bluuebunny/crossref_metadata_2025 huggingface dataset:
Marketing strategy and airport revenue at FlyBalaton Airport
Authors: Tiboldi Tibor
Published: July 2024

This paper focuses on major trends in the aviation industry, including the differences between large and regional airports. Marketing strategy is a part of corporate strategy, which has to be analysed, evaluated and implemented in line with other strategy items. This paper will show why switching from the 4P model to implement the 4C model is more suitable for small airports. The paper also describes the consequences of the change regarding customers, airlines and airports as well as the tangible results of such implementation.
The light hand behind the development of Australia's newest international airport
Authors: Brown Matthew
Published: July 2024

Canberra Airport, until recently, was an aviation backwater. The state of the airport masked its importance to Australia's aviation infrastructure network as the gateway to the nation's capital and the only unrestricted major airport along the most populous stretch of the country's eastern seaboard. Canberra Airport is now being transformed through an AUS$1 bn investment programme, with its centrepiece, a new AUS$420m terminal, scheduled for completion in early 2013. This major investment programme, however, was all but abandoned in the face of regulatory failure that stymied investment in airport infrastructure in Australia. The subsequent introduction of lighter-handed economic regulation has seen airport infrastructure investment in Canberra, and Australia, flourish to meet the demands of users. This paper highlights the regulatory hurdles faced by Canberra Airport and how they were ultimately overcome on the way to delivering Australia's newest international airport.
Engaging an army of planners: An eBay case study
Authors: Baldwin Scott
Published: July 2024

Although led by a central corporate group, continuity planning at eBay is conducted by a community of planners native to their own departments. True programme success requires the full participation of these planners. This paper presents a case study of eBay’s experience in achieving and maintaining planner engagement.
Building the future of advisory in private banking
Authors: Danis Muriel , Biggs Diana
Published: July 2024

The wealth management industry is undergoing transformation, with developments, powered by digital, currently starting to accelerate. This paper describes how HSBC Private Banking is leveraging new technologies, such as BlackRock’s Aladdin Wealth platform, to build out a future-focused end-to-end advisory process. It outlines the transformation and new capabilities enabled by technology along each stage of the process and the organisational considerations required for such a transformation. The paper demonstrates how HSBC Private Banking is integrating innovative technologies to better serve clients by building a solution platform foundation for a future state of advisory that blends the best of human interaction with the power of digital.
Delivering outstanding cash management in a consolidating payments market
Authors: Davies Mark
Published: July 2024

This paper considers whether and how the payments market might be consolidating. It examines the revenue streams that are tied to payments activity and links between cash management and other banks businesses. It reviews key strategies and approaches as to how banks can approach cash management internally and deliver an outstanding service externally.
Leading airport security crews: Special challenges and how to overcome them
Authors: Walter Stephanie , Schmutz Jan B. , Grote Gudela
Published: July 2024

Working at security checkpoints is a challenge in teamwork. Although most processes are individual tasks — such as baggage screenings and body searches — threat situations require the sudden and effective coordination of all crew members. However, security screening crews are constantly surrounded by passengers, making communication among members difficult. Despite their obvious practical benefits, scientific studies investigating teamwork in the security checkpoint environment are lacking. This paper presents a qualitative study aimed at obtaining insight into what represents good teamwork in the specific setting of the security checkpoint and how it can be promoted. A particular focus is placed on security crew leaders, who often work as both crew members and supervisors, making their tasks particularly challenging. Twenty interviews were conducted, ten with security screeners and ten with crew leaders. Two independent raters transcribed and analysed the interviews using qualitative content analysis. The results revealed six dimensions essential for effective teamwork at the security checkpoint: clear task distribution, communication, mutual support, proactive work behaviour, interpersonal relationships and as few instructions as possible. Additionally, ways in which crew leaders can support teamwork were identified, categorised into individual prerequisites, task-oriented behaviours and relationship-oriented behaviours. The findings should raise awareness of the importance of effective teamwork in the challenging environment of airport security checkpoints and provide recommendations for security professionals and practitioners to promote teamwork, thus making screening crews more effective and safe.
Building a global business continuity programme
Authors: Lazcano Michael
Published: July 2024

