• Title/Summary/Keyword: Political Risk

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Technology Risk Management in the Post-catchup Innovation System (탈(脫)추격형 혁신체제에서의 기술 위험 관리)

  • Seong, Ji-Eun;Jung, Byung-Kul
    • Journal of Science and Technology Studies
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    • v.7 no.1
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    • pp.33-66
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    • 2007
  • In the post-catchup era, the probability of technology risk are growing according to technology innovation activities with high uncertainty are increasing. Risk acceptance and management are appearing as a more important policy issue. This paper examines the technology risk as a political and social sight and the character of technological risk in the post-catchup era. In the post-catchup, new technology and policy are more undergone trial and err. In particular, we need new approach and policy countermeasures to cope with risky environment and overcome catchup legacy. Accordingly, Korea risk management is needed reshaping of risk management system, increment of risk communication, risk management according to technology type, precautionary approach, bounded trial and err strategy, knowledge accumulation and learning reinforcement.

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Application of Probabilistic Health Risk Analysis in Life Cycle Assessment -Part I : A General Framework for Uncertainty and Variability Analysis of Health Risk in Life Cycle Assessment (전과정평가에 있어 확률론적 건강영향분석기법 적용 -Part I : 전과정평가에 있어 확률론적 위해도 분석기법 적용방안에 관한 연구)

  • Choi, Kwang-Soo;Park, Jae-Sung
    • Journal of Environmental Impact Assessment
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    • v.9 no.3
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    • pp.185-202
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    • 2000
  • Uncertainty and variability in Life Cycle Assessment(LCA) have been significant key issues in LCA methodology with techniques in other research area such as social and political science. Variability is understood as stemming from inherent variations in the real world, while uncertainty comes from inaccurate measurements, lack of data, model assumptions, etc. Related articles in this issues were reviewed for classification, distinguish and elaboration of probabilistic/stochastic health risk analysis application in LCA. Concept of focal zone, streamlining technique, scenario modelling and Monte Carlo/Latin Hypercube risk analysis were applied to the uncertainty/variability analysis of health risk in LCA. These results show that this general framework of multi-disciplinary methodology between probabilistic health risk assessment and LCA was of benefit to decision making process by suppling information about input/output data sensitivity, health effect priority and health risk distribution. There should be further research needs for case study using this methodology.

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Risk Communication on Social Media during the Sewol Ferry Disaster

  • Song, Minsun;Jung, Kyujin;Kim, Jiyoung Ydun;Park, Han Woo
    • Journal of Contemporary Eastern Asia
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    • v.18 no.1
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    • pp.189-216
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    • 2019
  • The frequent occurrence of overwhelming disasters necessitates risk communication systems capable of operating effectively in disaster contexts. Few studies have examined risk communication networks during disasters through social networking services (SNS). This study therefore investigates the patterns of risk communication by comparing Korean and international networks based on the social amplification of risk communication in the context of the Sewol ferry disaster (SFD). In addition, differences in language use and patterns between Korean and international contexts are identified through a semantic analysis using KrKwick, NodeXL, and UCINET. The SFD refers to the sinking of the ferry while carrying 476 people, mostly secondary school students. The results for interpersonal risk communication reveal that the structure of the Korean risk communication network differed from that of the international network. The Korean network was more fragmented, and its clustering was more sparsely knitted based on the impact and physical proximity of the disaster. Semantic networks imply that the physical distance from the disaster affected the content of risk communication, as well as the network pattern.

Family Business and Risk Management: Perspectives of SMEs Entrepreneurs in Indonesia

