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1 – 10 of 195Christopher Amoah and Hlatshwayo Nkosazana
Contract risk management has become a critical mission, as contract issues may lead to a loss of vast amounts of money to parties involved or cause project failure. This study…
Abstract
Purpose
Contract risk management has become a critical mission, as contract issues may lead to a loss of vast amounts of money to parties involved or cause project failure. This study sought to identify effective management strategies to mitigate construction contract issues that might emerge during construction.
Design/methodology/approach
A quantitative research approach was adopted for the study. Structured questionnaires made up of close-ended questions were distributed to construction professionals in South Africa via the SurveyMonkey platform. The data were then analysed using descriptive statistics.
Findings
The findings indicate that the critical sources of contract-related disputes are ambiguous definitions of the contract parties' scope of their rights and obligations, lack of precise arrangements regarding the calculation of contractual penalties for failure to meet the deadline, lack of detailed specification of the works and specific milestones, lack of provisions regulating changes to the project documentation during the construction stage, an excessive amount of contractual penalties on contractor's side and lack of provisions regarding the rules of performing additional and replacement works and their settlement. However, for these disputes to be effectively managed, strategies such as reduction uncertainties in project's phases, setting up contingency plans, construction guarantee, extension of time claims, payment guarantee, retention and escalation clause should be implemented by the parties involved.
Research limitations/implications
Even though the empirical study focused on construction professionals in South Africa, the findings could be applied to other countries outside of South Africa.
Practical implications
To effectively manage and prevent contract disputes from averting project failures and losses to parties involved in the contract, construction professionals need to be aware of strategies that must be implemented before and during the project execution. If well implemented, these strategies will help a construction project be successful and experience fewer contractual disputes.
Originality/value
The study has identified the knowledge gap concerning suitable contract risk management strategies available for implementation to effectively prevent any contract parties from losing money, time and project failure.
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This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration…
Abstract
Purpose
This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration in investment disputes: A. Multilateral legal framework. B. Bilateral legal framework/Investment promotion and protection agreementsTypes of arbitration in investment disputes. The Egyptian experience in investment disputes arbitration. The National legal framework. Egypt on the map of investment disputes in the world. A case study. Conclusion: Results related to the legal framework regulating investment disputes in Egypt. Results related to The arbitration cases against Egypt.
Design/methodology/approach
The researcher investigates the subject of international arbitration in investment disputes in the framework of voluntary theory, which is based on the premise that the satisfaction of people who are addressing the international legal norm is the basis of the same rule. In other words, the basis of international law is based on the satisfaction of the State and other international legal persons Both, and then express or implied consent.
Findings
Despite the availability of domestic and regional arbitration mechanisms in Egypt represented by a large number of cases.
Research limitations/implications
The theme for the study primarily on Egypt and the international arbitration of investment disputes, through theoretical and practical study of disputes arbitration which Egypt is a party defendant in which to focus on what was issued in which the provisions of the International Center for Settlement of Investment Disputes, in an attempt to find out the reasons for the verdicts image released it, where it came mostly against Egypt, and whether these judgments against them in investment disputes due to reasons related to the legal framework of the arbitration process, or for reasons of bodies of arbitration issued by those provisions, or to the defense, which represents the Egyptian party, or to the circumstances Economic and political (which represents the investment climate).
Originality/value
The proposed solutions to improve the conditions and factors surrounding the arbitration disputes that Egypt is waging against foreign investors, whether they are initially alleged or accused of drafting agreements and contracts, through amending the relevant legislation and laws, selecting arbitration bodies and defense bodies.
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Saeed Awadh Bin-Nashwan, M. Kabir Hassan and Aishath Muneeza
While the world is yet to fully recuperate from the social and economic repercussions of COVID-19, the Russia–Ukraine conflict poses another major threat causing a humanitarian…
Abstract
Purpose
While the world is yet to fully recuperate from the social and economic repercussions of COVID-19, the Russia–Ukraine conflict poses another major threat causing a humanitarian crisis and economic shock. Although the 2030 Agenda for Sustainable Development Goals (SDGs) and its pledge to “leave no one behind” is a universal commitment to protect the livelihoods of vulnerable groups, the Russia–Ukraine ongoing conflict is causing immense suffering and a gloomy future for the 2030 Agenda. The purpose of this study is to provide a holistic understanding of the ramifications of the Russia–Ukraine war in SDGs progress around the world. Further, the authors shed light on how stakeholders can help engage in support of SDGs in such a challenging time.
Design/methodology/approach
This study is qualitative in nature and relies on secondary sources. The motive behind this study is to allow social and economic policy researchers and practitioners to learn from the Russia–Ukraine dispute. The authors conduct a preliminary factual analysis to determine patterns of how the conflict affects the SDGs Agenda. On this basis, the authors propose some recommendations.