Business continuity programmes provide an important function within organisations, especially when aligned with and supportive of the organisation’s goals, objectives and organisational culture. Continuity programmes for large, complex international organisations, unlike those for compact national companies, are more difficult to design, build, implement and maintain. Programmes for international organisations require attention to structural design, support across organisational leadership and hierarchy, seamless integration with the organisation’s culture, measured success and demonstrated value. This paper details practical, but sometimes overlooked considerations for building successful global business continuity programmes.
Next steps after artificial intelligence pilot projects in the media archives at Yle, the Finnish Broadcasting Company
Authors: Saarikoski Lauri
Published: July 2024

This paper details the implementation of data mining and other artificial intelligence technologies at the media archives of Yle, the Finnish Broadcasting Company. The paper discusses Yle’s strategy for the adoption and application of automated technologies, with a view to providing practical advice to organisations intending to move from pilot projects into the more routine use of such technologies. Current methodologies are also described and analysed, along with the continuous development and design processes that have achieved these results.
Regulatory requirements, logistics and challenges of conducting an effective field audit programme
Authors: Hooks Jim
Published: July 2024

This paper reviews internal compliance examinations for broker-dealers and investment advisers in the light of emerging work trends and regulatory guidance stemming from the coronavirus pandemic. It pays special attention to internal compliance practices, the use of technology and staffing needs before examining factors for firms to consider in determining whether to conduct internal examinations remotely or on-site. It pays particular attention to branch-office examinations. The paper concludes that the most successful firms in adapting to changing workplace conditions and regulatory guidance not only will remain at the forefront of compliance but also can drive their own business forwards.
The Party Wall Act and boundary disputes: An uneasy and often costly co-existence
Authors: Ghasemi Peyman
Published: July 2024

Every day, up and down the country there are a large number of party wall cases that require resolving. There are, however, a few cases among them that, due to historical disagreements between neighbours, mean that the adjoining owners may not want party wall works to proceed. Boundary dispute claims often prevent such developments from taking place in the first place. If, prima facie, such instances are treated with some credence, with injunctive actions to follow, the county courts are inundated with such cases and may not be able to deal with them swiftly. In boundary disputes, building owners may be faced with long delays, However, in the event of adjoining owners wishing to sell their properties in future, obligation for disclosure of boundary disputes would. It is essential that when boundary disputes are made, the disputes are considered alongside the party wall process and ideally outside the ambit of the courts, perhaps through expert mediation to evaluate the validity of the allegations made and rectify the misunderstandings. This paper analyses a boundary dispute in which no amount of diplomacy could deter a disgruntled adjoining owner from stopping the building process by declaring that administration of the party wall process was null and void until the disputed boundary matter has first been resolved.
Updating production workflows and adapting systems: Scaling Omeka to meet the needs of a larger-scale archival digital project
Authors: Antell Haley , Corall Joe , Dressler Virginia
Published: July 2024

This paper addresses the scenario of an academic library working on a larger, grant-funded digital initiative that led to adapting the local instance of Omeka. The adaptations also reflect changes to the larger workflow in place internally. The overview of the new project workflows will be discussed in this paper, and how the Omeka instance has kept up with these changes to date. Many of the modifications were made to the ingest and post-production processes, and one crucial update to the user interface will also be discussed. Kent State University Libraries has been pleased to find the open source solution is quite amenable to system modifications that reflect an agile structure, with the assistance of a skilled library developer. Further, the code is shared via GitHub, with links provided to the specific enhancements in the reference section at the end of this paper.
Instant payments in Asia are changing business models
Authors: Pairman Steven , Sanggita Wanisri
Published: July 2024

The work of instant payments has just begun. This paper aims to inform the reader of how the Asian marketplace is leading as the world moves to instantaneous payments, enabling real-time commerce. Digitisation is creating a technologically interconnected society that treasures immediacy, and payments are integral to this. Immediacy is not only a question of speed; it implies simplicity, ease, convenience and transparency. Across the Asia-Pacific, real-time domestic electronic payment schemes offer instant payments 24/7/365. These occur within seconds, provide immediate confirmation to payer and payee and are irrevocable. New payments models like instant payments foster new ways of doing business. They support an open banking environment that accelerates innovation to create a more cohesive, customer-centric experience, heightening connections between merchants and consumers as well as businesses and their supplier ecosystems. The unprecedented level of interconnectivity enabled by application programming interfaces (APIs) in an open banking environment, combined with instant payments, will enable banks to unleash vast troves of information related to payment flows. There is a massive opportunity for growth in domestic and cross-border markets. Companies readily will adopt instant payments where there is a compelling case for improving business.
A team effort: Overcoming digital appraisal anxiety through communication and collaboration
Authors: Hagen Alexa , Kim Hyeeyoung , Virakhovskaya Olga
Published: July 2024

