Search results for: emerging risks

Authors: Heeyeul Kwon, Yongtae Park

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Despite the highly touted benefits, emerging technologies have unleashed pervasive concerns regarding unintended and unforeseen social impacts. Thus, those wishing to create safe and socially acceptable products need to identify such side effects and mitigate them prior to the market proliferation. Various methodologies in the field of technology assessment (TA), namely Delphi, impact assessment, and scenario planning, have been widely incorporated in such a circumstance. However, literatures face a major limitation in terms of sole reliance on participatory workshop activities. They unfortunately missed out the availability of a massive untapped data source of futuristic information flooding through the Internet. This research thus seeks to gain insights into utilization of futuristic data, future-oriented documents from the Internet, as a supplementary method to generate social impact scenarios whilst capturing perspectives of experts from a wide variety of disciplines. To this end, network analysis is conducted based on the social keywords extracted from the futuristic documents by text mining, which is then used as a guide to produce a comprehensive set of detailed scenarios. Our proposed approach facilitates harmonized depictions of possible hazardous consequences of emerging technologies and thereby makes decision makers more aware of, and responsive to, broad qualitative uncertainties.

Keywords: Emerging technologies, futuristic data, scenario, text mining.

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Authors: Caroline Foulquier-Expert

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In many states around the world, actions to improve judicial ethics are developing significantly through the production of professional standards for judges. The quest to improve the ethics of judges is legitimate. However, as this development tends to be very important at the moment, some risks it presents must be highlighted. Indeed, if the objective of improving Judges’ Ethics is legitimate, it can also lead to banalization of justice, reinforcement of criticism against the judiciary and to broach incidentally the question of the limits of judgment, which is most perilous for the independence of the judiciary. This research, based on case studies, interviews with judges and an analysis of the literature on this topic (mainly from the United States of America and European Union Member States), tends to draw attention to the fact that the result of the development of these professional standards is that the ethical requirements of judges become ethical requirements of justice, which is an undesirable effect of which we must be aware, in order to prevent it.

Keywords: Judicial Ethics, Codes of conduct, Independence, Limits of Judgment.

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Authors: E. Harrer, M. Mauerhofer, T. Werginz

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As a result of intensive competition, the building sector is suffering from a high degree of rivalry. Furthermore, there can be observed an unbalanced distribution of project risks. Clients are aimed to shift their own risks into the sphere of the constructors or planners. The consequence of this is that the number of conflicts between the involved parties is inordinately high or even increasing; an alternative approach to counter on that developments are cooperative project forms in the construction sector. This research compares conventional contract models and models with partnering agreements to examine the influence on project risks by an early integration of the involved parties. The goal is to show up deviations in different project stages from the design phase to the project transfer phase. These deviations are evaluated by a survey of experts from the three spheres: clients, contractors and planners. By rating the influence of the participants on specific risk factors it is possible to identify factors which are relevant for a smooth project execution.

Keywords: Collaborative work, construction industry, contract-models, influence, partnering, project management, risk.

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Authors: Jayaletchumi T. Sambantha Moorthy, Suhaimi bin Ibrahim, Mohd Naz’ri Mahrin

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Most quality models have defined usability as a significant factor that leads to improving product acceptability, increasing user satisfaction, improving product reliability, and also financially benefitting companies. Usability is also the best factor that balances both the technical and human aspects of a software product, which is an important aspect in defining quality during software development process. A usability risk consist risk factors that could impact the usability of a software product thereby contributing to negative user experiences and causing a possible software product failure. Hence, it is important to mitigate and reduce usability risks in the software development process itself. By managing possible usability risks in software development process, failure of software product could be reduced. Therefore, this research uses the Delphi method to identify mitigation plans for reducing potential usability risks. The Delphi method is conducted with seven experts from the field of risk management and software development.

Keywords: Usability, Usability Risk, Risk Management, Risk Mitigation, Delphi Method.

