bluuebunny/crossref_metadata_2025 huggingface dataset:
What makes for effective business continuity implementation?
Authors: Capparelli Jacopo , Chionna Godwin , Riglietti Gianluca
Published: July 2024

The process of implementing and maintaining a business continuity management system is associated with various challenges that make it hard for organisations to realise their business continuity objectives. This paper describes how to implement three key drivers to support organisations in their business continuity efforts. First, the organisation must establish a culture conducive to business continuity. This can be reinforced through the distribution of roles and responsibilities for business continuity, in order to spread the operational burden and raise awareness regarding the necessity of business continuity processes. Finally, organisations can benefit from the latest advancements in technology and software to make business continuity efforts easier to implement at all organisational levels. This latter aspect is important not just for business continuity managers, but also their colleagues, who may not be as well versed in the area of business continuity, but whose support is essential to the smooth functioning of the business continuity management system.
Luxury counterfeit purchasing: The collateral effect of luxury brands’ trading down policy
Authors: Kapferer Jean-Noël , Michaut Anne
Published: July 2024

Counterfeiting constitutes a problem for the luxury industry, one that has arisen in recent years, parallel to the growth of the industry itself. This paper argues that counterfeit purchases stem from a boomerang effect of luxury brands’ ongoing strategy to attract more consumers. To grow in volume, luxury brands offer more accessible and conspicuously branded products. Exclusivity and exceptional quality — the core values of luxury — have been violated by these lower-cost products. The focus has moved from true values — quality of craftsmanship — to superficial ones such as logo conspicuousness. Beyond making good copies easier to produce, this may have increased cynicism among consumers and lessened the moral barriers attached to the purchase of counterfeit products. A study on 966 actual luxury consumers shows indeed that negative ethical judgments about luxury and perception of luxury as being superficial are strong predictors of luxury counterfeit purchasing.
The practical application of ISO 22301
Authors: Zawada Brian
Published: July 2024

As well as providing a brief background of ISO 22301, this paper describes three practical uses of the standard, as well as ways to use the content to solve common challenges that business continuity professionals face every day.
Revolutionising content recommendation: The impact of AI in marketing
Authors: Ip Ken
Published: July 2024

Artificial intelligence (AI) has become an integral part of the marketing industry, particularly in the area of content recommendation. By utilising data analysis and machine learning (ML) algorithms, AI systems can suggest personalised content to consumers, enhancing their browsing and viewing experiences. This paper examines the use of AI in marketing and how it is revolutionising content recommendation. It looks at the benefits and challenges of AI in marketing, the types of AI models used in content recommendation and how these models work to provide tailored content to consumers. The paper also explores the ethical implications of AI in marketing and the need for regulations to ensure consumer privacy and prevent bias. Overall, this paper aims to provide a comprehensive overview of AI in marketing and its impact on content recommendation.
Assessing buy-side preparations for meeting derivatives reform under the European Market Infrastructure Regulation
Authors: Goodchild Elspeth
Published: July 2024

In 2012, Rule Financial undertook in-depth research into how financial institutions were preparing for the raft of over-the-counter (OTC) derivatives reform legislated under Dodd–Frank in the USA and the European Market Infrastructure Regulation (EMIR). The research found that the sell-side had invested heavily in new technology that would allow for connectivity to new counterparties and also meet trade reporting compliance. In comparison, the buy-side had spent only a fraction of what the sell-side had on reform technology. Now, with the first Dodd–Frank deadlines already passed, institutions are looking towards the impending EMIR deadlines coming into action in 2014. In this paper, Amrik Chawla provides an assessment following his recent engagement with the buy-side and discusses the options available to those who are preparing to meet the first deadlines.
Overview of the current CRC scheme
Authors: Southworth Jane , Manning Catherine
Published: July 2024

Following a significant period of uncertainty the UK Government has confirmed the changes that will be made to the CRC Energy Efficiency Scheme (CRC Scheme) in order to simplify it and reduce the administrative burdens it places on businesses. The CRC Scheme requires non-energy intensive organisations to measure and report on their energy consumption and purchase allowances for the amount of CO2 emissions associated with that consumption. The majority of the changes proposed will come into force from April 2014, however certain changes will come into effect from 1st June, 2013. Key changes for the real estate sector include the surprise abolition of the Performance League Table, the disapplication of the Landlord and Tenant Rule in respect of ground lease arrangements, and new rules in relation to CRC responsibility in Trust situations. The simplification of the CRC Scheme is to be welcomed as many businesses had struggled with its technical complexities, however, fundamental criticisms that the scheme is merely a tax remain. The Government will review the effectiveness of the simplified CRC Scheme in 2016.
The future of the office lies in the village 2.0
Authors: Groeneveld Petra , Veeke Rob , Muijen Jaap Van
Published: July 2024