The University of Michigan’s Bentley Historical Library (BHL) collects physical and born-digital archival records of the University of Michigan as well as of the State of Michigan, its organisations and its people. To streamline and better inform its processes in order to provide efficient and effective access to digital archival materials, the BHL’s curation team analysed its processes for the technical and intellectual appraisal of records. This article describes the challenges associated with the technical and intellectual appraisal of digital records, analyses the work of a cross-team group of BHL archivists, and makes recommendations for the expedient and informed appraisal of large sets of born-digital records.
The rates benefits of the new Enterprise Zones
Authors: Thompson James
Published: July 2024

The new Enterprise Zones (EZs) announced in the Chancellor’s 2011 budget will be a pale shadow of those designated in the 1980s. Restricted by EU limits, rates benefits are small, and exemptions are limited to low rateable value. Benefits will fall to sponsoring councils in Local Enterprise Partnerships sponsoring EZs however. Being able to retain the benefit of growth in business rates for a period of 25 years, they will have a powerful incentive to promote development that will increase the rateable value within the EZ.
Visually speaking: An expanded role for digital media management
Authors: Krogh Peter
Published: July 2024

In nearly all types of business endeavour, visual media objects have quietly moved far beyond their traditional role as marketing tools to become first-class documents. At the same time, the complexity of visual media objects is rapidly expanding, and now incorporates dimensionality, data and linkage as essential components. As institutions grapple with the increasing requirements for the use of visual media objects, the digital asset management (DAM) stack — staff, software, expertise — can play a central role. This paper calls for the scope of the DAM mission to be widened and for DAM tools to meet those requirements. This paper is adapted from the first chapter of ‘The DAM Book 3.0, Digital Asset Management for Photography’ (DAM Useful, 2018, http://www.thedambook.com).
Using MASEM to explore the psychological mechanisms linking salespeople's job satisfaction and performance
Authors: Chen Chien-Chung , Chen Hong , Liu Yan
Published: July 2024

Satisfied and involved salespeople not only benefit themselves but also contribute to the profitability of their sales organisation. However, no sales research focuses on salespeople's psychological states driving salesperson involvement to sales performance. This study classified salespeople's psychological states influencing sales performance by the objects related to salespeople and the motivational states. The three psychological states are salespeople's motivations for the salespeople themselves (intrinsic motivation), their organisation (organisational commitment) and their customers (customer orientation). In addition, no meta-analysis or empirical sales study has yet identified and clarified the interactions between the salespeople's three psychological states or shown how they mediate the link between salespeople's job satisfaction and performance. This study involved the collection of 141 empirical sales articles (1971–2022) from 26 journals and coded 275 effect sizes with 72,668 survey responses. Meta-analytic structural equational modelling (MASEM) was used to analyse the data and test the conceptual model. The results support the hypotheses: salespeople's job satisfaction is positively related to intrinsic motivation and organisational commitment; salespeople's intrinsic motivation is positively related to job performance, organisational commitment and customer orientation; salespeople's organisational commitment is positively related to job performance; salespeople's customer orientation is positively related to job performance. However, two are not supported: the hypothesis proposing a relationship between salespeople's job satisfaction and customer orientation, and that proposing a link between salespeople's organisational commitment and customer orientation. Based on the findings, a map of the salespeople's three psychological states is proposed, illustrating the link between salespeople's job satisfaction and performance, revealing the dominant role of salespeople's intrinsic motivation in driving the other two psychological states, and identifying the two-way causal relationship between salespeople's intrinsic motivation and job satisfaction. This study also offers marketing analytic professionals a clear roadmap for what the crucial variables are and marketing managers practical advice on how to promote and control the sales force.
A commitment to diversity, equity and inclusion: A seven-sector framework to transform higher education access, success and completion
Authors: Reece Anton , Emmons Lee
Published: July 2024

