Article 1-Risk Management for Business Owners: How to Deal with the Uncertainties Of the Tax Cuts and Jobs Act of 2017.
Article 2-A three-stage real options model on fire risk management decision-making under the fire loss frequency uncertainty.
Article 3- Analysis of the financial risk under uncertainty in the municipal solid waste management involving multiple stakeholders.
Article 4- Resilience unpacked - framing of 'uncertainty' and 'adaptability' in long-term flood risk management strategies for London and Rotterdam.
Article 5- The performativity of risk management frameworks and technologies: The translation of uncertainties into pure and impure risks.
Article 6- Thinking beyond the unthinkable: risk management, strategy to contain uncertainty.
Article 7-Risk management for forestry planning under uncertainty in demand and prices.
Article 8-Decision making under uncertainty, therapeutic inertia, and physicians' risk preferences in the management of multiple sclerosis (DIScUTIR MS).
Article 9- The Biographical Management of Risk and Uncertainty- British Veterans.
Article 10- Decision-making under risk and uncertainty and its application in strategic management.
Introduction
Decision making process is a staff or the faculty that is most essential evident in almost all that any business organization can do. From the ordinary to the consequential, the risk management processes of any organization are guided by the choices that any organization can make (as influenced by Parrish, 2018). Consequently, it is imperative to see how people decide, so they will be able to know about how different components may have applied an impact on past choices, thus that people might be capable to enhance future choices in the different decision making processes as well as the risk effect and high stakes process structure of decision making. In decision, making process-structure risk effect process and high stakes can be the major part for an organization. According to Aerts et al.(2008), the current research paper mainly focuses on different decision-making factors of high stakes and risk effect that are also associated with the different risk management articles.
Some different articles have been chosen in order to evaluating the risk effect as well as high stakes decision-making process in an organization. “Risk Management for Business Owners” is one of the major part to analyze the risk management process of any business organization. This research paper also sheds light on the different risks through which any organization would be able to moves speedily, playing at leisure time for mistakes created in speed, and that can be evaluated in this article (Merigó, 2015). In the same way, the current research paper also sheds light on the different approaches of controlling the risks that may be associated with the different companies or organizations in regards to advanced planning for the value of different risk management processes in order to manage the risk effect and high stakes (Saposnik et al. 2016).
Article 1-Risk Management for Business Owners: How to Deal with the Uncertainties Of the Tax Cuts and Jobs Act of 2017
REFERENCE | Parrish, S. (2018). Risk Management for Business Owners: How to Deal with the Uncertainties of the Tax Cuts and Jobs Act of 2017. Journal of Financial Service Professionals, 72(4). |
AIM/PURPOSE | The writer explained about the objectives for this article as well as, 1) there is a risk that the client avoids the rule, missing out on short-term scopes and 2) there is a risk that the client prepared with imperfect information, moves speedily and playing at leisure time for mistakes created in speed. |
ARTICLE TYPE | Journal |
METHOD (research papers only) | This is non-research paper. |
APPROACH (non research papers) | In this article it contains the new tax legislation arrives; risk is not extreme on its heels (Parrish, 2018). With the Tax Cuts and Jobs Act of 2017 it has been shown that another risk of constant uncertainty. Mainly in the business tax sectors, the rule still has uncertain terms, builds unintentional results, and has intentionally incorporated sunset conditions. |
FINDINGS (research only) | . This is non-research paper. |
CONCLUSION (non research only) | In this article there is a risk that the client avoids the rule, missing out on short-term scopes. This study applies a sample of risk management with the Tax Cuts and Jobs Act of 2017. Where it has been shown that another risk of constant uncertainty. |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | The reference is related with the reference of article 4 where both of the article have the main target on the topic is the deal with the uncertainties of risk management. |
STRENGTHS | This article indicated the point that is very clear and gave many examples for carries the importance of understand the risk management. |
WEAKNESSES | The author did not explained that how to recover the risk management. |
Article 2-A three-stage real options model on fire risk management decision-making under the fire loss frequency uncertainty
REFERENCE | Lee, J. C., & Lin, T. T. (2018). A three-stage real options model on fire risk management decision-making under the fire loss frequency uncertainty. Asia Pacific Management Review, 23(1), 37-44. |
AIM/PURPOSE | This paper aims to assume the exact selections move toward to the fire risk management decision-making of another fire insurance and fire safety services in the situation of the fire loss occurrence indecisively. |
ARTICLE TYPE | Research |