Developments around the workplace have accelerated fast as a result of the COVID-19 pandemic. Those developments will inevitably influence the commercial property market. Demographic changes will dramatically shift the workspace as baby boomers retire and make place for a new generation. Digitalisation has become democratised. These trends will affect the office of the future, which will need to be a place that offers recognition, inspiration and even a sense of security in the midst of all the upheaval. What then are the consequences for the way real estate is planned, designed, built and operated, if living and working are in transition? A sustainable office or company building is more than a property that scores well with regard to economical energy management. The building, maintaining and exploitation of properties all require a holistic approach. The most important consideration when building new properties is that buildings have a huge influence on the well-being of their users. Real estate should no longer lag behind, but become leading instead. If you believe the environment is a form of organisation as well, and that buildings can make people sick as well as productive and happy, it is about time the real estate community finally uses its enormous power as a force for good to support and boost the transformation of the jobs market and society as a whole. An open, village-like environment in which pupils and apprentices can learn from each other and work and leisure time blend together does not benefit from a rigid, hierarchical structure. In order to give the new villages 2.0 a chance, a first, very practical step must be taken. Therefore an urgent appeal must be made to the generation that is now at the helm. These baby boomers are about to retire, but carry the special weight of stewardship on their shoulders.
Badge drops and points galore: Crowdsourcing metadata at a public library archive
Authors: Morse Heidi
Published: July 2024

This paper discusses two strategies for crowdsourcing metadata at a public library archive: (1) leveraging social media networks to identify people and places in photographs; and (2) gamification techniques for large-scale metadata collection. A comparative approach leads to conclusions about best practices for different contexts and goals. Crowdsourcing initiatives encourage participants to build a relationship with an institution or repository. Smaller-scale crowdsourcing campaigns often succeed not just in collecting metadata, but in drawing in new users. Crowdsourcing via social media can boost community engagement, strengthen partnerships and raise awareness about collection highlights. Larger-scale metadata collection via gamification is more oriented towards individuals and existing users. Designed with user engagement in mind, crowdsourcing via online games can succeed in both digital outreach and metadata collection.
Credit risk management and mitigation
Authors: Measures Darren
Published: July 2024

This paper discusses the consequences of the market crisis in 2008 and the way that credit risk is managed within firms using traded instruments, including OTC derivatives, and the use of collateral as a tool to mitigate that credit risk exposure. The active management of credit risk can no longer be a preserve of the banks and broker dealers, but getting an end-to-end infrastructure to understand, monitor and evaluate credit risk is providing a challenge in the industry at a time of resource and investment constraints.
The effective use of licensing in brand strategy
Authors: Cross Bill
Published: July 2024

Brand licensing is now an important strategic tool for companies of all sizes in marketing their products. The risks/rewards surrounding any licensing endeavour are many, and should be carefully considered by any brand owner before entering into retail licensing contracts. The potential enhancements include increasing the value of the brand, extending the brand’s reach into new channels of distribution, achieving greater interaction with the consumer and, not inconsiderably, enhancing revenues. But brand licensing is also a highly specialised endeavour, and companies jumping into it without adequate preparation and knowledge risk inviting disaster. These can include devaluing the brand’s equity, alienating consumers and protracted expenditure of internal and external resources on unfortunate deals. The paper seeks to explain how brand licensing works, lay out some of its advantages to brand owners and outline both potential pitfalls to watch for and remedies for avoiding these sorts of mistakes.
The challenges of providing alternatives under a prescriptive code regime
Authors: Gentille Michael
Published: July 2024

When submitting an alternative (alternate) under a prescriptive code regime, intangible factors such as good human relations are every bit as critical to the process as soundly addressing the technical aspects of the submittal. Additionally, a clear and concise understanding and portrayal of what is intended to be accomplished by the alternate is critical in getting a fair consideration of the request. Through submitting hundreds of alternates to jurisdictions across the USA, the author has gained a good perspective on what works, and what fails to connect in the process. Several of the more important aspects of these experiences have been provided in the narrative hopefully to assist others in achieving positive outcomes. By following a few simple procedural steps, and recognising that the process is often just as much about interpersonal communication skills as it is initiating a common-sense solution to difficult problems, code consultants can enjoy a higher frequency of alternate approvals. In this way, the code consultant provides a higher level of service to their clients by potentially eliminating costly design modifications, schedule delays, or unintended consequences that can result from such interactions. More than anything, the value of what is brought to the table by this process far outweighs the costs involved of never having made the effort in the first instance.
Navigating a brand ‘bounce back’ after a near closure: A case study on Sweet Briar College’s ‘fierce’ brand refresh
Authors: Richards Melissa Farmer , Koelling Alexia , Ostroth Amy
Published: July 2024