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Authors: Guanqun Shi, Xueqing Zhang

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The frequent occurrence of failures in PPP projects which caused great loss has raised attention from the government as well as the concessionaire. PPPs are complex arrangements for its long operation period and multiple players. Many types of risks in PPP projects may cause the project fail. The insurance is an important tool to transfer the risks. Through a comparison and analysis of international government PPP guidelines and contracts as well as the case studies worldwide, we have identified eight main insurance principles, discussed thirteen insurance types in different stages. An overall procedure would be established to improve the practices in PPP projects.

Keywords: Public-private partnerships, insurance, contract, risk.

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Authors: M. Izvercianu, L. Ivascu

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This paper presents an innovative computer system that contributes to sustainable development of the enterprise. The research refers to a rethinking of traditional systems of collaboration and risk assessment, present in any organization, leading to a sustainable enterprise. This concept integrates emerging tools that allow the implementation and exploitation of the collective intelligence of the enterprise, allowing the exchange of contextual, agile and simplified information, and collaboration with networks of customers and partners in an environment where risks are controlled. Risk assessment is done in a systemic way: the enterprise as the system compared to the contained departments and the enterprise as a subsystem compared to: families of international standards and sustainability-s responsibilities. The enterprise, in this systemic vision, responds to the requirements that any existing system to operate continuously in an indefinite future without reaching key resource depletion. The research is done by integrating collaborative science, engineering, management, psychology, obtaining thus a cornerstone of sustainable development of the enterprise.

Keywords: Enterprise 2.0, ISO, Risk management, Sustainable development

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Authors: Nancy Jennings, Chris Collins

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Educational institutions are increasingly exploring the affordances of 3D virtual worlds for instruction and research, but few studies have been done to document current practices and uses of this emerging technology. This observational survey examines the virtual presences of 170 accredited educational institutions found in one such 3D virtual world called Second Life®, created by San- Francisco based Linden Lab®. The study focuses on what educational institutions look like in this virtual environment, the types of spaces educational institutions are creating or simulating, and what types of activities are being conducted.

Keywords: educational technology, emerging technology, metaverse, Second Life, virtual worlds

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Authors: N.M. Museisi

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This is a cross-cultural study that determines South African multinational enterprises (MNEs) entry strategies as they invest in Africa. An integrated theoretical framework comprising the transaction cost theory, Uppsala model, eclectic paradigm and the distance framework was adopted. A sample of 40 South African MNEs with 415 existing FDI entries in Africa was drawn. Using an ordered logistic regression model, the impact of culture on the choice of degree of control by South African MNEs in Africa was determined. Cultural distance was one of significant factors that influenced South African MNEs- choice of degree of control. Furthermore, South African MNEs are risk averse in all countries in Africa but minimize the risks differently across sectors. Service sectors chooses to own their subsidiaries 100% and avoid dealing with the locals while manufacturing, resources and construction choose to have a local partner to share the risk.

Keywords: Cross-cultural, emerging MNEs, entry strategies, internationalization.

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Authors: Magdalena Escamilla Quintal, Thelma Cetina Canto, Cecilia Aguilar Ortega

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Due to the importance that people represent for companies, the setting of a clear control of the risks that threaten the health and the material and financial resources of workers is essential. It is irrelevant if the company is a small and medium-sized enterprise (SME) or a large multinational, or if it is in the construction or service sector. The risk prevention importance is related to a constitutional and human right that all people have; working in a risk-free environment to prevent accidents or illnesses that may influence their quality of life and the tranquility of their family. Therefore, the objective of this study was to determine the level of psychosocial risks (physical and emotional) of the employees of an SME. The participants of this study were 186 employees of a productive sector SME; 151 men and 35 women, all with an average age of 31.77 years. Their seniority inside the SME was between one month and 19.91 years. Ninety-six workers were from the production area, 28 from the management area, as well as 25 from the sales area and 40 from the supplies area. Ninety-three workers were found in Uman, 78 in Playa del Carmen, 11 in Cancun and seven in Cd. del Carmen. We found a statistically significant relationship between the burnout variable and the engagement and psychosomatic complaints as well as between the variables of sex, burnout and psychosomatic complaints. We can conclude that, for benefit of the SME, that there are low levels of burnout and psychosomatic complaints, the women experience major levels of burnout and the men show major levels of psychosomatic complaints. The findings, contributions, limitations and future proposals will be analyzed.