METHOD (research papers only) | This paper inspects the rate of the topic that can be derivative through adding principal expands with cash flows (Lee & Lin, 2018). |
APPROACH (non research papers) | This is research paper. |
FINDINGS (research only) | The research findings may provide like a reference towards the fire insurance companies and fire safety service suppliers in the plan of innovative inventions and service donations. |
CONCLUSION (non research only) | The conclusion comes with the expensive decision-making suggestions to the appropriate organizations. That paper builds a three-stage copy to examine the occurrence of fire loss with a dynamic point of view and recommends the best timing to purchase fire assurance or establish a fire safety method. |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | This article reference is related with the reference of article 8 where both of the articles is related to assume the exact selections move toward to the fire risk management decision-making of another fire insurance and fire safety services in the situation of the fire loss occurrence indecisively. |
STRENGTHS | This article indicated the point that is very clear and gave many examples for carries the importance of understand the risk control purposes and install the security methods. |
WEAKNESSES | The author did not mentioned that how to avoid the risk in decision-making. |
Article 3- Analysis of the financial risk under uncertainty in the municipal solid waste management involving multiple stakeholders
REFERENCE | Diaz-Barriga-Fernandez, A. D., Santibañez-Aguilar, J. E., Nápoles-Rivera, F., & Ponce-Ortega, J. M. (2018). Analysis of the financial risk under uncertainty in the municipal solid waste management involving multiple stakeholders. Computers & Chemical Engineering, 117, 433-450. |
AIM/PURPOSE | The aim of this paper is for the planning strategic of a community total damage management method under indecisively. The article mentions the engaged works like the reuse, recycle and distribution. The objective is for the various engaged stakeholders with the aim of increasing the advantage to each participate. |
ARTICLE TYPE | Journal |
METHOD (research papers only) | This is not research paper |
APPROACH (non research papers) | The approach of this article is based on the historical information is applied to initiate three various kind of economic risk stages. The article mentions the engaged works like the reuse, recycle and distribution. |
FINDINGS (research only) | This is not research paper |
CONCLUSION (non research only) | This article found the outcomes that give some additional data about the methods and the stakeholders will be more positive of building any decision. This paper is for the planning strategic of a community total damage management method under indecisively. |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | The reference is related to the reference of the article 5 for both those references are focused on the multi-matter optimization. |
STRENGTHS | This article indicated the point that is very clear and gave many examples for carries the importance of understand the risk control purposes (Diaz-Barriga-Fernandez, Santibañez-Aguilar, Nápoles-Rivera & Ponce-Ortega, 2018). |
WEAKNESSES | The author did not mentioned that how to avoid the risk in decision-making. |
Article 4- Resilience unpacked - framing of 'uncertainty' and 'adaptability' in long-term flood risk management strategies for London and Rotterdam.
Reference | Restemeyer, B., van den Brink, M., & Woltjer, J. (2018). Resilience unpacked: Framing of ‘uncertainty’and ‘adaptability’in long-term flood risk management strategies in the regions of London and Rotterdam. European Planning Studies, 36(8), 1559-1579. |
Article Type | Journal |
Aim or Purpose | The purpose of the research is Resilience is detained as an innovative concept to create a paradigm shift from traditional floor obstacle to the addition of flood risk management and spatial planning. The core ideas of the resilience narrative are that ‘nothing is certain except uncertainty itself’ as well as ‘adaptability’ is key to ‘governing the unknown.’ |
Method | It is Journal article |
Findings | The TE2100 plan is an addition to present policies. The content was enhanced in parallel procedures of policy-making on the national and regional level within 2010 to 1014. The result generates the policy strategies for flood prevention and fresh water supply (Restemeyer, van den Brink & Woltjer, 2018).The Dutch Delta programme’s decision was included in present policy tools like flood protection program and the National Water Plan. During the strategies development, the frame of a ‘joint fact-finding’ was assumed. |
Significance | The importance of this policy is analysing the processes of the framing of the strategies of flood risk management in the London and Rotterdam region. It displays the resilience, which is far from ‘depoliticized’. The policy controls flood damages, it recovers the risky encroachment and enhancement within floodplains and it recovers and protects the life and properties of the citizen. As well as it prevents public health, minimises the financial burden on communities, enhances wildlife and supplies fresh drinking water. |
Weakness | Investigating the meaning-making process for two particular long-term strategies of flood risk management discloses that there is more preferable to observing and maintaining the present system in its place of transforming it. |
Article 5- The performativity of risk management frameworks and technologies: The translation of uncertainties into pure and impure risks.
