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The notion that asset diversification reduces risk is ancient and can be traced as far back as the Talmud which states, “A man should always keep his wealth in three forms: one-third in real estate, another in merchandise, and the remainder in liquid assets” (Baba Metzia, verse 42a). Somewhat more recently, in 1738, Daniel Bernoulli observed, “it is advisable to divide goods which are exposed to some small danger into several small portions rather than to risk them all together” (1738/1954, p. 30). Arguably, however, it was not until 1935 that the future Nobel laureate J. R. Hicks offered some early direction for modern portfolio theory. Although his research was more concerned with explaining the demand for money, he points out two important considerations for modeling risk. Hicks writes, “The risk factor comes into our problem in two ways: First, as affecting the expected period of investment, and second, as affecting the expected net yield of investment” (Hicks, 1935, p. 7). Regarding Hicks' first point, both Markowitz (1952) and Roy (1952) emplace their analyses in a one-period investment horizon. Second, and even more relevant to modern portfolio theory, is Hicks' suggestion of using an expected value calculated with subjective probabilities. Hicks continues, “It is convenient to represent these probabilities to oneself, in statistical fashion, by a mean value, and some measure of dispersion” (1935, p. 8). Clearly, Hicks comes very close to articulating a mean–variance solution. Crucially, and unlike Roy or Markowitz, Hicks does not develop this line of reasoning nor does he suggest the particular use of variance or standard deviation as that measure of risk. Nonetheless, Hicks' suggestion anticipates the work of Markowitz and Roy.¹

This qualitative phenomenological study examined the experiences of patients, their family members, and the nurses in the intensive care unit during critical illness. Five participants from each category participated in two interviews over a period of five months. Content analysis of the interview transcripts revealed five integrating common themes, each reflecting concepts from the Roy Adaptation Model (RAM). The ICU experience among all participants is interdependence. Adaptation in the ICU integrated family as a unit, physical care/comfort, physiological care and psychosocial support, resulting in transformation.

The purpose of this paper is to address various works on mixed convection and proposes 10 unified models (Models 1–10) based on various thermal and kinematic conditions of the boundary walls, thermal conditions and/ or kinematics of objects embedded in the cavities and kinematics of external flow field through the ventilation ports. Experimental works on mixed convection have also been addressed.

This review is based on 10 unified models on mixed convection within cavities. Models 1–5 involve mixed convection based on the movement of single or double walls subjected to various temperature boundary conditions. Model 6 elucidates mixed convection due to the movement of single or double walls of cavities containing discrete heaters at the stationary wall(s). Model 7A focuses mixed convection based on the movement of wall(s) for cavities containing stationary solid obstacles (hot or cold or adiabatic) whereas Model 7B elucidates mixed convection based on the rotation of solid cylinders (hot or conductive or adiabatic) within the cavities enclosed by stationary or moving wall(s). Model 8 is based on mixed convection due to the flow of air through ventilation ports of cavities (with or without adiabatic baffles) subjected to hot and adiabatic walls. Models 9 and 10 elucidate mixed convection due to flow of air through ventilation ports of cavities involving discrete heaters and/or solid obstacles (conductive or hot) at various locations within cavities.

Mixed convection plays an important role for various processes based on convection pattern and heat transfer rate. An important dimensionless number, Richardson number (Ri) identifies various convection regimes (forced, mixed and natural convection). Generalized models also depict the role of “aiding” and “opposing” flow and combination of both on mixed convection processes. Aiding flow (interaction of buoyancy and inertial forces in the same direction) may result in the augmentation of the heat transfer rate whereas opposing flow (interaction of buoyancy and inertial forces in the opposite directions) may result in decrease of the heat transfer rate. Works involving fluid media, porous media and nanofluids (with magnetohydrodynamics) have been highlighted. Various numerical and experimental works on mixed convection have been elucidated. Flow and thermal maps associated with the heat transfer rate for a few representative cases of unified models [Models 1–10] have been elucidated involving specific dimensionless numbers.

This review paper will provide guidelines for optimal design/operation involving mixed convection processing applications.

Some studies show that improvisation is a source of change, whereas others show that it is a source of stability. The purpose of this paper is to specify the factors which set the boundary between improvised change and improvised stability.

The paper draws on two published studies and contrasts their findings to analyze the extent to which improvisation leads to organizational change or organizational stability.

The paper suggests that the most innovative instances of improvisation reproduce some features of everyday experience. The extent to which an improvisation is a source of stability or a source of change depends on the dynamics of variation, selection and retention therein.

Future research needs to add empirical flesh to this theoretical skeleton to push research on organizational improvisation beyond the study of its causes and into further research on its consequences.

The paper deals with the paradox of making sense about two apparently opposing streams of research on improvisation.

This study aims to determine the export price pass-through elasticity, specifically for Indian exports. It employs static and dynamic panel data techniques to estimate these elasticities. Notably, the pass-through effect is more significant in the long term compared to the short term. The dynamic panel analysis, considering broader economic factors, identifies trade openness and global demand as statistically significant in explaining export price variations. Additionally, the study reveals that the response of export prices to exchange rate changes depends on the nature of those changes, with depreciation having a lesser impact than appreciation. Furthermore, this chapter emphasizes the importance of analyzing these effects at the product level for a comprehensive understanding of the underlying mechanisms. The implications of these findings underscore the crucial role of exchange rates as a policy tool for promoting exports and economic growth, as well as their potential in reducing current account deficits.

