Risk Management Article

Pavel Kireyev’s picture

By: Pavel Kireyev

Good salespersonship is a species of street smarts. It’s about quickly sizing up your customers and pitching your wares in terms that reverberate with their unspoken needs and desires. As artificial intelligence (AI) and machine learning increasingly intersect with e-commerce, these priceless human skills are finding algorithmic analogues—not just at point of sale, but throughout the customer journey.

The results will be familiar to online shoppers everywhere. Netflix’s and Amazon’s algorithms leverage the data from each customer click to fine-tune their recommendations and drive consumption. The tech behemoths also deploy consumer activity data to sharpen their email and social media marketing. This is likely only the beginning because the technology’s predictive prowess is improving all the time.

Paige Needling’s picture

By: Paige Needling

Amidst a sea of alarming cybersecurity statistics, there’s one that perfectly captures today’s reality. It’s from a 2019 Trend Micro survey, which says: “80 percent of all businesses expect to be hacked this year.” Not “perhaps” or even “likely.” But will be hacked.

And perhaps worse, only 39 percent of the 400 executives and board members surveyed (see figure 6) said their company has fully developed and implemented a cyber-defense strategy. The expectation of being hacked shows the vulnerability organizations across the board feel, not just those that have been breached or that may fit a profile of “high risk” businesses (e.g., banks or hospitals). Small and medium-sized businesses are particularly vulnerable because of their relative lack of resources compared to Fortune 500 companies.

Himanshu Singh’s picture

By: Himanshu Singh

The most noteworthy and significant change in data privacy regulation in more than 20 years recently came by way of the General Data Protection Regulation (GDPR) in the European Union (EU). Being GDPR-compliant has become an important consideration in the way data are stored, handled, and processed. Here, we will discuss how document management solutions (DMS) can keep you on the right side of GDPR.

Let’s first begin by understanding GDPR and its implications.

The GDPR is based on the privacy by design school of thought. It enforces common-sense data security ideas such as minimizing the collection of personal data, deletion of personal data that is not required any longer, restriction of access, and data security during the entire life cycle. It is a uniform law applicable across the EU and beyond that prescribes requirements that regulate how data are collected, recorded, stored, and processed. Heavy penalties incur for violations.

J. Stewart Black’s picture

By: J. Stewart Black

For growth-starved Western entrepreneurs, the Chinese market is appealing. Think about it: Since 1995, China’s economy has grown by a factor of 18.5, from $735 billion to $13.6 trillion (excluding Hong Kong). In terms of purchasing power parity, it is now the No. 1 economy in the world.

Accordingly, many foreign companies have gone out of their way to build supply chains within the country and go-to-market mechanisms in order to access its market. Across industries, U.S. firms have invested more than $276 billion in China since 1990. In 2018, foreign direct investments from all countries flowing into China reached $139 billion.

Dylan Walsh’s picture

By: Dylan Walsh

In principle, the mountaineer’s work is simple: “To win the game he has first to reach the mountain’s summit,” said George Mallory, who took part in Britain’s first three attempts on Everest during the 1920s. “But, further, he has to descend in safety.”

The tension between these two goals—summiting while also surviving—makes the Himalayas context especially interesting and relevant for companies also balancing multiple goals, says Lindred Leura Greer, an associate professor of organizational behavior at Stanford Graduate School of Business.

“Mountaineering provides an interesting setting, and an extreme one, in which you’re trying to win while also trying to mitigate loss,” Greer says. “This looks a lot like, say, a startup, where you’re trying to maximize to become a unicorn while at the same time trying to make sure the small details don’t pull you under.”

Given this analogue, Greer and other researchers used mountain climbing as a lens to explore longstanding assumptions about group performance. For decades, academics have suggested a straightforward link between a group’s solidarity and its success: The more a group operates with a single mind, the better its execution.

Jeffrey Hirsch’s picture

By: Jeffrey Hirsch

Science fiction has long imagined a future in which humans constantly interact with robots and intelligent machines. This future is already happening in warehouses and manufacturing businesses. Other workers use virtual or augmented reality as part of their employment training, to assist them in performing their jobs or to interact with clients. And lots of workers are under automated surveillance from their employers.

Chad Kymal’s picture

By: Chad Kymal

Organizations in the automotive and related industries such as steel, plastics, and semiconductors have been heavily influenced by automotive industry standards and practices like IATF 16949, advanced product quality planning (APQP), failure mode and effects analysis (FMEA), and production parts approval process (PPAP). These are collectively called “Core Tools” and include measurement system analysis (MSA) and statistical process control (SPC).

During the last 10 years, a significant number of new technologies has been introduced in automobiles, including autonomous breaking, auto lane change, adaptive cruise control vision systems, and various sensor-operated alerts. Soon, more than 50 percent of a new car’s value will be found in its electronics (i.e., semiconductors) and software (see figure 1).


Figure 1: Automotive electronics cost as a percentage of total car cost worldwide from 1950 to 2030

Multiple Authors
By: Rachel Ehrenberg, Knowable Magazine

If you’re lucky, you’ve tasted a perfectly ripe fruit—a sublime peach, perhaps, or a buttery avocado. But odds are most of the fruit you’ve eaten tastes more like wet cardboard. Although plant breeders have mastered growing large, perfect-looking fruits that resist decay, ship easily, and are available year-round, flavor has fallen by the wayside.

That’s starting to change. Amid growing consumer interest in sustainable farming and good food, researchers are delving into the complex biochemistry and genetics of fruit flavor with renewed zest. Here are some basic facts about fruit, how it ripens, why much of it tastes so bland—and how scientists are trying to reclaim lost flavors.

What is fruit and how is it made?

Botanically speaking, fruits are mature, ripened ovaries containing seeds. These seed suitcases can be dry, like a pea pod, or fleshy, like an apple or tomato. A fleshy fruit, from the plant’s point of view, is a fee-for-service: a nutritious meal offered to an animal in exchange for dispersing the seeds inside.

Daniel Hess’s picture

By: Daniel Hess

We all expect hospitals to be open and operating when we need them, but extreme weather events like hurricanes are a strain on resources and pose significant challenges for hospitals.

Closing a hospital is an extreme action, but several hospitals in Florida, Georgia, and South Carolina did just that before the arrival of Hurricane Irma in 2017.

With more than 300 hospitals and a higher share of older adults than any other state, Florida had a critical issue facing emergency planners during those storms.

As a professor of urban planning, I have studied emergency planning and evacuation and also co-authored an extensive report on how hospitals coped with the aftermath of Hurricane Katrina and Hurricane Gustav. Hospitals plan for catastrophic events, but there are always lessons to be learned.

Hospitals try to stay open and care for patients already hospitalized as well as those who suffer injury or illness from a storm. Here’s how they do it.

DNV GL’s picture

By: DNV GL

Workplace safety is a complex issue, addressing everything from rules for operating heavy machinery to guidelines for respecting your fellow employees. For many of these issues we, as a business community, have developed and applied a variety of best practices and global standards—such as ISO 45001—to help establish and preserve a safe and healthy working environment for everyone.

The U.S. Dept. of Labor estimates that two million employees are victims of workplace violence annually, resulting in a loss of 1.2 million workdays and an estimated $55 million in lost wages.  The long-term costs to business continuity and the human capital that supports it are almost staggering. 

As a society, we work toward the prevention of accidents that result in personal injuries; we have policies about professional behavior and decorum, and plans to deal with emergencies by natural causes such as fires, floods, and electrical outages. What we must now develop are the operational plans and policies to deal with targeted violence such as active shooter events. 

Syndicate content