The role of the chief communications officer at American colleges and universities continues to shift from that of a traditional public information officer to one that requires brand marketing expertise. A changing competitive landscape, enrolment challenges and financial woes present new road blocks that risk brand crisis regularly. This case study explores how one college repositioned its brand to recover from a brand crisis after nearly closing its doors. The authors offer seven steps for a structured approach to brand development and management in order to navigate a brand rebound postcrisis.
Trends in post-trade processing
Authors: Probert Gary , Ali Asmaah
Published: July 2024

As investing becomes more global, and capital travels with a disregard for physical borders, identifying trends in the global flow of trades is an increasingly relevant topic of interest. Trading in different time zones is not a new concept to the investor community; however, trade processing is currently undergoing an evolution born of necessity to become more efficient, seamless and cost-effective. Not only are independent investors affected by the strides the international community has made in the post-trade processing space over the past few decades, but also government agencies and regulators, as well as industry standards bodies, are at the forefront of these market changes. As the market evolves, investors, government regulators and industry associations must cooperate more closely than ever to achieve the common purpose of a more efficient marketplace.
Stress tests as a systemic risk assessment tool
Authors: Demekas Dimitri G.
Published: July 2024

Turning stress tests into a useful tool for assessing system-wide risk requires the following: (1) incorporating general equilibrium dimensions, so that the outcome of the test depends not only on the size of the shock and the initial buffers of individual institutions, but also on their responses to the shock and their interactions with each other and with other economic agents; and (2) focusing on the resilience of the system as a whole. Progress has been made toward the first goal; several models are now available that capture behavioural responses and feedback effects. But building models that measure correctly systemic risk and the contribution of individual institutions to it has proved more difficult. Further progress in this area would entail using a variety of analytical approaches and scenarios, integrating non-bank financial entities, and exploring the use of agent-based models. Also, stress tests should not be used in isolation but be treated as complements to other tools and — crucially — be combined with micro-prudential perspectives.
Remote work and climate change: Considerations for grid resilience in the 21st century
Authors: Ratner Jackie , Westfallen Vincent , Aguilar Susanna , Schlegelmilch Jeff
Published: July 2024

This paper explores how the unprecedented dependence on remote work since the start of the COVID-19 pandemic has affected the demand for electricity. The paper discusses how the increased dependence on information and communication technologies has driven a shift in the daytime demand for power, from the commercial sector to the residential sector, prompting changes in the way electric utilities plan for peak load demand. As the article goes on to argue, this exposes the growing need for greater grid resilience in order to safeguard the supply of electricity in the face of increasingly frequent potential disruptions such as extreme weather events. The paper finds that emergency planners and responders, public agencies, utilities and other public and private sector stakeholders will need to collaborate ever more closely when devising and implementing solutions as well as when responding to emergencies.
Risk management in a university environment
Authors: Brewer Ann , Walker Ian
Published: July 2024

Risk is an integral part of quality assurance in higher education in Australia. This paper describes a generic methodology for the identification and management of risk in a university or similar tertiary education environment and outlines a framework that enables the management of risk to be incorporated in the institution’s governance cycle. The new approach here is that risk is embedded in the quality assurance framework and, in turn, in the strategic planning and budgeting processes. In many organisations, risk is implemented as a separate process and not considered in any meaningful way as integral to the strategic direction and performance of the university. The paper is based on work carried out by the authors and others between March 2008 and April 2009 to develop a comprehensive system for managing risk in a major Australian university, including processes whereby risk management could be integrated with, and add value to, the overall governance of the university. The case study is described in the appendix to this paper.
Cause-related marketing in a polarised global marketplace
Authors: Kiprop Bridgitte , Samii Leila
Published: July 2024