Keywords: Psychosocial risks, SME, burnout, engagement, psychosomatic complaints.

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Authors: Olga Novikova, Timo Vuori

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This paper describes topology of business models in market ecosystem of the emerging electric mobility industry. The business model topology shows that firm-s participation in the ecosystem is associated with different requirements on resources and capabilities, and different levels of risk. Business model concept is used together with concepts of networked value creation and shows that firms can achieve higher levels of sustainable advantage by cooperation, not competition. Hybrid business models provide companies a viable alternative possibility for participation in the market ecosystem.

Keywords: Business model, ecosystem, topology.

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Authors: Maithem Al-Saadi, Min An

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During airport planning and design stages, the major issues of capacity and safety in construction and operation of an airport need to be taken into consideration. The airside of an airport is a major and critical infrastructure that usually consists of runway(s), taxiway system, and apron(s) etc., which have to be designed according to the international standards and recommendations, and local limitations to accommodate the forecasted demands. However, in many cases, airport airsides are suffering from unexpected risks that occurred during airport operations. Therefore, safety risk assessment should be applied in the planning and design of airsides to cope with the probability of risks and their consequences, and to make decisions to reduce the risks to as low as reasonably practicable (ALARP) based on safety risk assessment. This paper presents a combination approach of Failure Modes, Effect, and Criticality Analysis (FMECA), Fuzzy Reasoning Approach (FRA), and Fuzzy Analytic Hierarchy Process (FAHP) to develop a risk analysis model for safety risk assessment. An illustrated example is used to the demonstrate risk assessment process on how the design of an airside in an airport can be analysed by using the proposed safety design risk assessment model.

Keywords: Airport airside planning and design, design for safety, fuzzy reasoning approach, fuzzy AHP, risk assessment.

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Authors: Amir Ikram, Qin Su, Muhammad Fiaz, Muhammad Waqas Shabbir

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Women entrepreneurship witnessed a healthy rise in the last decade or so, and the scenario in Pakistan is not different. However female leaders are facing various, cultural, career oriented, and professional challenges. The study investigates the impact of social and industry-specific challenges on female entrepreneurship; social challenges was evaluated in terms of culture, and industry-specific challenges was measured in terms of team management and career growth. Purposive sampling was employed to collect data from 75 multicultural organizations operating in the culturally diverse and historic city of Lahore, Pakistan. Cronbach’s alpha was conducted to endorse the reliability of survey questionnaire, while correlation and regression analysis were used to test hypotheses. Industry-specific challenges were found to be more significant as compared to cultural factors. The paper also highlights the importance of female entrepreneurship for emerging economies, and suggests that bringing women to mainstream professions can lead to economic success.

Keywords: Cultural challenges, emerging economy, female entrepreneurship, leadership.

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Authors: Dinna N. M. N., Leau Y. B., Habeeb S. A. H., Yanti A. S.

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Phishing scheme is a new emerged security issue of E-Commerce Crime in globalization. In this paper, the legal scaffold of Malaysia, United States and United Kingdom are analyzed and followed by discussion on critical issues that rose due to phishing activities. The result revealed that inadequacy of current legal framework is the main challenge to govern this epidemic. However, lack of awareness among consumers, crisis on merchant-s responsibility and lack of intrusion reports and incentive arrangement contributes to phishing proliferating. Prevention is always better than curb. By the end of this paper, some best practices for consumers and corporations are suggested.

Keywords: Phishing, Online Fraud, Business risks, Consumers privacy, Legal Issue, Cyber law.

