formulated by them. This is because laws put in place by these institutions are respected in the most part by their subjects without being forced to do so, unlike in the Ngongbaa and Kilum forests managed by the state, where forestry laws are permanently violated by local people who consider forestry authorities as state agents who are depriving them of their right of tenure and usufruct. This would likely help to maintain biodiversity and knowledge attached to it, which is gradually disappearing due to forest depletion.

BIM and IFC Data Readiness for AI Integration in the Construction Industry: A Review Approach

Building Information Modelling (BIM) has been increasingly integrated with Artificial Intelligence (AI) solutions to automate building construction processes. However, the methods for effectively transforming data from BIM formats, such as Industry Foundation Classes (IFC), into formats suitable for AI applications still need to be explored. This paper conducts a Systematic Literature Review (SLR) following the PRISMA guidelines to analyse current data preparation approaches in BIM applications. The goal is to identify the most suitable methods for AI integration by reviewing current data preparation practices in BIM applications. The review included a total of 93 articles from SCOPUS and WoS. The results include eight common data types, two data management frameworks, and four primary data conversion methods. Further analysis identified three barriers: first, the IFC format’s lack of support for time-series data; second, limitations in extracting geometric information from BIM models; and third, the absence of established toolchains to convert IFC files into usable formats. Based on the evidence, the data readiness is at an intermediate level. This research may serve as a guideline for future studies to address the limitations in data preparation within BIM for AI integration.

Spatial heterogeneity and interacting intensity of drivers for trade-offs and synergies between carbon sequestration and biodiversity

Global crises of biodiversity loss and climate change highlighted the urgent need to understand the trade-off and synergy between carbon sequestration and biodiversity and the driving mechanisms behind them. However, existing research on driving mechanisms primarily focused on the influence of independent variables on dependent variables, neglecting the interaction between independent variables. The InVEST and PLUS models were utilized in this study to evaluate the dynamics of carbon sequestration and biodiversity in the Chishui River Basin, Southwest of China. By integrating the factor detection of the Geographic Detector and the Multi-scale Geographically Weighted Regression (MGWR) model, this study identified the key drivers affecting trade-off and synergy and revealed their spatial heterogeneity. Furthermore, utilizing the interaction detection of the Geographic Detector and the Geographic Cross-Convergence Mapping (GCCM) model, this study analyzed the interaction direction and interaction intensity among key drivers. The results showed that: (1) From 2012–2035, the total values of carbon sequestration and biodiversity exhibited an overall increasing trend, with 58.49 % of the area showing trade-off effects, 23.86 % showing positive synergy, and 17.65 % showing negative synergy. (2) Elevation, slope, topographic relief, temperature, and land use intensity were identified as key factors influencing trade-off and synergy, and these factors displayed significant spatial heterogeneity. (3) When multiple drivers interacted, their explanatory power for trade-off and synergy increased significantly. The interaction patterns among drivers presented a “topography➙climate↔human activity↔distance➙soil” structure, where human activity interacted bidirectionally with other factors, with the strongest interaction occurring between climate factors and human activity. This study advanced the understanding of the driving mechanisms behind trade-off and synergy through MWGR and GCCM model. Based on the supply-demand theory, a synergistic management framework was proposed to emphasize the “pattern-process-service-feedback” nexus. The hotspot areas identified through scenario simulation could be used for synergistic enhancement of carbon sequestration and biodiversity.

Innovating Through Public–Private Partnership

The article titled Innovating through Public-Private Partnership, explores the potential of public-private partnerships (PPP) as a means to foster innovation, economic stabilization, and sustainable community development. It highlights how the collaboration between public administration authorities and private or non-governmental sectors can address pressing societal challenges, including global warming, healthcare modernization, and technological advancements. The research outlines the essential components of PPPs, including financial models, management frameworks, and project evaluation criteria, with a particular focus on innovation-driven initiatives. Various stages of establishing a successful PPP are examined, from project conceptualization and partner selection to implementation and performance monitoring. Furthermore, the paper delves into the importance of funding methods and risk management, demonstrating how a well-structured PPP can combine public and private resources to deliver public goods effectively. The article also provides insights into sector-specific innovation strategies, such as digitalization and renewable energy projects. The case for renewable energy production through PPPs, involving solar and wind energy, is highlighted as a sustainable development model that strengthens collaboration between public and private sectors. By analyzing a five-year history of PPP projects in Europe and providing forecasts for the future, the paper underscores the growing relevance of PPPs in achieving long-term goals for economic and infrastructural development. The study concludes with recommendations for fostering a conducive environment for PPPs, such as legislative reform, the creation of national databases, and investment in education and training to enhance the success and innovation potential of PPPs.