As the US continues to navigate the historic impact of the COVID-19 pandemic on cities, counties and states, higher education has also been affected, particularly diverse, lower socio-economic and first-generation students. Although access to education has always had common challenges including financial, transport, childcare and access to broadband and Wi-Fi, the achievement and success gaps have had a disproportionate impact on some students. Overall student excellence is a top priority at West Kentucky Community and Technical College (WKCTC), particularly given its achievement of being a record five-times top-ten college nationally and twice a finalist with distinction, including in May 2021. Therefore, areas of deep concern were not only access, success and equity, but also a lack of developed committees to identify, address and implement strategies to address those gaps. What was also missing was adequate funding to meet the large and varied needs of our regional student populations. In December 2020, WKCTC was the recipient of a record US$15m gift from philanthropist Mackenzie Scott, which is the largest single donor gift in the college's history. The college advanced a bold and transformative vision to address and remove financial barriers and barriers to regional access and success in higher education by incorporating diversity, equity and inclusion (DEI) through a seven-sector vision developed by the president.
The rise of the casino resort
Authors: Morgan James
Published: July 2024

The Gambling Act 2005 has thrown a potential lifeline to some seaside resorts wishing to use public access casinos as cultural regeneration tools. The general perception that the UK’s seaside resorts are in decline has been addressed by various regeneration strategies. The spatial reorganisation and transformation of resorts through a cultural lens is a popular tactic to recreate place as an environment for consumption, but this may create tensions within host communities. There are questions to be asked as regards the scale, style and representation of this form of leisure activity. Heavyweight regeneration involving moral and values adjustments creates conflict and needs special consideration. The paper argues that the intended regeneration benefits of this legislation will be achieved only through significant engagement with local communities. Taking serious account of their visions for their towns and how casinos fit within those visions is vital.
From legacy systems to modernisation: A case study on migrating to a new customer relationship management system
Authors: Elsberry Christian , Price Trevor
Published: July 2024

This paper presents a case study of how one mid-size institution of higher education found themselves modernising their database of record with a new customer relationship management (CRM) system, while managing the realities of limited funding and staffing, changing strategies and organisational legacies of longstanding policies and processes. At their core, changes to systems are organisational changes. Software systems are updated in line with the changing technological improvements in global cultures and their intersection with the evolving needs of institutional strategies. At its best, a system and software update's primary purposes are to serve and amplify the people who design, build and work within those systems. As with everything involving change, there needs to be an honest assessment of the organisation's strengths and weaknesses in the areas of cultural readiness for the necessary human engagement and support for the updated systems, an actionable plan hung firmly on the vision and strategies outlining the specified changes and, most crucially, an evolving staffing alignment of skilled professionals to business needs. CRM conversions are a worthy test of these three essential pillars of successful systems change.
European cyber security law in 2023: A review of the advances in the Network and Information Security 2 Directive 2022/2555
Authors: Singh Charanjit
Published: July 2024

Cyber security capabilities must be designed to mitigate attacks and threats to key network and information systems and ensure continuity in service provision, contribute to the security and effective functioning of economies and societies, and the Network and Information Security 2 Directive (NIS2) seeks to strengthen the European Union (EU) approach to this. Advances in artificial intelligence (AI) have revolutionised industries including banking (FinTech), law (RegTech), insurance (InsureTech), charities (CharityTech) and health (HealthTech). The EU understands this and has therefore introduced the requirement for member states to embrace AI, as a cyber security tool used to protect against and prevent cyber security attacks/threats. The purpose of this paper is to review the NIS2 and the changes it makes to the European approach to cyber security including the use of AI, and the implications for businesses subject to the new rules. The subject is explored through an analysis of literature, EU law and policy documentation. This paper critically reviews a significant advent in European cyber security and technology law: the advances created by the NIS2 Directive, which are considered alongside other key legislation that came into force in January 2023. In addition, the UK’s contrasting evolving position is also critically reviewed. The paper concludes with several practical suggestions on the, if any, steps for businesses as at April 2023. The NIS2 makes some significant inroads to close security gaps that existed in the EU cyber security-related legislative framework; importantly, it creates a requirement for the use of AI in the EU’s cyber security defence armoury. Businesses need to undertake several steps in preparation for full implementation of the NIS2. This research is among the first to review key advances made in EU cyber security and technology law, and to contrast that with the UK position as at April 2023. It is also the first to discuss the likely powers of competent authorities, and the potential results of breaching other EU legislation such as the General Data Protection Regulation (GDPR).
Sustainable business strategies: FM's impact on a company's targets
Authors: Hardkop Guido , Häusser Thomas
Published: July 2024

Sustainability is a major topic for the real estate industry, but the impact of facilities management (FM) on a company's objectives is still not clear. Due to the fact that decision makers have little time to concentrate on details, a system was developed to link FM contributions to company targets. This system makes it possible to allow a non-technical client to understand the produced effort and recognise the usage for their portfolio. As a result, it leads to a sustainability strategy, which comprises both business targets and the contribution of secondary processes.
MiFID II and EMIL: The impact of regulation on securities operations in European markets
Authors: Pickles Chris
Published: July 2024