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Authors: M. Ndaw, G. Mendy, S. Ouya

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Information system risk management helps to reduce or eliminate risk by implementing appropriate controls. In this paper, we propose a quantification model of controls impact on information system risks by automatizing the residual criticality estimation step of FMECA which is based on a inductive reasoning. For this, we defined three equations based on type and maturity of controls. For testing, the values obtained with the model were compared to estimated values given by interlocutors during different working sessions and the result is satisfactory. This model allows an optimal assessment of controls maturity and facilitates risk analysis of information system.

Keywords: Information System, Risk, Control, FMECA.

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Authors: P. Aragonés-Beltrán, F. Chaparro-González, J. P. Pastor Ferrando, M. García-Melón

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In this paper the Analytic Network Process (ANP) is applied to the selection of photovoltaic (PV) solar power projects. These projects follow a long management and execution process from plant site selection to plant start-up. As a consequence, there are many risks of time delays and even of project stoppage. In the case study presented in this paper a top manager of an important Spanish company that operates in the power market has to decide on the best PV project (from four alternative projects) to invest based on risk minimization. The manager identified 50 project execution delay and/or stoppage risks. The influences among elements of the network (groups of risks and alternatives) were identified and analyzed using the ANP multicriteria decision analysis method. After analyzing the results the main conclusion is that the network model can manage all the information of the real-world problem and thus it is a decision analysis model recommended by the authors. The strengths and weaknesses ANP as a multicriteria decision analysis tool are also described in the paper.

Keywords: Multicriteria decision analysis, Analytic Network Process, Photovoltaic solar power projects.

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Authors: Syed Kamarul Bakri Syed Ahmad Bokharey, Kalaikumar Vallyutham, Narayanan Sambu Potty, Nabilah Abu Bakar

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Infrastructure investments are important in developing countries, it will not only help to foster the economic growth of a nation, but it will also act as a platform in which new forms of partnership and collaboration can be developed mainly in East Asian countries. Since the last two decades, many infrastructure projects had been completed through build-operate-transfer (BOT) type of procurement. The developments of BOT have attracted participation of local and foreign private sector investor to secure funding and to deliver projects on time, within the budget and to the required specifications. Private sectors are preferred by the government in East Asia to participate in BOT projects due to lack of public funding. The finding has resulted that the private sector or promoter of the BOT projects is exposed to multiple risks which have been discussed in this paper. Effective risk management methods and good managerial skills are required in ensuring the success of the project. The review indicated that mitigation measures should be employed by the promoter throughout the concession period and support from the host government is also required in ensuring the success of the BOT project.

Keywords: BOT project, risks management, concessionaire, consortium.

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Authors: František Bozek, Alexandr Bozek, Alena Bumbova, Eduard Bakos, Jiri Dvorak

Abstract:

The article deals with the classification of alternative water resources in terms of potential risks which is the prerequisite for incorporating these water resources to the emergency plans. The classification is based on the quantification of risks resulting from possible damage, disruption or total destruction of water resource caused by natural and anthropogenic hazards, assessment of water quality and availability, traffic accessibility of the assessed resource and finally its water yield. The aim is to achieve the development of an integrated rescue system, which will be capable of supplying the population with drinking water on the whole stricken territory during the states of emergency.

Keywords: Classification, Emergency Supply, Risk, Water Standby Resource.

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Authors: Mikhail V. Khachaturyan

