IF a common man is questioned “can protectionism ever be justified” he’d probably say NO, we live in a world of globalisation and there won’t be many who agree with the term protectionism is today’s day, its mostly considered as an “economic bad” . You will easily find governments who say ‘I am in favor of globalisation’ but rarely will u ever find a nation which says “we are for protectionism” and that’s probably the most basic difference between the two. Let’s start with understanding protectionism before we debate if it’s even justifiable or not? Protectionism may be defined as (Block, and McGee, 1997) ‘Any policy intended to shield domestic industries from import competition’ Protectionism is merely an attempt by a countries government
It is difficult to obtain the quantitative data due to numerous constraints such as rare occurrence of the events, human subjectivity and economic considerations. Even if the data is available, it is often inaccurate or subject to uncertainty. Thus, it is difficult to establish rational database for safety and security considerations. Fuzzy set theory can provide a framework for handling such subjectivity and uncertainty associated with the data. Zadeh  initiated the fuzzy set theory.
Variation in performance would often produce unexpected and undesired adverse outcomes, including the occurrence or risk of a sentinel event. A root cause can be defined as one of the most fundamental reasons of failure, or a situation in which performance does not meet expectations. The word cause in the context of root cause analysis should not imply or assign responsibility or a factor to blame for a problem. Instead, the cause should focus on a positive and preventive approach and refer to the potential relationship between the responsible factors that result in a sentinel event. Root cause analysis usually performed retrospectively, and it evaluates the reasons for the bad outcomes or for sentinel events that have already occurred.
It is also one very important risk which occurs when the company has ineffective and inefficient operational processes as direct or indirect failed internal processes such as nonbeing laws and regulations, human resources practices. If inside companies operating processes connect each other independently and cannot perform well, it would cause lack of adequate charting across lines of operations (Jobst, 2007; Moosa, 2007). In the case of an unmanageable process, risks would cause troubles for companies, for example, financial institutions will be fined by regulators, litigations, loss of customers, and also would lose its
Task 2 2.0 Supply Chain Risk Yiyi Fan and Mark Stevenson (2018) states that the risks in supply chain are the emergence of natural disasters or man-made problems. However, this can have an impact on the organisation’s operation and financial situation which may result to the closure of the business. 2.1 Risk According to Cline, Preston B (2015), risk is the potential of losing or gaining something of value. Values can be the, social status, emotional well-being, physical health or financial wealth which can be lost or gained while taking risk resulting from a given action or inaction, foreseen or unforeseen. Moreover, risk can be defined as the intentional interaction with uncertainty.
Abstract The industries are expanding their business into new foreign markets as a result of the globalization of international markets. International projects involve a wider range of issues than domestic projects. It is very essential for the companies to understand the risks involved with the international projects and their effects for sustained competitiveness and growth in a global market. International Project Risk management is the systematic process of identifying, analyzing and responding to project risks associated with international projects. This paper aims to explore the different categories of risks involved in international projects and illustrate the various risks involved in each category.
Conflict may be classified on the basis of its sources. It may also be classified on the basis of organizational levels (individual, group, etc.) at which it may originate. Nature of Conflict 21Sources of Conflict. The classification of conflict is often made on the basis of the antecedent conditions that lead to conflict.
Introduction The risk society thesis by Ulrich Beck has been one of the most extensively discussed frameworks in environmental management (Matten, 2004). Ulrich Beck who is a German sociologist is the up-to-date theorist of modernity. Beck maintains that the risk which is intrinsic in modern society characterized by technological industrialization produces new forms of global risk society. Beck’s theory is based on the premise that the post-modernist world that we live considers safety and collective decision making on risk as more crucial than amassing wealth. Therefore considering Beck’s thesis, it is still applicable or relevant to the third world and not just only limited to the so called industrialized (first world) countries or a particular social class since globalization has no boundaries.
Most importantly, ‘along with the growing capacity of technical options grows the incalculability of their consequences’ (Beck 1992), which underpins the idea with which this piece began: risk society does not differentiate between class. One of the strengths of Beck’s ‘risk society’ thesis lies in his differentiation between class society and risk society, reflecting the wider changes seen in society (such as the emergence of the global economy, for example), arguably catalysed by globalisation and it’s widespread effects. If class society is characterised by scarcity, and can therefore be seen to be a community of need personified by the cry, “I am hungry!”, then Beck’s risk society is characterised by insecurity, and a community of anxiety shouting, “I am scared!”, (Beck 1992). This differentiation seems to reflect a progressive, modern thesis applied to our undeniably changed society. Beck sees modernity as inherently transformational because change is built into the existing social systems, allowing for a process of constant renewal.
Then, a typical risk-based maintenance framework is applied to each risk. The framework is shown in Fig.1 For each identified risk, data needs to be collected. This includes information about the risk, its general consequences and the general methods used to ease and predict the