Reference | Themsen, T. N., & Skærbæk, P. (2018). The performativity of risk management frameworks and technologies: The translation of uncertainties into pure and impure risks. Accounting, Organizations and Society, 67, 20-33. |
Article Type | Research |
Aim or Purpose | Investigating the meaning-making process for two particular long-term strategies article analyses the long-time vibrant with a best practice risk management technologies. the purpose of this article displays the framework and technologies by the power of vision to refresh the work of risk consultants and create boundaries of the forms of uncertainties.s of flood risk management discloses that there is more preferable to observing and maintaining the present system in its place of transforming it. |
Method | This article runs with the way of telling exciting stories by creating on an experiential case study. The case study method permit to find the relation and dynamics between the human and non-human factors included in the risk construction. This method permits to define the generative path of any narration (Themsen & Skærbæk, 2018). |
Findings | This case study of explores a multi-billion-euro-mega-project. this article has inspected the long-term performative Dynamics among a best practice risk management framework, technologies of risk management and the translation of doubts into risks. |
Significance | The article explains that the PMBOK framework and the IT-based system achieve the structure of risks by establishing the boundaries of the forms of worries that were accepted and therefore, incorporated as risks. The taken risks are made ‘pure risks’, conversely the excluded risks are tagged as ‘impure risks’. |
Weakness | The achievement of the risk management is complicated and inconsistent. It is a core finding of this paper. Consequently, we suggest that more researches need to follow this line of enquiry. |
Article 6- Thinking beyond the unthinkable: risk management, strategy to contain uncertainty
REFERENCE | Hovden, J. (2004, April). Risk and uncertainty management strategies. In 6th International CRN expert workshop, Stockholm (pp. 22-24). |
AIM/PURPOSE | The main aim of this particular paper is to identify the challenges that the leaders are facing and the managers are giving an attempt in order to prepare their organizations for engaging themselves in managing the crisis in an efficient manner. |
ARTICLE TYPE | This is a Journal. |
METHOD (research papers only) | The current article includes contributions from role theory, multilevel theory and learning theory and applies it to the theory of management that is developed over the past two years. |
APPROACH (non research papers) | Different concepts have been drawn from several theories, which will help in the identification of the challenges that the leaders face and for which the managers tend to prepare the organization to eliminate the issues from the organization. |
FINDINGS (research only) | . This is a non-research paper. |
CONCLUSION (non research only) | Drawing insights from the article, it can be concluded that, there has been a common trend in Europe and US that for the last 15 years there is a dominance of a culture on risk cost-benefit analysis, which is said to be an approach based on risk assessment mainly in more societal domains. |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | The reference is related with the reference of article 9. Both the articles are said to be closely related but slightly differ from one another. |
STRENGTHS | The article discussed regarding the crisis and the issues that is mainly faced by the leaders. This is the strength because, in case of resolving the issues, firstly it is required to identify the issues. |
WEAKNESSES | The article did not have any proper solution for resolving the issues permanently. |
Article 7-Risk management for forestry planning under uncertainty in demand and prices.