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The article analyzes problems of improving the management systems of the ownership risks in the conditions of the transformation of the Russian economy. Among the main sources of threats business owners should highlight is the inefficiency of the implementation of business models and interaction with hired managers. In this context, it is particularly important to analyze the relationship of business models and ownership risks. The analysis of this problem appears to be relevant for a number of reasons: Firstly, the increased risk appetite of the owner directly affects the business model and the composition of his holdings; secondly, owners with significant stakes in the company are factors in the formation of particular types of risks for owners, for which relations have a significant influence on a firm's competitiveness and ultimately determines its survival; and thirdly, inefficient system of management ownership of risk is one of the main causes of mass bankruptcies, which significantly affects the stable operation of the economy as a whole. The separation of the processes of possession, disposal and use in modern organizations is the cause of not only problems in the process of interaction between the owner and managers in managing the organization as a whole, but also the asymmetric information about the kinds and forms of the main risks. Managers tend to avoid risky projects, inhibit the diversification of the organization's assets, while owners can insist on the development of such projects, with the aim not only of creating new values for themselves and consumers, but also increasing the value of the company as a result of increasing capital. In terms of separating ownership and management, evaluation of projects by the ratio of risk-yield requires preservation of the influence of the owner on the process of development and making management decisions. It is obvious that without a clearly structured system of participation of the owner in managing the risks of their business, further development is hopeless. In modern conditions of forming a risk management system, owners are compelled to compromise between the desire to increase the organization's ability to produce new value, and, consequently, increase its cost due to the implementation of risky projects and the need to tolerate the cost of lost opportunities of risk diversification. Improving the effectiveness of the management of ownership risks may also contribute to the revitalization of creditors on implementation claims to inefficient owners, which ultimately will contribute to the efficiency models of ownership control to exclude variants of insolvency. It is obvious that in modern conditions, the success of the model of the ownership of risk management and audit is largely determined by the ability and willingness of the owner to find a compromise between potential opportunities for expanding the firm's ability to create new value through risk and maintaining the current level of new value creation and an acceptable level of risk through the use of models of diversification.

Keywords: Risk management, ownership risks, economic transformation, Russian economy, management systems.

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Authors: Stefaan Pauwels, Koen Inghelbrecht, Dries Heyman, Pieter Marius

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Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of this study is to investigate the effectiveness of technical trading rules in 34 emerging stock markets. The performance of the rules is evaluated by utilizing White-s Reality Check and the Superior Predictive Ability test of Hansen, along with an adjustment for transaction costs. These tests are able to evaluate whether the best model performs better than a buy-and-hold benchmark. Further, they provide an answer to data snooping problems, which is essential to obtain unbiased outcomes. Based on our results we conclude that technical trading rules are not able to outperform a naïve buy-and-hold benchmark on a consistent basis. However, we do find significant trading rule profits in 4 of the 34 investigated markets. We also present evidence that technical analysis is more profitable in crisis situations. Nevertheless, this result is relatively weak.

Keywords: technical trading rules, Reality Check, Superior Predictive Ability, emerging stock markets, data snooping

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Authors: Mária Hudáková, Vladimír Míka, Katarína Hollá

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Making decisions is the core of management and a result of conscious activities which is under way in a particular environment and concrete conditions. The managers decide about the goals, procedures and about the methods how to respond to the changes and to the problems which developed. Their decisions affect the effectiveness, quality, economy and the overall successfulness in every organisation. In spite of this fact, they do not pay sufficient attention to the individual steps of the decision-making process. They emphasise more how to cope with the individual methods and techniques of making decisions and forget about the way how to cope with analysing the problem or assessing the individual solution variants. In many cases, the underestimating of the analytical phase can lead to an incorrect assessment of the problem and this can then negatively influence its further solution. Based on our analysis of the theoretical solutions by individual authors who are dealing with this area and the realised research in Slovakia and also abroad we can recognise an insufficient interest of the managers to assess the risks in the decision-making process. The goal of this paper is to assess the risks in the managers´ decision-making process relating to the conditions of the environment, to the subject’s activity (the manager’s personality), to the insufficient assessment of individual variants for solving the problems but also to situations when the arisen problem is not solved. The benefit of this paper is the effort to increase the need of the managers to deal with the risks during the decision-making process. It is important for every manager to assess the risks in his/her decision-making process and to make efforts to take such decisions which reflect the basic conditions, states and development of the environment in the best way and especially for the managers´ decisions to contribute to achieving the determined goals of the organisation as effectively as possible.

Keywords: Risk, decision-making, manager, process, analysis, source of risk.

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Authors: Frantisek Bozek, Alena Bumbova, Eduard Bakos

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Paper is dealing with vulnerability concerning elements of hydrological structures and elements of technological equipments which are acceptable for groundwater resources. The vulnerability assessment stems from the application of the register of hazards and a potential threat to individual water source elements within each type of hazard. The proposed procedure is pattern for assessing the risks of disturbance, damage, or destruction of water source by the identified natural or technological hazards and consequently for classification of these risks in relation to emergency water supply. Using of this procedure was verified on selected groundwater resource in particular region, which seems to be as potentially useful for crisis planning system.