Development of a total quality management framework for the mobile network operations Centre

Telecommunication is one of the most fast-paced and rapidly changing sectors globally. This study develops a total quality management (TQM) framework for mobile network operation centres (NOC) to aid in network surveillance and fault management processes for a 5G transmission network. A systematic literature review was conducted using academic articles in journals and conference papers sourced from the EBSCOHost database. A fuzzy analytic hierarchical process (FAHP) was used as a multi-criteria decision-making tool to determine which criteria and factors are of the highest ranking for the development of the TQM framework. Data collection and control sheets were ranked higher, making them critical to the framework. This shows that, without good data, no problems can be identified, visualised, analysed, and solved and processes will not be improved. Process improvement is ranked last, showing it is of the lowest priority compared to the other criteria. This however, does not imply that in TQM it is of lower priority, as it is needed to keep meeting the needs of the customers. The framework includes how the TQM tools and techniques can be used in collecting, visualising, analysing, solving problems, and improving processes.

A Cooperative Multi-Agent Q-Learning Control Framework for Real-Time Energy Management in Energy Communities

Residential and commercial buildings are responsible for 35% of the EU energy-related greenhouse gas (GHG) emissions. Reducing their emissions is crucial for meeting the challenging EU objective of the agenda for becoming a net-zero continent by 2050. The diffusion and integration of distributed renewable energy sources (RESs) and energy storage systems (ESSs), as well as the creation of energy communities (ECs), have proven to be crucial aspects in reducing GHG emissions. In this context, this article proposes a multi-agent AI-based control framework to solve the EC’s energy management problem in the presence of distributed RESs and ESSs as well as considering a shared ESS. The objectives of the proposed control framework are to satisfy the EC members’ load demand to maximize self-consumption and to manage ESSs charging and discharging processes, to enforce cooperative behavior among the EC members by adopting fair and personalized strategies and to maximize EC members’ profits. The proposed control procedure is based on three sequential stages, each solved by a dedicated local RL agent exploiting the Q-Learning algorithm. To reduce the computational complexity of the proposed approach, specifically defined state aggregation criteria were defined to map the RL agents’ continuous state spaces into discrete state spaces of limited dimensions. During the training phase, the EC members’ profiles and the ESSs’ and RESs’ characteristics were randomly changed to allow the RL agents to learn the correct policy to follow in any given scenario. Simulations proved the effectiveness of the proposed approach for different costumers’ load demand profiles and different EC configurations. Indeed, the trained RL agents proved to be able to satisfy the EC members’ load demands to maximize self-consumption, to correctly use the distributed and shared ESSs, to charge them according to respective personalized criteria and to sell the energy surplus, prioritizing sales to the EC. The proposed control framework also proved to be a useful tool for understanding EC performance in different configurations and, thus, for properly dimensioning the EC elements.

The interplay of resilience, stress, mental wellbeing and task performance: Implications for sustainable workplaces

Understanding relationships between stress, resilience, mental wellbeing, and task-performance is critical for success in today’s sustainable workplaces. Thus, we aimed to analyse and develop a management framework to deal with this criticality. Inspired by Salutogenesis theory – prioritizing positive variables over the absence of negative ones, our emphasis was on resilience and mental wellbeing for stress management and improving task performance. Data from 445 employees was collected by a survey instrument employing standardised scales. Reliability and validity of constructs were established through the measurement model, while the structural model tested the strength of the relationships. Low stress and high resilience were identified as having a strong effect on mental wellbeing, which in-turn improved task-performance. This study highlights that resilience and mental wellbeing, in addition to stress management, significantly improves task performance for sustainable workplaces.