The purpose of this paper is to explore what cause-related marketing campaign strategies corporations are using to address social concerns polarising society in more recent times. Using a case study analysis approach a conceptual discussion and a framework are presented that show four different viewpoints on cause-related marketing campaign strategies and how corporations are using them to build trust while addressing the various polarising issues. The more explicit corporations are in taking a stand on polarising social issues, the greater the psychological bond they create, which, hence, elicits the active engagement of both their consumers and employees to undertake social causes; however, undertaking to support social causes can be a risky strategy and managers need to ensure congruity between the partnership for social causes and the power of the message conveyed to its consumers. Availing such opportunities to engage in social causes at work has the added benefit of attracting and retaining good employees, giving the corporation greater credibility and boosting its corporate brand image.
Brand storytelling in the age of artificial intelligence
Authors: Spanos Manos
Published: July 2024

Around 640 million unique items of branded content are posted every day, yet 87 per cent of branded content has no significant engagement. As many as 90 of the top 100 brands have lost market share since 2015 — and 62 per cent have declining revenues. To respond effectively, brands must combine human intelligence with artificial intelligence (AI) to tell better stories, with better targeting and better creative execution. Three case studies illustrate this: first, Danone North America’s (DNA’s) partnership with Public Good to raise awareness of DNA’s brand, Happy Family Organics, via AI-powered contextual targeting to encourage parents to take action promoting sustainability — which earned a 1.79 per cent participation rate. Next, a digital campaign by DNA’s Light + Fit built with iteratively optimised video content, which leveraged AI to perfect both the ad itself and its targeted deployment online, leading to a drastic increase in brand awareness. Finally, a Super Bowl commercial whose concept was hatched by one irreplaceably creative human. Only 6 weeks later, thanks to an AI-accelerated approach, the ad was ready for release — earning more than 40 million unique views across digital platforms — with zero television ad buy. This paper analyses how storytelling matters more than ever. It encourages brands to show up, stand out and deliver.
Integrating an incident command system and business continuity into a healthcare response to a flu pandemic and other infectious disease emergencies
Authors: Bone Eric A.
Published: July 2024

A coordinated health system response to a pandemic influenza will require a command and control process embedded in the health system. This paper will show how systemising command and control by using an incident command system in an emergency operations centre, along with business continuity through integration of public health operations with acute care operations, will create a manageable response and a proven framework to achieve a coordinated response to competing complex issues.
Building an organisational resilience maturity framework
Authors: Gracey Aaron
Published: July 2024

This paper discusses the challenges faced by organisations as disruptive events increasingly impact across operational, tactical and strategic operating levels. Organisations maintain the foundation of society by building the economy; they provide employment, wealth generation, material, services and community spirit. Simultaneously, they are being forced to diversify and innovate to maintain their share of global or local markets, thus inviting risk into the daily operating model. Organisations with a higher level of internal resilience are better poised to mobilise resources, allocate personnel and prioritise key functions, with leadership teams unafraid to make difficult decisions based on intelligence and evidence-based analysis, although there is still a limited understanding of how a resilience framework can benefit the bottom line. Effective leadership, evidence-based decision-making and business intelligence collection and dissemination are critical to success; however, to truly build resilience capability, organisations need to develop a learning organisation mentality, and move the concept of organisational resilience away from technology to become a people-focused strategy. Organisations must change the mentality of using resilience to generate short-term financial gains and instead focus on long-term sustainability.
Sharing sustainability stories: Case study of social media content curation for Canada Research Connections
Authors: Hodson Jaigris , Dale Ann , Clifton-Ross Jaime
Published: July 2024

What is the best way to break through all the online noise with the vital message of sustainability? This paper details a case study on the strategic use of social media, where content curation tactics are employed to share scientific information related to sustainability. This type of marketing approach is currently under-utilised in both environmental marketing and scientific communication. The study finds that the best practices in the online marketing literature are profoundly useful for spreading sustainability messages to the public via social media platforms. Best practices such as knowing one’s audience, using visuals, maintaining a positive message and providing value make it possible to grow reach, even with a topic that is somewhat dry and unlikely to inspire sharing. In a world where information overload is a pressing concern, content curation is a valuable tactic in every digital communicator’s toolkit, allowing even scientific, technical and sustainability communicators to build communities with relatively low resourcing requirements. This shows how content curation can be highly effective in cutting through internet ‘noise’, even in challenging or non-typical communication situations.
Catchment areas of small airports: A hybrid analysis of the Alps-Adriatic region
Authors: Button Kenneth , Kramberger Tomaž , Šinko Simona
Published: July 2024