Market reviews and consultations have already begun in order to introduce appropriate post-MiFID ‘tuning measures’ across EU financial markets, and these, combined with European Market Infrastructure Legislation (EMIL) that is under consideration for the post-trade sector, will alter the shape of financial markets in Europe. As well as presenting new and additional responsibilities that will change securities operations, they are also expected to create new commercial opportunities for financial institutions and service providers. Financial institutions are stating more frequently that, in reality, change will only occur as a result of regulation, and buy-side firms are surprising themselves by proposing the need for a regulatory approach to industry change. The operational changes that will result from these regulatory changes will require different service and IT infrastructures to those that many financial institutions rely on today. Market transparency and reference data, European Best Bid and Offer prices, de-risking trading and the increased use of CCP services are major practical topics for securities operations professionals for the coming years. Changing processes will need changes to the IT strategies of financial institutions, particularly as technology itself is changing in parallel.
Using weak supervision to scale the development of machine-learning models for social media-based marketing research
Authors: Cutler Jennifer , Culotta Aron
Published: July 2024

Marketers have expressed substantial enthusiasm about the potential of social media data to enhance marketing research, and the computer science literature provides many examples of using the text and network connections of social media users to infer measurements of interest to marketers. Despite this, the adoption of such machine-learning approaches has been surprisingly limited in marketing practice, in part due to the hurdle of procuring the labelled training data typically used to build such models. This paper discusses how the organic structure of social media can often be leveraged to circumvent the need for such curated data labels. It describes two emerging methodological themes of weak supervision — training on exemplars and training on groups — that are broadly promising towards this goal, providing examples of how they have been applied towards a variety of marketing tasks without requiring any manually labelled training data, and in some cases, requiring nothing more than a single keyword as input. This paper presents these approaches in the hope that examples will inspire and facilitate the development of a broader range of flexible, scalable and cost-effective models for social media-based marketing research, and stimulate additional research in this area.
Building a global digital identity infrastructure
Authors: Leibbrandt Gottfried , Goldscheider Daniel
Published: July 2024

This paper lays out the need for an electronic identity infrastructure. After describing the landscape, current alternatives and hurdles to overcome, it proposes a way forward, based on the recently launched Global Assured Identity Network, which leverages existing identity and authentication mechanisms. This network uses an architecture that keeps the customer in full control of their personal data, and is based on OpenID Connect and Financial Grade API. The proposed solution is described in detail, including the way to adoption and the trade-offs and considerations that underpin it.
A primer on cash management
Authors: Baby Geevar
Published: July 2024

This paper considers successful cash management, which involves not only avoiding insolvency but also selecting appropriate short-term investment vehicles and increasing cash on hand to improve an investor’s cash position and profitability. The paper discusses the following: the term ‘cash management account’ refers to a type of account offered by brokers, dealers and other financial institutions. This type of account combines a brokerage account with a checking account. Broker-dealers have either their own information technology infrastructure or leverage their custodian’s IT infrastructure to provide cash management facilities to their clients. There are two broad products under the cash management service:

•Automated cash management, which provides automated sweep facilities for short-term investment.
•Asset management account, which provides retail-banking facilities for using the free cash, along with the sweep facilities.

A sweep account is a bank account that automatically transfers amounts that exceed, or fall short of, a certain level into a higher interest-earning investment option at the close of each business day. Commonly, the excess cash is swept into money market funds or Federal Deposit Insurance Corporation (FDIC) deposits. FDIC is a federal institution that offers sovereign deposit options.
The future of outsourcing and perspectives for the corporate real estate and facility management industries
Authors: Ankerstjerne Peter , Brown Kyle , Saunders Jeffrey
Published: July 2024

The future of outsourcing is less about driving cost reductions and more about generating positive outcomes in support of organisations’ strategic objectives. Organisations will seek to leverage outsourcing in new ways that offer them advantages such as innovation, growth, brand protection and access to both talent and new markets, in addition to cost flexibility and cost-savings. It is here that relationships become increasingly important, especially with corporate real estate (CRE) and facility management (FM) service providers. According to this research, the relationships between sourcing firms and outsourcing providers are evolving from being transactional towards a spectrum of relationships based on various degrees of interdependence. Outsourcing is growing more complex to accommodate new market needs. This paper highlights several of the key trends and major shifts in the outsourcing landscape, and outlines five emerging sourcing approaches that capture the changing nature of outsourcing relationships towards 2020 and beyond, with implications for CRE and FM. The five emerging sourcing approaches are: crowd sourcing, solution sourcing, network sourcing, co-sourcing and mesh sourcing.
The cultivation of brand knowledge and purchase intention among brand followers on social media
Authors: Wei Yujie
Published: July 2024