  • TAN, Jacob Donald;SUGIARTO, Sugiarto;BUDHIJONO, Fongnawati
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.5
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    • pp.851-861
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    • 2021
  • This study aims to explore the specific risks in family small-medium enterprises (SMEs) and explain how they manage these risks to sustain and expand. In Indonesia, family business composes around 95 percent of all businesses and contributes about 80 percent to the country's economy. SMEs contribute approximately 57.8 percent to the nation's gross domestic product. Risk management poses challenges to the family business's survival, as family members do not take actions on risk. The assessment of risk is difficult and family businesses lack the ability to determine risk management priorities, including risk management review processes to evaluate risk, thus leading to family business failures. Applying the case study approach, in-depth semi-structured interviews were conducted in seven family SMEs comprising fifteen informants. Additionally, a focus group discussion consisting of three experts is conducted to reaffirm the findings from the interviews, observations, and field notes. The research identified the specific risks and how the family owners strategize to safeguard against these risks such as cash flow deficiency, operations dysfunction, cultural frailty, disharmony, transgenerational entrepreneurship failure, political uncertainty, and unprofessionalism. Comprehending these risks and their strategic decisions elucidated in this research could enable the family owners and key non-family professionals to work hand-in-hand to thrive over the family business risks together. Further avenues of research regarding family business risk management are also suggested in this study.

RISK ANALYSIS OF FOREIGN DIRECT INVESTMENTS IN INNOVATIVE PROJECTS: CASE OF UZBEKISTAN

  • Lutfullaevich, Yoziev Golibjon
    • Asia Pacific Journal of Business Review
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    • v.5 no.1
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    • pp.11-19
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    • 2020
  • This study is a review on Risk analysis of foreign direct investments in innovative projects of Uzbekistan. The study will examine SWOT and PESTL analysis as an effective situation analysis tool which plays an important role in the fields of management, marketing, and in any fields of requiring strategic planning. SWOT is an analysis method used to evaluate the 'strengths', 'weaknesses', 'opportunities', 'threats' and PESTL is an analysis tool used for measuring the 'political', 'economical', 'social', 'technological' and 'low' risks involved in a various sphere of economy. In this study, firstly the essence of SWOT and PESTL analysis is explained, secondly the components of SWOT and PESTL analysis is examined. The paper includes risk analysis for further investigation to innovation sector of Uzbekistan economy.

International Construction Joint Ventures with Developing Countries: Singapore's Case for Risk Assessment and Allocation

  • Hwang, Bon-Gang;Zhao, Xianbo;Chin, Eileen Wei Yan
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.435-439
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    • 2015
  • It is important for Singaporean companies to manage the multifaceted risks when forming international construction joint ventures (ICJVs) with developing countries. The objectives of this study are to assess the risks associated with Singaporean ICJVs with developing countries, and investigate the risk allocation preferences in these ICJVs. To fulfill these objectives, a literature review was carried out and a questionnaire survey was performed with 38 professionals. The survey results reported "political instability" as the most critical risk, and market level risks were less critical than country and project level risks. Additionally, the results showed agreement on the risk ranking between building and infrastructure ICJVs, despite significant differences in the criticalities of five risks. Furthermore, five risks were preferably allocated to host and foreign partners, respectively, while 13 risks could be shared among partners. As few studies have explored the risk allocation preferences in ICJVs, this study expands the literature. Also, the identification of the risks allows other companies to customize their own lists of critical risks, while the preferred risk allocation provides valuable information for companies from various countries that intend to form ICJVs with developing countries. Thus, this study contributes to the global body of knowledge relating to ICJVs.

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CONSTRUCTION SCHEDULE DELAY RISK ASSESSMENT BY USING COMBINED AHP-RII METHODOLOGY FOR AN INTERNATIONAL NPP PROJECT

  • HOSSEN, MUHAMMED MUFAZZAL;KANG, SUNKOO;KIM, JONGHYUN
    • Nuclear Engineering and Technology
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    • v.47 no.3
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    • pp.362-379
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    • 2015
  • In this study, Nuclear Power Plant (NPP) construction schedule delay risk assessment methodology is developed and the construction delay risk is assessed for turnkey international NPP projects. Three levels of delay factors were selected through literature review and discussions with nuclear industry experts. A questionnaire survey was conducted on the basis of an analytic hierarchy process (AHP) and Relative Importance Index (RII) methods and the schedule delay risk is assessed qualitatively and quantitatively by severity and frequency of occurrence of delay factors. This study assigns four main delay factors to the first level: main contractor, utility, regulatory authority, and financial and country factor. The second and the third levels are designed with 12 sub-factors and 32 sub-sub-factors, respectively. This study finds the top five most important sub-sub-factors, which are as follows: policy changes, political instability and public intervention; uncompromising regulatory criteria and licensing documents conflicting with existing regulations; robust design document review procedures; redesign due to errors in design and design changes; and worldwide shortage of qualified and experienced nuclear specific equipment manufacturers. The proposed combined AHP-RII methodology is capable of assessing delay risk effectively and efficiently. Decision makers can apply risk informed decision making to avoid unexpected construction delays of NPPs.