This paper adopts a methodology initially developed for seaport choice and applies it to catchment areas for airports in part of the Adriatic region. Unlike much of the analysis of small airports in the region, which focuses on destination airports in the region, the work considers the demands for airports by residents. The analysis differs from most other studies of this sort by combining both hard data and that from surveys of airport users, to look at the attractiveness of various airports in the region to potential travellers. From a policy perspective, good information regarding the economic attractiveness of various facilities is lacking when it comes to deciding whether airports justify additional investment or whether they continue to be useful attributes to the aviation network. The findings also have relevance for the planning of surface transportation access to airports in the region.
On better assessing the future outcomes of ‘grand, world-changing schema’: Seeing present EU and globalisation backlashes as to-be-expected
Authors: Werther Guntram F. A.
Published: July 2024

Are large-scale, large impact, rare events such as the present, perhaps existential, backlashes against globalisation and the European Union statistical and conceptual ‘tail events’ or are they to-be-expected consequents of ideas in action — schema — that have been repeatedly tried, and in various iterations, have repeatedly failed? This paper uses comparative holistic assessment to argue the latter. Several implications for doing better risk assessment of such large-scale, large impact, rare events, with a historical perspective, are presented.
The hidden costs of outsourcing: A case study
Authors: Gašparac Davor
Published: July 2024

Outsourcing is a very popular and powerful solution that enables companies to focus on their core competences, as well as to gain flexibility and increase time to market. However, the most common expectation from outsourcing is decreasing costs. Companies that expect outsourcing to decrease their costs in the short and middle term may find themselves disappointed. This article explains where hidden costs could occur, and why they occur.
Discounting long and uncertain workout recoveries for estimating loss given default
Authors: Roy Subarna
Published: July 2024

A key determinant of the loss given default within the Basel II framework is the discount factor used in discounting the recoveries, especially when the workout period is long and uncertain. There is no agreement among practitioners and regulators on an appropriate discount factor selection methodology — quantitative techniques in this area have mostly focused on recoveries on assets traded in the market. Recoveries done by banks on assets not traded in the market, which form a large share of their retail exposures, have been relatively unexplored with respect to a suitable quantitative discounting technique. This paper proposes a quantitative technique that could be easily applied by banks when their workout recoveries are long and uncertain. It also explores the impact of systematic factors in deriving the discount factor. Further, the paper explores the properties of the proposed discount factor and results from retail and corporate exposures of defaulted loans.
On cryptocurrencies, digital assets and private money
Authors: Sehra Avtar , Cohen Richard , Arulchandran Vic
Published: July 2024

This paper reviews the technical, economic and legal aspects underlying cryptocurrencies — the native digital assets that form the basis of an open public blockchain infrastructure. This structure is then extended to discuss secondary tokens, where blockchains can be leveraged to issue, register and settle digital assets that may represent securities, private forms of money or other property rights. The viability, complexities and limitations of such models are reviewed with the purpose of providing the reader with a strong foundation for deeper exploration of this complex and emerging field.
Do vendors’ service models maximise value for clients?
Authors: Stephenson Andy , Bakpessi Kudjoou , Inman Lawrence , Mitchell Ryan , Poldaas Sara
Published: July 2024

This paper takes the form of a panel discussion, being an extended version of one that took place at Global Custody Forum in London in December 2018. It examines where service providers are as regards having service models that truly serve their clients, with asset managers and asset owners sharing their experiences and examining how things have evolved in the past five years. While there is hope that such vendors might develop the skill set expected of a professional services firm, there is a fundamental drag with providers not truly appreciating their shortfalls and not taking the baton to drive service-quality improvement. Often alone in the driving seat, asset managers and owners must focus internal resources to pinpoint where improvement is required and look beyond outmoded traditional client satisfaction surveys to more rigorous in-house and external tools. This paper rounds off with a broader perspective on firms’ current initiatives for attaining operational excellence both in-house and at their vendors.
Oversight and risk management of payments schemes
Authors: Mallekoote Piet M. , Balraadjsing Suren K.
Published: July 2024

Retail payments have become a strategic item on the agenda of the boardrooms of banks and fintechs. Innovation and competition in methods of payment have increased significantly over the past decade, resulting in more choice and better customer experiences for consumers. The downside of this positive development is that the risks in payments have increased. This paper analyses these developments and shows why and how the oversight of central banks has spread to retail payments. It also discusses how owners of payment schemes can respond to this by setting up an adequate risk management system that monitors the main risk areas, but also takes into account changes and innovations in the payment landscape due to technology and legislation.
Are secondary airports subject to the same fixed or random effects as large hub airports? A case study of the Chicago metropolitan area airports using dynamic panel data analysis
Authors: Diana Tony
Published: July 2024