Social media marketers use various narrative methods to attract and engage followers. Unfortunately, however, the extent to which such marketing impacts on consumer brand perception and behaviour is difficult to measure, and the social media marketing literature offers little in the way of guidance. This study draws on the cultivation theory to investigate how following a brand on social media (specifically, Twitter) for three months can increase brand knowledge and influence purchase intentions. The findings indicate that brand followers can learn brand knowledge from stable, pervasive and regular tweets on Twitter, and this in turn has a positive impact on purchase intentions. The impact on purchase intentions, however, is moderated by brand type (hedonic or utilitarian) and consumer age. Thus, when formulating social media marketing campaigns to optimise purchase intentions among consumers of both hedonic and utilitarian brands, marketers must adapt their content strategies in line with their followers’ needs for brand knowledge, and tailor the experience to meet the needs of different age groups.
The privatisation of Madinah Airport, Saudi Arabia
Authors: Youssef Waleed
Published: July 2024

The first privatisation of an entire airport in the Arabian Gulf was concluded at Madinah airport, Saudi Arabia on 21st June, 2012, and represented a milestone for traditional airport transactions. This paper discusses Saudi Arabia's progressive experience with airport public–private partnership, summarises the award-winning Islamic finance structure, and presents the results of the first nine months of this pioneering transaction.
Reforming the OTC credit derivatives market
Authors: De Meijer Carlo R.W.
Published: July 2024

The regulatory, operational and market infrastructures environment for OTC credit derivatives, especially credit default swaps (CDSs), is changing rapidly. Although final regulation has not yet been approved, it is nevertheless possible to speculate how the credit derivatives and especially the CDS landscape will look once new regulation is implemented. Priority has been given to more transparency and the establishment of one or more central counterparties clearing houses for CDSs. It has been recognised by the industry that introducing a model similar to that for exchanges might wipe out the added value of OTC credit derivatives, undermining their very existence. Most in the CDS market now accept that central clearing will become common practice. The recent turmoil has forced banks to reassess counterparty risk posed by other dealers. They are now much more receptive for centralised clearing of derivatives.The possibility of one global central clearing house for CDS transactions is limited given the wish of both EU and US authorities to strive for a regional solution. An excessive proliferation of (regional) clearing houses is not to be expected, as that would limit the ability of the central counterparty clearing house (CCP) to reduce financial risks through multilateral netting. CCPs, however, may not be able to handle all types of CDS trades given the much customised, non-standardised nature of them. Because of the global nature of the credit derivatives market, there is an urgent need for international regulatory and supervisory cooperation and coordination, as well as a necessity to create global standards for these markets. In the meantime more than one clearing house in the EU has been set up, but that will ask for interoperability.
The European cards environment and ISO 20022
Authors: Bruggink Diederik , Karsten Pierre , De Meijer Carlo R. W.
Published: July 2024

The current cards environment in Europe is fragmented in terms of business solutions and technical standards. Both the goal of the European Payments Council (EPC) to realise a SEPA for Cards, as well as the influence of other market trends and developments, have highlighted this fragmentation. The current situation no longer meets the future business and security requirements of the European cards industry. This industry is asking for more efficiency, for lower costs, and for straight-through-processing (STP). A key element that may be triggering the whole evolution of card payments is regulation. Without that element, it is unclear whether the evolution of the market would have been so rapid. Greater standardisation and the search for better interoperability are certainly outcomes of changing regulations. There are a number of other factors that are driving the development of the cards industry. In the future, businesses are likely to require better efficiency, interoperability and optimised end-to-end processing. This underlines the growing need for further standardisation. Security and the evolution of security requirements in card payments will also be essential considerations. SEPA for Cards asks for more harmonised standards and interoperability in the European end-to-end card space. This should be achieved by replacing the various local standards with common, global, open standards. The Eurosystem has asked the EPC to provide clarity on all standards currently used or under development for end-to-end card transactions, and to recommend which will be used for SEPA for Cards. There are a number of initiatives in the different domains of the cards value chain such as EPASOrg and the Berlin Group that are giving direction to a possible outcome. There are some difficult questions that need to be answered. Is it possible to agree on one standard? What standard will fit into the new business and security requirements? Does the current ISO 8583 standard used in the Acquirer-to-Issuer space suffice, or should one change over to the more recent ISO 20022? Is a Europe-wide solution enough or should a more international standard be chosen given the globalisation of financial markets? And what are the challenges of adopting common industry standards through the whole value chain?
The anatomy of successful digital transformation: The role of analytics
Authors: Bughin Jacques , O’Beirne Barbara , Deakin Jonathan
Published: July 2024