Probabilistic Risk Assessment for Construction Projects (건설공사의 확률적 위험도분석평가)

  • 조효남;임종권;김광섭
    • Proceedings of the Computational Structural Engineering Institute Conference
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    • 1997.10a
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    • pp.24-31
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    • 1997
  • Recently, in Korea, demand for establishment of systematic risk assessment techniques for construction projects has increased, especially after the large construction failures occurred during construction such as New Haengju Bridge construction projects, subway construction projects, gas explosion accidents etc. Most of existing risk analysis modeling techniques such as Event Tree Analysis and Fault Tree Analysis may not be available for realistic risk assessment of construction projects because it is very complex and difficult to estimate occurrence frequency and failure probability precisely due to a lack of data related to the various risks inherent in construction projects like natural disasters, financial and economic risks, political risks, environmental risks as well as design and construction-related risks. Therefor the main objective of this paper is to suggest systematic probabilistic risk assessment model and demonstrate an approach for probabilistic risk assessment using advanced Event Tree Analysis introducing Fuzzy set theory concepts. It may be stated that the Fuzzy Event Tree AnaIysis may be very usefu1 for the systematic and rational risk assessment for real constructions problems because the approach is able to effectively deal with all the related construction risks in terms of the linguistic variables that incorporate systematically expert's experiences and subjective judgement.

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Risk Communication Networks in South Korea: The Case of the 2017 Gangneung Wildfire

  • Oh, Jeongmin;Jung, Kyujin;Song, Minsun
    • Journal of Contemporary Eastern Asia
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    • v.20 no.2
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    • pp.85-107
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    • 2021
  • Wildfires have become increasingly common and intense in South Korea because of climate change, but few have recognized the catastrophic level of the problem. Given the significant impact of wildfires, emergency management stakeholders must have effective risk communication structures for rapidly responding to such phenomena and overcoming geographical difficulties. Despite the country spending billions of dollars to build a big databased early warning system, risk communication flow during the 2017 Gangneung wildfire was ineffective, thereby causing substantial economic, social, and environmental losses. To examine the patterns of information exchange in South Korea's risk communication networks and their structural characteristics during the wildfire, we conducted semantic and network analyses of real-time data collected from social media. The results showed that the inefficient flow of risk information prevented emergency responders from adequately assessing the emergency and protecting the population. This study provides new insights into effective risk communication responses to catastrophic events and methods of research on webometric approaches to emergency management.

The Belt and Road Initiative (BRI): Opportunities and Risks from Vietnamese Perspective

  • NGUYEN, Long Duc Bao;LY, Tracy Trang;TRAN, Doan Cong;TRAN, Ai Van;LE, An Quoc;HUDSON, Alan
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.4
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    • pp.229-238
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    • 2022
  • The goal of this research is to look at the Belt and Road Initiative's (BRI) goals, principles, and priorities, as well as criticisms and concerns. Another goal is to determine the Vietnamese government's best response to the BRI. Finally, the study looks at the Vietnamese viewpoint. Document review is used in conjunction with PESTELED analysis and EIU country risk model technique in this study. The study is focused on in-depth interviews with 38 top government leaders, researchers, and scholars by adopting the Delphi technique to determine major factors of risks and opportunities as well as obtain a clearer view on the Vietnamese perspective of the BRI. The main conclusion is that Vietnam's participation in the BRI could result in a variety of benefits and risks, including economic development, connectivity and integration, development finance, cooperation, coordination, trade facilitation, and people-to-people communication, as well as diplomatic and political risks, financial risks, environmental challenges, and job creation. Another conclusion is suggested that careful and case-by-case negotiation with China is needed for Vietnam to exploit the future benefits of BRI. There is a need to set up the strategy to mitigate the risk impacts, reduce the risk level, avoid risk, at last turn the risk into opportunities.