In this study, dynamic panel data analysis focuses on whether the operational conditions that underlie congestion and delays have changed over five summers (when traffic and delays are at their peak) and within the same group of airports, that is, Chicago O'Hare International (ORD), Chicago Midway (MDW), Gary/Chicago International (GYY) and Milwaukee Mitchell International (MKE). Panel data analysis can help to determine whether any change in delays is the result of random or fixed effects. The panel compared the total minutes of gate arrival delay by each summer (time period) and by airport (cross-section variable) as a function of lagged gate arrival delay minutes, arrival demand, arrival volume, taxi-in times and percentage of airport capacity utilised. These variables are usually key factors in congestion and delays. The study reveals that the four airports were mostly subject to fixed effects. This implies that delay reduction initiatives should consider secondary airports in the overall strategy to address congestion and delays at the main hub airports.
Seven tools for foreign investors’ rights protection in developing countries
Authors: Stepanyan Vahan , Klekchyan Levon
Published: July 2024

This paper highlights the opportunities that developing countries may give to investors. All the investors have a clear view of the risks that can be faced in case of the investments. Our paper raises seven main problems; these will increase investors’ rights protection and decrease investors risks. Starting from data and information protection, we went to international coding necessity in the market and pointed out the importance of overall control of corporate actions.
Upskilling/reskilling when implementing value-driven technology
Authors: Kumari Sneha
Published: July 2024

Digital transformation is a journey that most companies will find themselves on and will be familiar with the churn that comes with it. This paper focuses on the importance of having upskilling/ reskilling as a centre of attention for companies in their process of digital transformation. Investing in technology alone cannot solve the myriad problems we have today in our businesses. Tech is a tool that will act as an enabler, but we need the employees, the people using that tech to also be transforming when they are on this journey. Upskilling is not just about learning new skills; we need to treat it as a culture shift and our readiness to manage this change. Through this paper, we would like to share the why and the how of upskilling and reskilling your employees to gain the most return on investment (ROI).
The phenomenon of de-risking: Unintended consequences and possible solutions
Authors: Jimenez Jorge , Labeaga Azcona Jose Maria
Published: July 2024

Global commerce relies on correspondent banking to execute international transactions. Due to the increasing cost of compliance, however, some US-based global financial institutions have been terminating their correspondent banking relationships — a practice known as de-risking. In some cases, correspondent banks have even terminated their relationships with central banks. This kind of situation creates systemic risk at a country level, and central banks are looking at alternatives to better serve the needs of their respective financial systems. This paper analyses prior work and surveys on the magnitude of de-risking, and cross-references the findings with recent surveys conducted in the Dominican Republic and Argentina to determine whether market failures and systemic risk are inevitable. The results indicate that while the situation is not yet catastrophic, it is sufficiently precarious that foreign countries that rely on the US dollar should start looking for alternative solutions for global correspondent banking immediately. The paper also describes some of the alternatives currently available, including intervention from the Federal Reserve Bank of New York, regional payments systems, and smaller US correspondents.
EU capital markets at a crossroads: Getting the MiFID II/MiFIR review right to unlock Europe’s growth potential
Authors: Brab Niels
Published: July 2024

This paper explores the aims and scope of the MiFID II/MiFIR Review and its significance in unlocking Europe’s growth potential amid current socioeconomic challenges. The EU’s capital markets currently underperform globally, necessitating urgent structural reforms to enhance competitiveness and participation. The Markets in Financial Instruments Directive II (MiFID II)/ Markets in Financial Instruments Regulation (MiFIR) regime, designed to foster fair competition and investor confidence, has fallen short due to market fragmentation and regulatory inconsistencies. Addressing these issues requires transparent, resilient and integrated capital markets that prioritise liquidity, price formation and investor protection. Fragmentation in the EU equity market is a pressing concern, with off-book volumes increasing and exchanges experiencing a decline in trading flow. Enhancing transparency requirements, minimum order sizes and the dark trading cap, while simplifying waivers and deferrals, can help address these challenges. Implementing a consolidated tape (CT) to increase transparency in off-exchange trading is also crucial, with a phased-in approach recommended for reliable and high-quality data. Placing societal interests at the heart of these reforms is vital for achieving the EU’s strategic autonomy and ensuring long-term economic growth. The MiFID II/MiFIR Review presents an opportunity to promote transparency, efficiency and investor protection, garnering citizen support and contributing to critical societal challenges. Readers can expect to gain knowledge of the current state of EU capital markets, the shortcomings of the MiFID II/MiFIR regime and the necessary reforms to unlock Europe’s growth potential. They will understand the challenges posed by market fragmentation, the importance of transparency and liquidity and the role of a CT in enhancing the investment climate.
Leading across complex healthcare systems: Learning from an action inquiry project
Authors: Cantore Stefan
Published: July 2024