An integrated food management framework: A preventive measure for food scarcity during the Prabowo Subianto administration

The Food and Agriculture Organization (FAO) reported in 2024 that Indonesia is at risk of facing a future food crisis if adequate food supply is not ensured. A critical aspect of food management in Indonesia lies in its management systems. Thus, this study aims to review the extent to which food management under the Joko Widodo administration has been integrated to address food shortages. Further, this study will develop an integrated food management system as an alternative to prevent food scarcity during the Prabowo Subianto administration. The methodology involves a literature review and in-depth interviews with stakeholders involved in managing the national food reserve. Findings indicate that food management in Indonesia remains fragmented and lacks integration between central and local governments, hindering effective food management during periods of scarcity. Based on an online website, the proposed integrated food management framework aims to simplify national food management and prevent food shortages.

Constituents over Correlation: Indicators and Arctic Urban Decision-Making

Arctic city mayors influence municipal sustainability outcomes, navigating decisions on waste management, social service funding, and economic development. How do mayors make these decisions and to what extent do they integrate sustainability indicator data? Interviews with the mayors of Fairbanks, Alaska, Yellowknife, Canada, and Luleå, Sweden, revealed indicators are used on a case-by-case basis to track trends but lack systematic integration into decision-making. Constituent concerns drive agendas rather than indicator trends. Based on International Organization for Standardization (ISO) guidelines, 128 indicators grouped into 19 sustainability themes were compiled from 2000 to 2019 for the study cities. Partial Least Squares Structural Equation Modeling (PLS-SEM) was applied to examine the utility of ISO indicators as a guiding factor for sustainability trend tracking, identifying key themes for each city. Results show that indicator trends are too inconsistent and interconnected to be useful as an independent form of guidance for mayors. For Arctic municipalities, sustainability indicator datasets are useful in specific circumstances, but they do not provide the same kind of decision-making heuristic that mayors receive from direct constituent interaction. Findings emphasize the importance of more robust data collection and the development of management frameworks that support sustainability decision-making in Arctic cities.

A Review on Endangered Medicinal Plants of Melghat Forest in Amravati District

The Melghat Forest, located in the Western Ghats region of Maharashtra, is known for its rich biodiversity including a variety of plant and animal species. However, like many other forested area, the Melghat Forest is facing threats from various anthropogenic activities, such as deforestation, habitat destruction, and the introduction of exotic species. (Sharma, 2015) To address these challenges, the state government has implemented various conservation measures, including the establishment of a threatened fauna management framework. Some of these endangered medicinal plants are Saussaureea lappa, Picorrhiza kurroa, Ginkgo Biloba, Swertia chirata,Gymnema sylvestre,Tinospora cordifolia,Salaca oblonga,Holostemma,Celastrus paniculata,Oroxylum indicum, Glycyrrhiza glabra,Typophora indica,Bacopa monnieri,Rauwolfia serpentine. The most important species in these forests is Teak(Tectona Grandis).Teak forests occupy over 11500 sq.km.area which is about 1/5 of the area under forest department.The present investigation of some of the plants which are more important to human healthcare and may be extinct in future.

Subscriber retention management: SRM framework and future research agenda

PurposeThis article aims to systematically review the fragmented but increasingly relevant research field of customer retention management in subscription scenarios, proposing the subscriber retention management framework for retention management in subscription settings and directing future research.Design/methodology/approachThe authors systematically reviewed 1,295 articles to offer a comprehensive, unbiased overview on customer retention management in subscription-based services. From 122 selected articles, the authors conducted a descriptive analysis, conceptualized key insights into a novel framework and recognized research gaps.FindingsAmong 122 articles, 111 focus on private customers across various service sectors, while lacking reflection on new digital industries, reactive retention and the corporate context. The conceptualization of results merges existing insights into seven dimensions, encompassing strategic and tactical aspects and the interplay of controllable and uncontrollable factors. The authors also outline 12 emerging research directions.Research limitations/implicationsGiven the extensive body of literature, the authors were unable to delve into detailed explanations. The findings are limited to management science research sourced from Scopus, adhering to a rigorous filtering process. Sub-domains, such as reactive or business-to-business retention management, remain somewhat provisional due to little results.Practical implicationsA sustainable subscriber retention strategy hinges on: (1) integrating retention into business strategy, (2) adjusting acquisition and retention tactics to specific markets and (3) using a consistent retention marketing mix considering affective, calculative and habitual commitment factors.Originality/valueThe authors contribute with a first systematic review of subscription-specific retention management in a rapidly growing area. This results in a novel framework that broadens the understanding of subscriber retention and identifies research gaps.

