Development of risk factors taxonomy in ramp operations for corporate sustainability

Purpose This research has the potential to contribute to the understanding of the sustainable ground handling operations framework. Ramp operations as the main system of ground handling include critical services for aircraft/airlines. The purpose of this study is to identify the risk factors in ramp operations for all related stakeholders’ awareness to enhance flight safety. Classifying risk factors, the four main performance fields under risk taxonomy is determined. Thus, managers may allocate resources effectively to handle related threats for corporate sustainability. Design/methodology/approach New taxonomy with human performance value indicators, which sources from the environment is developed. New developed taxonomy is entitled as “environmental value approach,” which represents environmental value-based approach. The developed new risk factors taxonomy is divided into groups such as ramp personnel, organizational, sustainability-based risk factors: triple view and ergonomics obtained from an extensive literature review and experts’ opinions in the field of human performance. Findings The findings of this research show that managers need a risk management-oriented approach to manage the human factor affecting performance and sustainability. The newly developed taxonomy offers not only identifying the sources of unsafe operational risk factors but also using as a decision-support tool to manage risks for achieving their sustainability goals. When managerial decisions are made according to risk taxonomy and managing these risks, then corporate performance and individual performance may improve. Originality/value The new taxonomy presents the performance-based management of the human factor with a holistic and systematic risk management-based approach. There is no risk taxonomy study designed considering ramp operations and sustainability-based human factor performance.

USING THE CREATION OF A XBRL RISK TAXONOMY AS A DRIVER TO IMPROVE POST-CORONAVIRUS 10-K RISK DISCLOSURES

The coronavirus crisis has seen numerous well-known businesses fail, contradicting what they wrote in their own 2019 financial statements. 10-K risk disclosures now are largely boilerplate lists, failing to provide any information about what really matters to stakeholders: the nature of the risks that the business faces, what are their probabilities, how management is mitigating those risks and, therefore, what is the residual risk of the business. On the other hand, it is only a matter of time before risk disclosures are tagged in detail using XBRL, as the rest of the 10-K has progressively become. The process of creating a XBRL risk taxonomy is an opportunity to introduce a standardized language that will enable companies to disclose voluntarily better information to stakeholders. The process of creating a truly comprehensive XBRL risk taxonomy can fill the gap left by the absence of “generally accepted principles” for risk measurement and disclosure.

Climate Change Adaptation: Operational Taxonomy and Metrics

The development of adaptation indicators and metrics that can be aggregated and compared to support environmental management is a key challenge for climate experts, finance institutions, and decision-makers. To provide an operational ex-ante evaluation of alternative adaptation strategies, statistical evaluation was conducted on 1562 adaptation projects contained in the Nationally Determined Contributions (NDCs) submitted by almost all parties who signed the Paris Agreement in 2015. As a preliminary stage, we are suggesting a physical risk taxonomy derived from climate model databases and an adaptation project taxonomy using a text analysis. The second stage, consisting of an evaluation metric using a correspondence analysis between adaptation projects and risk classes, was inspired by the analogy with adaptation mechanisms in living organisms—assessing the correct correspondence between threats from the environment and adaptive solutions. It allowed us to develop a coefficient ranging from 0 to 1, expressing the degree of correspondence between adaptive measures’ categories and hazard levels, which we refer to as fitness. Our coefficient would make it possible to compare project classes with each other ex-ante or, conversely, to deduce the most relevant adaptation solutions from climate-change-related hazards. The fitness coefficient could also be used as a preliminary stage of assessment to create a short-list of adaptation projects that are relevant to address a given physical hazard with a given intensity.

Construction delay risk taxonomy, associations and regional contexts

Purpose The purpose of this paper is to systematically develop a delay risk terminology and taxonomy. This research also explores two external and internal dimensions of the taxonomy to determine how much the taxonomy as a whole or combinations of its elements are generalisable. Design/methodology/approach Using mixed methods research, this systematic literature review incorporated data from 46 articles to establish delay risk terminology and taxonomy. Qualitative data of the top 10 delay risks identified in each article were coded based on the grounded theory and constant comparative analysis using a three-stage coding approach. Word frequency analysis and cross-tabulation were used to develop the terminology and taxonomy. Association rules within the taxonomy were also explored to define risk paths and to unmask associations among the risks. Findings In total, 26 delay risks were identified and grouped into ten categories to form the risk breakdown structure. The universal delay risks and other delay risks that are more or less depending on the project location were determined. Also, it is realized that delays connected to equipment, sub-contractors and design drawings are highly connected to project planning, finance and owner slow decision making, respectively. Originality/value The established terminology and taxonomy may be used in manual or automated risk management systems as a baseline for delay risk identification, management and communication. In addition, the association rules assist the risk management process by enabling mitigation of a combination of risks together.

Risk Analysis of Two Leader Drink Company: PepsiCo and Coca-Cola

The purpose of this report is to introduce and analyze risk factors of PepsiCo and Coca-Cola. By identifying the internal factors involving strategy, information system, contracts and governance and the external factors which include economy, law, customers preference and competitive environment of the two companies, the similarities and differences are given. Then risk taxonomy and analysis are given. In the end, some advice about reducing financial risk are given.

Forewarned is forearmed

Purpose Internet of Things (IoT) interconnects many heterogeneous devices to each other, collecting and processing large volumes of data for decision making without human intervention. However, the information security concern it brings has attracted quite a lot of attention, and, at this stage, the smart step would be to analyze the security issues of IoT platform and get to the state of readiness before embarking upon this attractive technology. The purpose of this paper is to address these issues. Design/methodology/approach IoT risk assessment through the application of the analytical hierarchy process (AHP), a favorite multi-criteria decision making technique, is proposed. The IoT risks are prioritized and ranked at different layers, before which a well-defined IoT risk taxonomy is defined comprising of 25 risks across six layers of the IoT model for developing control and mitigation plans for information security of IoT. Findings People and processes layer, network layer and applications layer are the top three critical layers with risks like the lack of awareness, malware injection, malicious code injection, denial of service and inefficient policies for IoT practice get the highest priority and rank. Pareto analysis of the overall risk factors revealed that the top ten factors contribute to 80 percent of the risks perceived by information security experts. Research limitations/implications The study focuses only on certain predefined constructs or layers of the IoT model traced from legacy studies. It is essential to re-look these constructs on a timely basis to prolong the results’ validity. The study’s empirical scope is confined only to the risk perception of select IoT experts and does not encompass a broader segment of the IoT ecosystem. Therefore, the risks assessment may not be sweeping to a bigger audience. Practical implications The study implications are two-fold: one it consolidates the earlier siloed works to intensify the need for risk assessment in the IoT domain, and second the study brings yet another contextual avenue of extending the application AHP and Pareto principle combination. The paper also draws specific critical organizational interventions about IoT risks. A comprehensive approach to prioritizing and ranking IoT risks are present in this research paper. Originality/value The contribution of this study to the benchmarking of IoT risk assessment is two-fold. One, a comprehensive risk assessment taxonomy is proposed, and two, the risks are prioritized and ranked to give a convincing reference for the organizations while making information security plans for IoT technology.