To focus solely on organisational management is no longer enough to be effective. Instead, healthcare managers and leaders must also pay attention to the behaviours required to shape organising within complex systems. The author, together with his collaborator, Dr Mark Gatenby, undertook research within a large UK rehabilitation unit over the course of a year. This work combined consulting with action inquiry and explored the challenges faced by healthcare managers and professionals as they grappled with the complex dynamics within their own complex hospital organisation and the wider region. A notable finding was that quite different behaviours are needed to positively impact on a complex system when compared with the behaviours that are often modelled by organisational managers and still taught in management development programmes. Ten relevant behavioural practices are shared, including purposing, empathising, conversing, leading for learning, influencing, role shaping, culturing, storying, languaging and reflecting. The ideas underlying these practices are described and the implications outlined. Suggestions are offered for action along with a few questions for individual reflection. The paper concludes that a refocussing of leadership development is required to stimulate individual interest in system behaviour. When combined with fresh approaches to commissioning management development, this is more likely to produce a new generation of healthcare system leaders.
Change on the horizon: The impact of cloud computing on treasury and transaction banking
Authors: Capachin Jeanne
Published: July 2024

Cloud services is not just hype, it is an emerging model for online delivery of business and consumer offerings. For now, cloud services have had traction with consumers and some more generic business processes such as customer relations management and e-mail, but cloud services can be seen as a truly transformative concept which banks and technology vendors must understand and embrace. Looking specifically at the treasury and transaction services that banks provide to their corporate clients, there are opportunities to use cloud infrastructure to build up new offerings. Future treasury services will be delivered as ‘business as a service’, providing a suite of packaged services targeted to specific industries or financial processes. Examples of business as a service solutions that are in the market now provide guidance to banks who see a future in this approach to the market. Although the title of this paper promises a discussion of cloud services, there are also changes in corporate treasury and the technology envir­onment which banks are selling into. Companies are moving ahead with new technology investments. Software as a service has lowered the bar for adoption and is increasing the breadth of services that treasurers have available to them. Banks have an opportunity to develop new solutions to meet those needs. This paper looks at how the status quo has shifted irrevocably, why cloud is important, how treasurers’ roles and requirements have changed, how financial technology providers are evolving and, finally, what banks can do now to make the transition to business as a service.
AGCO Corporation’s vision: Building a globally digitised supply network
Authors: Toornman Greg
Published: July 2024

AGCO Corporation set a strategic vision that would deliver a globally integrated supply chain providing a competitive advantage in the global agricultural equipment marketplace. The vision was wide in scope and ranged from our customers to our external supply chains. The key benefits that AGCO planned to achieve with this strategic vision was very clear: to develop a globally integrated supply network that would deliver agility, flexibility, scalability, standardisation, innovation, increasing performance and cost efficiency. The actual results that were realised exceeded AGCO’s expectations in terms of productivity, financial results, performance levels, agility, scalability and global integration. The paper will provide readers with two insights into how AGCO’s internal culture focuses on innovation, from the initial concept through implementation. One element of the paper will provide insight into AGCO’s internal digitalisation with a deep dive into AGCO’s Google Glass utilisation. The second element of the paper will provide insight into AGCO’s connectivity across its global supply network of 3,000+ direct material suppliers, transportation service providers and 54 internal manufacturing sites. The paper will also provide readers with insight into how AGCO was able to generate a ‘pull approach’ to the implementation and roll-out of the new tools, processes, organisational approach and the new way to work. The initiative’s approach essentially created a culture of the manufacturing sites wanting to have the different digitalisation work streams implemented at their respective sites.
DAMing digital assets: Moving digital assets at the Smithsonian Libraries into a trusted management system
Authors: Dunlop Doug
Published: July 2024

The process of moving digital assets into a management system is not straightforward, especially at a large and diverse place like the Smithsonian Institution, and requires an evolving workflow that takes into account the life cycle of a digital asset. This paper covers one particular path that digital assets can take, in this case, a legacy image collection held by Smithsonian Libraries.
Convergence of measurement systems analysis and artificial intelligence in the supply chain
Authors: Hamilton Jerry , Colaw Christopher L.
Published: July 2024