REFERENCE | Alonso-Ayuso, A., Escudero, L. F., Guignard, M., & Weintraub, A. (2018). Risk management for forestry planning under uncertainty in demand and prices. European Journal of Operational Research, 267(3), 1051-1074. |
AIM/PURPOSE | The aim of this paper is to highlight the approaches of controlling the risks associated with the forest companies in regards to advanced planning for the value and price of timber. |
ARTICLE TYPE | Research |
METHOD (research papers only) | The research work had been developed under the availability of several methodologies, including an initiation of a tighter and improved deterministic model. The Stochastic counterpart was frowned upon the ideas from a set of representatives. Hence the research work can be considered as a holistic empirical approach towards the study. The methodology used has been both primary as well as secondary. The research had been conducted using 17 forest areas. |
APPROACH (non research papers) | It is a research article. |
FINDINGS | The research work is reflective of the feasible solution to the forestry risks in regards to the expected value of the stochastic parameters. It has been evident in the work that the importance of adopting control system in the initial stage is far more important than any other cures. The TCVaR and ECVaR was combined and made into MCVaR. The research work is beneficial in terms of addressing the potential financial risks expectedly to be faced by the forestry department. |
CONCLUSION (non research only) | N.A |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | This annotated reference share similarity with Article 3 in this assignment. In regards to both the assignments, the major focus is on the risks faced by the municipal corporation related to solid waste disposal and management. Both the articles are interconnected in the sense, they deal with environmental issues along with the potential financial risks. |
STRENGTHS | The article combines the different algorithms and steps that play crucial role in implementing risk control measures in lieu of broad computational experimentation and resilient rendition. The strengths of this research work centers around the impact of TCVaR , ECVaR and MCVaR and their supertiturty over the rational ECVaR policy. The respective strengths of each policy is explained in the research work. |
WEAKNESSES | The only weakness of the research work is that it could not be completed within a short time frame. Out of 17 forest areas selected, only one area could be covered and solved. |
Article 8-Decision making under uncertainty, therapeutic inertia, and physicians' risk preferences in the management of multiple sclerosis (DIScUTIR MS).
REFERENCE | Saposnik, G., Sempere, A. P., Raptis, R., Prefasi, D., Selchen, D., & Maurino, J. (2016). Decision making under uncertainty, therapeutic inertia, and physicians’ risk preferences in the management of multiple sclerosis (DIScUTIR MS). BMC neurology, 16(1), 58. |
AIM/PURPOSE | The aim of this study is to depict the multiple implications of schelorisis and effective ideas of disease modifying agents. The concept and importance of risk stratification was explained in the gourmet article and accordingly identify the medical solutions the major aim of this work was to whether overconfidence or tolerance to risk impact medical decisions. The impact of therapeutic inertia in the attention towards the management of Multiple sclerosis has also been described in the article. |
ARTICLE TYPE | Journal article |
METHOD | It is a journal article |
APPROACH | It follows an interpretivist approach. The information included in the study is based on varied derivatives and expreimmagtal inferences. Case history and references were selected to decipher the impact of the mentioned subject on the process of addressing MS. The approach has been selected on the basis of overconfidence and risk measurements in regards to Socio-Economic Panel Study (SOEP) in different domains. |
FINDINGS | Journal article |
CONCLUSION | Considering the conclusions, the study is innovative in approach by collaborating the tools to secure and evaluate medical decisions in regards to microeconomics and catering to Multiple Sclerosis. It further explains the role of cognitive factors including the issues of uncertainty on therapeutic interrati and medical decisions. |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | Though this article is entirely different from the other articles in this assignment, however, slight similarity can be drawn with article 10. According to content in article 10 content, the impact of strategic decisions maiming model is being explained. A strategic decision making is indirectly related to the cognitive factors of the human brain. |
STRENGTHS | The article is a self-explanatory one and is reflective of the impact of overconfidence and other cognitive factors in the decision making scenario for Multiple Sclerosis. The article is interpretivist and innovative in content as it includes a detailed description of the subject by deriving information from authentic sources. |
WEAKNESSES | The weakness for the study paper can be concluded as limited, since, it deals with only the problem of Multiple Sclerosis and risk stratification. At times it becomes complicated for MS experts and clinicians to gauge the specific concern of the study. The lack of evidence-based approaches have also slowed the process of decision making in medical science. |