Among incumbent companies, digitisation (ie the process by which companies leverage digital technologies in order to transform their business system), tends to be a rather slow process. This is in no small part due to the complexity of mastering the various elements of successful digital transformation. Based on extensive statistical analysis of the failure and success of almost 1,000 digital transformations by traditional firms worldwide, this paper finds that success is increasingly linked to mastering analytics.
Change management models for workplace transformation
Authors: Mandel Alicia , Temmink Colette , O'Mara Martha
Published: July 2024

The purpose of this paper is to demonstrate how corporate real estate (CRE) leaders can ­proactively support strategic change efforts across a range of corporate initiatives, including workplace change. The authors demonstrate the effectiveness of applying deliberate change management ­models — in particular the ‘eight-step process for leading change’ by John Kotter — along with a next-generation model to guide the change process. A staged approach that addresses emotional engagement is shown to be an essential element of the successful implementation of change. This paper combines a literature review, expert knowledge and case study data. To demonstrate the models in action, case studies of change initiatives at Apollo Education Group (Apollo) are examined and further illustrated using six Fortune 100 sized company case studies of CRE high-performance workplace implementation undertaken in 2011 by Corporate Portfolio Analytics. Using both sets of cases underscores the generalisability of the change management models. The findings show how change management processes that proactively incorporate emotional engagement can be effective in CRE initiatives and other corporate change efforts. Supporting or initiating change management programmes is an important new domain of the CRE function because many operational and process changes impact the physical workplace. Engaging the emotional and operational elements of a change management effort is essential for success. This study is one of very few that includes actual case data about CRE change management programmes. In addition, this is the first paper to test Kotter's model in the context of CRE practices.
ICO fines Ticketmaster UK Limited £1.25m for failing to protect customers’ payment details
Authors: Bennett Joanne
Published: July 2024

This paper discusses the finding of the Information Commissioner’s Office (ICO) against Ticketmaster UK Limited (Ticketmaster), which was fined £1.25m by the ICO for failing to keep its customers’ personal data secure. The Information Commissioner determined that Ticketmaster’s failure constituted a breach of the General Data Protection Regulation. In its findings, the ICO held the company should have done more to reduce the risk of a cyber-attack, including in relation to its use of third-party JavaScript on the payment page of its website. Ticketmaster’s breach led to millions of individuals in the United Kingdom and Europe being exposed to potential fraud. The financial sanction sends a message to other organisations ‘that looking after customers’ personal data safely should be at the top of their agenda’. Ticketmaster has indicated that it will appeal the fine. This paper additionally provides some practical tips to data protection practitioners to mitigate against similar breaches.
IFR/IFD: Practical implications of a new prudential regime for principal trading firms
Authors: Dorst Diederik
Published: July 2024

The Investment Firm Regulation and Directive package (IFR/IFD) presents a unique opportunity to design a bespoke European prudential regime for investment firms, including principal trading firms. Principal trading firms trade financial instruments for their own account and own risk and do not hold or manage client assets or money. The current Capital Requirements Regulation and Directive (CRR/CRDIV) were designed for banks and incorrectly assess risks connected to investment firms (such as trading firms). These types of firms have fundamentally different balance sheets, portfolios, holding periods and business models to which current metrics are not very well attuned. Although IFR’s methodologies are quite elegant in prescribing required capital for an incredibly diverse population of over 6,500 investment firms in Europe, there remain quite a few issues to be resolved. This is important because if metrics are implemented incorrectly, they may limit liquidity provision and risk transfer in the financial markets, thus affecting stability. Addressing these key elements will bring IFR/IFD closer to the policy intent to simplify and better tailor capital requirements, and other prudential requirements, to investment firms in order to make European markets more secure and more competitive.
Management of airside delays
Authors: Janic Milan
Published: July 2024