Just as products and services have inherent variation in them, measurement systems have variation in them as well. The key is to characterise how much variation they have, and to baseline this prior to the start of large-scale production runs. There exist industry standards by which to compare, and the smaller the amount of measurement variation possible is better. Excessive measurement variation in the supply chain can result in unfavourable business impacts including ‘hidden factory’ effects. This paper will address relevant considerations for how to characterise measurement variation in the supply chain through a Gage repeatability and reproducibility (R&R) process, and the application of Industry 4.0, Quality 4.0, data sciences, Big Data and artificial intelligence (AI) and their implications within the realm of measurement systems analysis.
What do we want from the transfer agent service provider?
Authors: Lentschat Christophe
Published: July 2024

Until the late 1990s, transfer agent (TA) work was seen as a secondary activity in the fund accounting-custody chain. TA service providers typically earn relatively low fixed annual fees and a small charge per transaction. As such, they have suffered from a lack of investment in specific TA systems. This paper will examine how the most recent changes in product and distribution dynamics are creating new dynamics in the TA industry. It aims to assess the progress obtained in the automation of core TA functions and the existing potential for the development of new added-value TA services. It will attempt to answer the question of whether TA is still a necessary cost of doing business from a fund administrator and custodian perspective, or whether it is becoming a business line in its own right.
Public credit insurance benefits international trade - but how much?
Authors: Lorié John
Published: July 2024

Little is known about the beneficial extent of public credit insurance for international trade. The subject is investigated by surveying the empirical literature. The survey suggests that a dollar of public credit insurance coverage creates between US$0.7 and US$2.8 worth of exports. The lower value in the previous sentence increases significantly, by 20 per cent to 40 per cent, if the exports involve a country where finance is constrained. While the literature is still in an early phase, the results so far point to clear benefits of public credit insurance for international trade. More research is needed.
The Disability Discrimination Act (Section 3) 20 years on: Has it been successful?
Authors: Mclean Simon
Published: July 2024

It is 20 years since legislation to make access to goods and services equal to both able bodied and disabled people became fully enabled. This paper seeks to establish if the last 20 years have seen significant improvement in access, and whether the terms of the legislation, now part of the Equality Act 2010, are being adhered to. The methodology employed is brief access audits of businesses trading within a shopping centre in North West England. The centre chosen was built pre-legislation, but was refurbished post-legislation. It should have been influenced by compliance with disability access legislation and also the impact of Approved document part M, of the building regulations. The centre had a good mix of independently run businesses, small local chain stores and national chain businesses. There was also a good mix of business types, from retail, catering, fast food, high street banks, and other service industry businesses, all offering goods and services to the public. The results of the audit showed the legislation had only a limited impact, and subject businesses ranged from reasonable levels of compliance to no evidence of any form of compliance. Additional feedback from disabled users was, however, positive.
Driving innovation with collaborative bidding: Advice for CRE professionals
Authors: Vitasek Kate , Van De Rijt Jeroen , Kuchler Magnus
Published: July 2024

This paper is the second in a series on how CRE organisations can improve supplier performance by leveraging collaborative approaches during competitive bidding. Part 1 was featured in volume 9.3 of the Journal. In this paper we examine the most collaborative approach (the Request for Partner process) in more detail and explore its benefits for both buyers and sellers. The paper starts by summarising research conducted by the University of Tennessee (UT) into the changing landscape of strategic sourcing that are causing organisations to deploy more collaborative bidding practices. We then discuss the Request for Partner (RFPartner) process and how it has been successfully used to strengthen strategic CRE outsourcing facilities management relationships. We examine other popular collaborative bidding methods and draw a comparison of the most popular ways to use the RFPartner method. We conclude the RFPartner approach is the best way for organisations to source and craft strategic relational contracts.
How to build the future of teaching and learning while growing from the changes and challenges of 2020–21
Authors: Wiltrout Mary Ellen
Published: July 2024

The challenges of the last two years that the COVID-19 pandemic directly caused or exacerbated will have long-lasting impacts on teaching and learning in higher education. The need now is to thoughtfully evaluate lessons learned and areas of growth to apply in the move forward instead of succumbing to the pressures to return to old systems. Will administrators, instructors and students choose productive and effective paths forward that will enhance learning for all? Or will they slide back into old norms out of comfort or fatigue? How do we extract positive changes from these events? There have been many conversations related to this reflection within higher education. This paper presents the early and hypothesised lasting impacts of the past two years’ events on teaching and learning organised across seven themes: course logistics, tools, activities and assessment for learning, student services and programmes, work culture, attitudes, and relationships. Each theme includes the relevant challenges, the short-term reactions and solutions and examples of continuing positive practices. The process to develop the future of teaching and learning in higher education requires reflection on the past two years and deliberate action to grow from the lessons learned to avoid the pullback to fully pre-pandemic practices.