Keywords: Hazard, Hydrogeological Structure, Elements, Index, Sensitivity, Water Source, Vulnerability

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Authors: Ulrich Berger, Yuliya Lebedynska, Veronica Vargas

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The right information at the right time influences the enterprise and technical success. Sharing knowledge among members of a big organization may be a complex activity. And as long as the knowledge is not shared, can not be exploited by the organization. There are some mechanisms which can originate knowledge sharing. It is intended, in this paper, to trigger these mechanisms by using semantic nets. Moreover, the intersection and overlapping of terms and sub-terms, as well as their relationships will be described through the mereology science for the whole knowledge sharing system. It is proposed a knowledge system to supply to operators with the right information about a specific process and possible risks, e.g. at the assembly process, at the right time in an automated manufacturing environment, such as at the automotive industry.

Keywords: Automated manufacturing, knowledge sharing, mereology, risk management, semantic net.

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Authors: Muhammad Naveed, Yang Caixia

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The need for national space legislation is pivotal, particularly in light of the fact that in recent years space activities have grown immensely both in volume and diversity. Countries are progressively developing capabilities in space exploration and scientific discoveries, market their capabilities to manufacture satellites, provide launch services from their facilities and are looking to privatize and commercialize their space resources. Today, nations are also seeking to comprehend the technological and financial potential of the private sector and are considering to share their financial burdens with them and to limit their exposures to risks, but they are lagging behind in legal framework in this regard. In the perspective of these emerging developments, it is therefore, felt that national space legislation should be enacted with the goal of building and implementing a vibrant and transparent legal framework at the national level to hasten investments and to ensure growth in this capital intensive - highly yield strategic sector. This study looks at (I) the international legal framework that governs space activities; (II) motivation behind making national space laws; and (III) the need for national space legislation. The paper concludes with some recommendations with regards to the conceivable future direction for national space legislation, in particular space empowered sub-areas for countries.

Keywords: International conventions, national legislation, space faring nation, space law.

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Authors: Berrin Şentürk

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In this study, due to the recurrence of bovine tuberculosis, in the same areas, the risk factors for the disease were determined and evaluated at the local level. This study was carried out in 32 farms where the disease was detected in the district and center of Samsun province in 2014. Predetermined risk factors, such as farm, environmental and economic risks, were investigated with the survey method. It was predetermined that risks in the three groups are similar to the risk variables of the disease on the global scale. These risk factors that increase the susceptibility of the infection must be understood by the herd owners. The risk-based contagious disease management system approach should be applied for bovine tuberculosis by farmers, animal health professionals and public and private sector decision makers.

Keywords: Bovine tuberculosis, disease management, control, outbreak, risk analysis.

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Authors: Ritsuko Kawasaki (Aiba), Takeshi Hiromatsu

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Management is required to understand all information security risks within an organization, and to make decisions on which information security risks should be treated in what level by allocating how much amount of cost. However, such decision-making is not usually easy, because various measures for risk treatment must be selected with the suitable application levels. In addition, some measures may have objectives conflicting with each other. It also makes the selection difficult. Therefore, this paper provides a model which supports the selection of measures by applying multi-objective analysis to find an optimal solution. Additionally, a list of measures is also provided to make the selection easier and more effective without any leakage of measures.

Keywords: Information security risk treatment, Selection of risk measures, Risk acceptance and Multi-objective optimization.

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Authors: Marinela Mircea

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The development of information and communication technology, the increased use of the internet, as well as the effects of the recession within the last years, have lead to the increased use of cloud computing based solutions, also called on-demand solutions. These solutions offer a large number of benefits to organizations as well as challenges and risks, mainly determined by data visualization in different geographic locations on the internet. As far as the specific risks of cloud environment are concerned, data security is still considered a peak barrier in adopting cloud computing. The present study offers an approach upon ensuring the security of cloud data, oriented towards the whole data life cycle. The final part of the study focuses on the assessment of data security in the cloud, this representing the bases in determining the potential losses and the premise for subsequent improvements and continuous learning.