Process Management Framework for Health and Safety at Work (SST) Companies

Objective: This study aims to develop and implement a process management framework for Occupational Safety and Health (OSH) companies, seeking to optimize the organization and execution of services, identifying improvement opportunities throughout the customer journey, from contract closure to renewal. The proposal is to offer an adaptable model that meets industry demands and enhances the operational efficiency of companies. Theoretical Framework: The theoretical framework addresses the evolution of Regulatory Standards (NRs) since the 1970s and the importance of complying with labor laws for the safety and health of workers in Brazil. The role of eSocial, created in 2014 to unify and ensure the collection of employer information, is highlighted, as well as its function in alerting them to legal risks. Method: The methodology used was action research, as defined by Oquist (1978). The research involved mapping the operational processes of OSH companies to identify areas for improvement. The first version of the framework was developed, tested, and based on the results, improved into a second version. The improvements were based on tests and validations conducted throughout the process. Results and Discussion: The first version of the framework showed positive results but also highlighted the need for improvements, which were incorporated into the second version. Changes included the restructuring of steps and the addition of a new phase focused on the commercial process. Satisfaction surveys with internal and external clients, as well as accounting firms, indicated positive acceptance but also a lack of systemic vision among professionals, affecting the quality of the work. Research Implications: The research implications are significant for the OSH sector. The developed framework improves the organization and efficiency of service-providing companies. The study also highlights the importance of performance indicators to monitor performance and mitigate risks, such as customer loss. It is recommended that future research explore the adaptation of the framework to new technologies and automation. Originality/Value: The originality of this study lies in the creation of a process management framework specifically for OSH companies, where organization and efficiency are essential for complying with labor regulations and ensuring worker safety. The value of the work resides in its practical contribution to the sector, offering an adaptable model that can be improved based on feedback and technological advancements.

Cybersecurity and Privacy Issues in Extended Reality Health Care Applications: Scoping Review

Abstract Background Virtual reality (VR) is a type of extended reality (XR) technology that is seeing increasing adoption in health care. There is robust evidence articulating how consumer-grade VR presents significant cybersecurity and privacy risks due to the often ubiquitous and wide range of data collection and user monitoring, as well as the unique user impact of attacks due to the immersive nature of the technology. However, little is known about how these risks translate in the use of VR systems in health care settings. Objective The objective of this scoping review is to identify potential cybersecurity risks associated with clinical XR systems, with a focus on VR, and potential mitigations for them. Methods The scoping review followed the PRISMA-ScR (Preferred Reporting Items for Systematic reviews and Meta-Analyses extension for Scoping Reviews), and publications were reviewed using Covidence software. The Google Scholar database was searched using the predefined search terms. The inclusion criteria of the articles were restricted to relevant primary studies published from 2017 to 2024. Furthermore, reviews, abstracts, viewpoints, opinion pieces, and low-quality studies were excluded. Additionally, data on publication statistics, topic, technology, cyber threats, and risk mitigation were extracted. These data were synthesized and analyzed using the STRIDE (spoofing, tampering, repudiation, information disclosure, denial of service, and elevation of privilege) framework, enterprise risk management framework, and National Institute of Standards and Technology Cybersecurity Framework, as well as developing threat taxonomies. Results Google Scholar returned 482 articles that matched the search criteria. After title and abstract screening, 53 studies were extracted for a full-text review, of which 29 were included for analysis. Of these, the majority were published in the last 4 years and had a focus on VR. The greatest cyber threat identified to XR components was information disclosure followed by tampering when mapped against the STRIDE framework. The majority of risk mitigation strategies provide confidentiality and integrity and can potentially address these threats. Only 3 of 29 papers mention XR in the context of health care and none of the identified threats or mitigations have been studied in a clinical setting. Conclusions This scoping review identified privacy threats where personal and health-related data may be inferred from VR usage data, potentially breaching confidentiality, as the most significant threat posited for health care VR systems. Additionally, immersive manipulation threats were highlighted, which could potentially risk user safety when launched from a compromised VR system. Many potential mitigations were identified for these threats, but these mitigations must first be assessed for their effectiveness and suitability for health care services. Furthermore, health care services should consider the usage and governance of XR for each individual application based on risk threshold and perceived benefits. Finally, it is also important to note that this scoping review was limited by the quality and scope of the studies returned by Google Scholar.