Article 9- The Biographical Management of Risk and Uncertainty- British Veterans
REFERENCE | Blonigen, D. M., Bui, L., Elbogen, E. B., Blodgett, J. C., Maisel, N. C., Midboe, A. M., ... & Timko, C. (2016). Risk of recidivism among justice-involved veterans: a systematic review of the literature. Criminal justice policy review, 27(8), 812-837. |
AIM/PURPOSE | The main purpose of this article is to identify how the individuals in an organization deals with the uncertainties and the risks that are identified in an organization. Which is generally said to be an area that is ignored. |
ARTICLE TYPE | Journal article |
METHOD (research papers only) | This is not a research paper. |
APPROACH (non research papers) | The article mainly focused on the social and general changes and its impact on the behaviour of the individuals within an organization. |
FINDINGS (research only) | . This is not a research paper. |
CONCLUSION (non research only) | Drawing insights from the current article, it can be concluded that, There is a lack of understanding that how the individuals are involved in giving response to all the uncertainties and the risks that are faced within an organization. |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | The current article or the reference is related to article 6. Both the articles are closely related. |
STRENGTHS | The current article tends to identify the factors that engages the individuals in giving response to the uncertainties and the risks that they faces in an organization. |
WEAKNESSES | The article did not provide any proper solution to the uncertainties and the issues or risks that the individuals faces in the context of an organizational culture. |
Article 10- Decision-making under risk and uncertainty and its application in strategic management
REFERENCE | Merigó, J. M. (2015). Decision-making under risk and uncertainty and its application in strategic management. Journal of Business Economics and Management, 16(1), 93-116. |
AIM/PURPOSE | The major aim of this research paper is to introduce a new decision-making process model, which unifies the different risks as well as uncertain environments in the same kind of formulation. On the other hand the other aim of this research paper is to develop a brand new aggregation operator. |
ARTICLE TYPE | Journal article |
METHOD (research papers only) | It is a journal article |
APPROACH (non research papers) | In this journal article, the major approach of this article is to introduce or develop a new decision-making model, which unifies risk and uncertain environments in the same formulation. In order to do this formulation process, most of the organization presents the induced probabilistic ordered weighted averaging operator structure. It is an essential aggregation operator that unifies the probability with the OWA operator in order to do the same formulation or the same evaluation process of the risk management and considering the degree of importance of each concept in the aggregation. Case history as well as the references were selected to develop the decision making model in an appropriate way. |
FINDINGS (research only) | Journal article |
CONCLUSION (non research only) | Considering the conclusion, the study focuses on different decision-making model that can be implemented through this journal article. Different case history were selected to develop the decision making model. |
RELATIONSHIP TO OTHER ANNOTATED REFERENCES | Though this article it has been seen that this journal article is fully different from the other articles in this assignment, however, some similarities can be drawn with article 7 and 9. |
STRENGTHS | The article is a self-explanatory structure process and it is reflective of the impact of decision-making model that has been evaluated in this journal article. |
WEAKNESSES | The essential weakness is all the factors of decision-making model have not been elaborated properly. |
Conclusion
Thus, from this above research paper it can be concluded that in order to implement or evaluate the risk management process in risk effect as well as high stakes the organization should communicate with their stakeholders and the employees of the organization. Along with this, it also can be concluded that different approaches of controlling the risks can be highlighted in the research paper that are associated with different companies or organizations in regards to advance planning for the value of different risk management processes (Alonso-Ayuso et al. 2018). From this research article several process structure of the fire risk management processes can be known. In this research paper different risk management mitigation processes can be evaluated therefore it has been found that the different articles that have been founded among those one of the articles is related to assume the exact selections move toward to the fire risk management decision-making. Another fire insurance and fire safety services in the situation of the fire loss occurrence indecisively and that is associated with risk management-process structure (Merigó, 2015). Some articles also followed interpretive approach. In those articles, different information was included and this is based on varied derivatives and experimental inferences. The lacks of evidence-based approaches have also evaluated in the process of decision making in medical science.
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