Flight delays — defined as any flight departure or arrival that falls more than 15 minutes behind schedule — have become an inherent feature of the modern air transport system. Delays are caused by internal and external factors working individually and/or in combination. The main internal factor is the imbalance between the demand for flights and the capacity of the given air transport system component(s); this may happen under both regular and irregular operating conditions. For example, in the former case, capacity may not meet demand because of airline scheduling practice. In the latter case, capacity may not meet demand because of unforeseen shortcomings with certain system component(s). This paper analyses flight delays in the airport airside area and discusses the following measures for their mitigation: demand management, improvement of existing airside (runway) capacity and physical expansion of airside (runway) infrastructure.
The evolution of plaza waterproofing in America
Authors: Henshell Justin
Published: July 2024

Plazas over occupied spaces proliferated when they became feasible for below-grade activities. Their usage was spurred by the advent of air-conditioning and city incentives for open spaces. Coal tar pitch waterproofing membranes, which had provided reliable waterproofing with split slab construction, fell out of favour as a result of the shortage of coke, the labour-intensive application costs, and the imposition of stringent VOC requirements. Asphalt-based substitutes failed to perform because differential movement of the wearing courses imposed stresses beyond their capabilities. As a result, investigators recommended divorcing wearing surfaces from drainage courses and later insulation layers. This freed waterproofing manufacturers from the need to develop membranes that could absorb the shear stresses that destroyed multiple-ply asphalt systems. After World War II, advances in polymer chemistry fostered the development of liquid-applied membranes. These, along with imported elastomeric sheets from Europe and rubberised asphalt from Canada, revolutionised the plaza waterproofing industry.
Innovation by the numbers (Part 2): Implications and opportunities for the emerging role of advanced analytics in the workplace
Authors: Osgood Robert T.
Published: July 2024

In Vol. 2, No. 4 (2013) of Corporate Real Estate Journal, the author summarised a decade-long research project focused on studying innovation teams across more than 110 projects with Fortune 1,000 companies. A key aspect of the research was the exploration, development and testing of what became known as the ‘innovation-connectivity (I-C) performance path’, a model for exploring the interrelated ways in which 16 elements of people, technology and place (P-T-P) can be employed to enhance team processes and enable innovation. Throughout 2014, the author built on this research by studying the team and individual work processes of advanced analytics and big data teams in 22 large companies in North America. Analytics is a method of gleaning intelligence from data and using it for evidence-based strategy, ongoing operations and real-time decision making that translates into business advantage. In the broadest terms, analytics teams sort through huge amounts of data to uncover ways to drive innovation by doing something new or different. Given their focus, analytics teams proved to be excellent case studies to use to apply the I-C performance path, which in previous research showed that innovation teams rated highly on all 16 elements of P-T-P, demonstrated significantly higher levels of collaboration, better project results and superior overall innovation performance. Analytics teams reinforced the relevance of the 16 P-T-P elements, consistently describing their application in a unique way specific to their daily work processes. Due to space constraints, the material has been divided into two parts, appearing in successive issues of the Corporate Real Estate Journal. Part one, which was featured in the previous issue (Vol. 4, No. 4), provided an overview of the field of analytics and the processes undertaken by the data scientists who perform the work. Part two focuses on a comprehensive discussion of ways in which P-T-P can be used to enable superior performance for analytics teams.
Healthcare quality: An empirical analysis in urgent care
Authors: Rosen L. Drew , Scott Rebecca A.
Published: July 2024

Today’s healthcare system is especially complex and significantly different from what it has previously been. This paper reviews the impact that health-care quality has on consumers and what needs to be done in order to successfully navigate the system and advocate for further quality improvements. The literature is replete with research relating to healthcare in hospitals and healthcare in general. There is a gap in the literature relating to service quality in urgent care facilities, in particular the important dimensions of quality that should be the focus in the urgent healthcare field. With the new Affordable Healthcare Act taking hold, we expect to see more and more consumers using urgent care facilities, versus a traditional healthcare provider, making this research very timely in uncovering the drivers of quality health care in the urgent care domain. Current research in the healthcare system is especially complex and significantly different from what has been previously discussed in the literature. The current study examines the nature of the association between service quality as perceived by patients and its service determinants. With the assessment knowledge generated by this study, we will be able to provide guidelines for operating strategies that urgent care facilities need to successfully compete in the ‘new world’ of affordable health care.