Identifying and prioritizing supply chain risk is significant from any product’s quality and reliability perspective. Under an input-process-output workflow, conventional risk prioritization uses a risk priority number (RPN) aligned to the risk analysis. Imprecise information coupled with a lack of dealing with hesitancy margins enlarges the scope, leading to improper assessment of risks. This significantly affects monitoring quality and performance. Against the backdrop, a methodology that identifies and prioritizes the operational supply chain risk factors signifies better risk assessment.

The study proposes a multi-criteria model for risk prioritization involving multiple decision-makers (DMs). The methodology offers a robust, hybrid system based on the Intuitionistic Fuzzy (IF) Set merged with the “Technique for Order Performance by Similarity to Ideal Solution.” The nature of the model is robust. The same is shown by applying fuzzy concepts under multi-criteria decision-making (MCDM) to prioritize the identified business risks for better assessment.

The proposed IF Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS) for risk prioritization model can improve the decisions within organizations that make up the chains, thus guaranteeing a “better quality in risk management.” Establishing an efficient representation of uncertain information related to traditional failure mode and effects analysis (FMEA) treatment involving multiple DMs means identifying potential risks in advance and providing better supply chain control.

In a company’s supply chain, blockchain allows data storage and transparent transmission of flows with traceability, privacy, security and transparency (Roy et al., 2022). They asserted that blockchain technology has great potential for traceability. Since risk assessment in supply chain operations can be treated as a traceability problem, further research is needed to use blockchain technologies. Lastly, issues like risk will be better assessed if predicted well; further research demands the suitability of applying predictive analysis on risk.

The study proposes a hybrid framework based on the generic risk assessment and MCDM methodologies under a fuzzy environment system. By this, the authors try to address the supply chain risk assessment and mitigation framework better than the conventional one. To the best of their knowledge, no study is found in existing literature attempting to explore the efficacy of the proposed hybrid approach over the traditional RPN system in prime sectors like steel (with production planning data). The validation experiment indicates the effectiveness of the results obtained from the proposed IF TOPSIS Approach to Risk Prioritization methodology is more practical and resembles the actual scenario compared to those obtained using the traditional RPN system (Kim et al., 2018; Kumar et al., 2018).

This study provides mathematical models to simulate the supply chain risk assessment, thus helping the manufacturer rank the risk level. In the end, the authors apply this model in a big-sized organization to validate its accuracy. The authors validate the proposed approach to an integrated steel plant impacting the production planning process. The model’s outcome substantially adds value to the current risk assessment and prioritization, significantly affecting better risk management quality.

The objective of this study is to develop a theoretical structure of sporting event personality and to build a measuring scale for that personality. This study identifies five sporting event personality dimensions: diligence, uninhibitedness, fit, tradition and amusement. The findings show that these personality dimensions are related to attitudes towards sporting events, which in turn lead to positive sponsorship evaluation and favourable evaluation of the sponsoring brands.

This research aims to examine football fans' awareness of their team sponsors and to compare sponsorship awareness between season ticket holders and casual spectators. Data was collected from among fans of a professional football team and results revealed that spectators recall 'top of mind' those sponsors with their logo displayed on the team shirts. Thus, being visible from the stadium stands is important to ensure recall rates. Fans are typically able to properly recognise sponsors and non-sponsors of their team. However, some competitor brands engaged in football sponsorship are incorrectly recognised as sponsors of a team. Finally, the number of brands recalled and recognised correctly by season ticket holders is significantly higher than for casual spectators. The research findings, managerial implications, limitations and future research directions are discussed.

A prolific stream of research has demonstrated the unique potential of sports sponsorship to contribute to corporate image and to influence audiences around the world. Meanwhile, the concept of corporate social responsibility (CSR) has increasingly been identified in the literature for its potential to deliver a degree of competitive advantage. This paper builds on both these theoretical fields to develop a conceptual framework linking the effectiveness of sports sponsorship with the sponsors' CSR commitment to both employees and consumers.

This study aims to carry out numerical modeling to predict aerodynamic noise radiation from four different Savonius rotor blade profile.

Incompressible unsteady reynolds-averaged navier-stokes (URANS) approach using gamma–theta turbulence model is conducted to obtain the time accurate turbulent flow field. The Ffowcs Williams and Hawkings (FW-H) acoustic analogy formulation is used for noise predictions at optimal tip speed ratio (TSR).

The mean torque and power coefficients are compared with the experimental data and acceptable agreement is observed. The total and Mono+Dipole noise graphs are presented. A discrete tonal component at low frequencies in all graphs is attributed to the blade passing frequency at the given TSR. According to the noise prediction results, Bach type rotor has the lowest level of noise emission. The effect of TSR on the noise level from the Bach rotor is investigated. A direct relation between angular velocity and the noise emission is found.

The savonius rotor is a type of vertical axis wind turbines suited for mounting in the vicinity of residential areas. Also, wind turbines wherein operation are efficient sources of tonal and broadband noises and affect the inhabitable environment adversely. Therefore, the acoustic pollution assessment is essential for the installation of wind turbines in residential areas.

This study aims to investigate the radiated noise level of four common Savonius rotor blade profiles, namely, Bach type, Benesh type, semi-elliptic and conventional. As stated above, numbers of studies exploit the URANS method coupled with the FW-H analogy to predict the aeroacoustics behavior of wind turbines. Therefore, this approach is chosen in this research to deal with the aeroacoustics and aerodynamic calculation of the flow field around the aforementioned Savonius blade profiles. The effect of optimal TSR on the emitted noise and the contribution of thickness, loading and quadrupole sources are of interest in this study.