Keywords: cloud computing, data life cycle, data security, security assessment.

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Authors: Yaseein S. Hussein, Victor P. Gil Jiménez, Abdulmajeed Al-Jumaily

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Due to the rapid advancement of technology, there is an increasing demand for wireless connections that are both fast and reliable, with minimal latency. New wireless communication standards are developed every decade, and 2030 is expected to see the introduction of 6G. The primary objectives of 6G network and terminal designs are focused on sustainability and environmental friendliness. The International Telecommunication Union-Recommendation division (ITU-R) has established the minimum requirements for 6G, with peak and user data rates of 1 Tbps and 10-100 Gbps, respectively. In this context, Light Fidelity (Li-Fi) technology is the most promising candidate to meet these requirements. This article will explore the various advantages, features, and potential applications of Li-Fi technology, and compare it with 5G networking, to showcase its potential impact among other emerging technologies that aim to enable 6G networks.

Keywords: 6G Networks, artificial intelligence, AI, Li-Fi technology, terahertz communication, visible light communication.

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Authors: Marcelo Dias Carvalho, Leticia Ishikawa

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Supply Chain Risk Management refers to a set of strategies used by companies to avoid supply chain disruption caused by damage at production facilities, natural disasters, capacity issues, inventory problems, incorrect forecasts, and delays. Many companies use the techniques of the Toyota Production System, which in a way goes against a better management of supply chain risks. This paper studies key events in some multinationals to analyze the trade-off between the best supply chain risk management techniques and management policies designed to create lean enterprises. The result of a good balance of these actions is the reduction of losses, increased customer trust in the company and better preparedness to face the general risks of a supply chain.

Keywords: Supply chain disruptions, supply chain management, supply chain resilience, just-in-time production, lean manufacturing.

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Authors: Carolijn Van Noort

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The aim of this research is to understand how the emerging power bloc BRICS employs infrastructure development narratives to construct a new world order. BRICS is an international body consisting of five emerging countries that collaborate on economic and political issues: Brazil, Russia, India, China, and South Africa. This study explores the projection of infrastructure development narratives through an analysis of BRICS’ attention to infrastructure investment and financing, its support of the New Partnership on African Development and the establishment of the New Development Bank in Shanghai. The theory of Strategic Narratives is used to explore BRICS’ commitment to infrastructure development and to distinguish three layers: system narratives (BRICS as a global actor to propose development reform), identity narratives (BRICS as a collective identity joining efforts to act upon development aspirations) and issue narratives (BRICS committed to a range of issues of which infrastructure development is prominent). The methodology that is employed is a narrative analysis of BRICS’ official documents, media statements, and website imagery. A comparison of these narratives illuminates tensions at the three layers and among the five member states. Identifying tensions among development infrastructure narratives provides an indication of how policymaking for infrastructure development could be improved. Subsequently, it advances BRICS’ ability to act as a global actor to construct a new world order.

Keywords: BRICS, emerging powers, infrastructural development, strategic narratives.

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Authors: Oon-Seng Tan

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Human Computer Interaction (HCI) has been an emerging field that draws in the experts from various fields to enhance the application of computer programs and the ease of computer users. HCI has much to do with learning and cognition and an emerging approach to learning and problem-solving is problembased learning (PBL). The processes of PBL involve important cognitive functions in the various stages. This paper will illustrate how closely related fields to HCI, PBL and cognitive psychology can benefit from informing each other through analysing various cognitive functions. Several cognitive functions from cognitive function disc (CFD) would be presented and discussed in relation to human-computer interface. This paper concludes with the implications of bridging the gaps amongst these disciplines.

Keywords: problem-based learning, human computerinteraction, cognitive psychology, Cognitive Function Disc (CFD)

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