Findings
While it is still early to measure the full impact of the war on crises worldwide, it is clear that the repercussions will be multi-dimensional. The authors argue that the conflict in Ukraine is severely threatening the achievement of the SDGs. As such, the authors identify patterns of this crisis that have halted progress on SDGs worldwide. Of all SDGs, the authors argue that SDG16 (i.e. peace and justice) is an absolute pre-requisite to sustaining other goals. Further, refugees should be economically empowered, resilient and sustainable food systems need to be put in place and renewable energy transition is required.
Research limitations/implications
This study serves as a springboard for future research by identifying patterns of war crises that have halted progress in achieving sustainable development worldwide. Empirical evidence needs to be conducted on the impact of this ongoing conflict on sustainable development and the 2030 Agenda.
Practical implications
This study could provide guidance to leaders and stakeholders across the globe on patterns for the impact of the Ukraine–Russia conflict on undermining global sustainable development while highlighting the need for major additional efforts to achieve the relevant SDGs.
Originality/value
To the best of the authors’ knowledge, this study is the first to analyse the threats the Russia–Ukraine dispute presents to the achievement of the 2030 Agenda for SDGs.
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This study aims to provide the main contents of the revision of the 2023 OECD Guidelines for Multinational Enterprises and suggest implications for the Korean government and…
Abstract
Purpose
This study aims to provide the main contents of the revision of the 2023 OECD Guidelines for Multinational Enterprises and suggest implications for the Korean government and multinational enterprises.
Design/methodology/approach
Following the brief history of the revision of OECD Guidelines for Multinational Enterprises, this study reviews and evaluates major substantive and procedural revisions of the 2023 OECD Guidelines, and then suggests countermeasures for Korean government and businesses.
Findings
The most significant substantive change of the 2023 revision is that expectations for environmental due diligence and disclosure obligations, including climate change and biodiversity, for multinational enterprises have been expanded and strengthened. Regarding procedural changes, the biggest change is the introduction of a basis rule for the National Contact Points for Responsible Business Conduct (NCPs for RBC) to judge each issue and a rule that the final statement must include follow-up details and deadlines, which is expected to strengthen the effectiveness of the NCP dispute resolution mechanism.
Originality/value
This study is the first academic paper to introduce major substantive and procedural revisions to the 2023 OECD Guidelines for Multinational Enterprises in Korea. This study also provides implications for the Korean government and companies following the 2023 revised OECD Guidelines for Multinational Enterprises as follows. First, the Korean government must establish a public–private partnership to closely communicate to prevent Korean companies from being harmed by failing to meet strengthening international Environment, Social and Governance (ESG) standards. In addition, Korean government should actively participate in ESG-related international forums, including the OECD, and strive to reflect the needs and interests of Korean companies. Second, the Korean NCP should strengthen its activities to prevent potential damage by expanding education and promotions for Korean businesses on related overseas legislative trends and NCP dispute case studies so that Korean companies can effectively deal with the strengthened ESG standards. Third, Korean multinational enterprises should preemptively establish an advanced ESG management system to seize new opportunities in the global supply chain previously concentrated in China and India in the process of reorganizing global supply chains according to the trend of strengthening ESG standards and the US value alliance strategy.
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Kim Janssens, Cees J. Gelderman and Jordy Petersen
The main purpose of this research is exploring the tipping points for a radical shift in supplier (dis)satisfaction. This study identifies triggers and links them to consequences…
Abstract
Purpose
The main purpose of this research is exploring the tipping points for a radical shift in supplier (dis)satisfaction. This study identifies triggers and links them to consequences for the buyer–supplier relationship.
Design/methodology/approach
The Critical Incident Technique (CIT) was used to interview Dutch supplier representatives in the infrastructure sector, resulting in rich descriptions of 29 critical incidents, extracting first-hand information.
Findings
Safety issues, technical disputes and recruitment of supplier’s technical staff have been identified as tipping points for suppliers to become dissatisfied. Implementing performance-based contracting is another critical incident that caused irritation and disappointment. On a more operational level, dissatisfaction was provoked by tender errors and price discussions with the buyer. This study also identified tipping points by which dissatisfied suppliers abruptly turned into satisfied suppliers. The effect of a solution-oriented buyer intervention appears to be most powerful if this behaviour transcends prior expectations.
Practical implications
Consequences of misunderstandings and discussion between supplier and buyer may be manageable or repairable, depending on the causes and triggers that influenced a supplier’s dissatisfaction. An early warning system could prove its worth, so that buyers are not faced with unpleasant surprises.
Originality/value
Despite the growing number of studies, processes of how antecedents lead to supplier (dis)satisfaction are not well understood. Antecedents are predominantly investigated by cross-sectional survey data, giving little insights into micro-processes and actual interaction between buyers and suppliers. Although CIT has been applied in many disciplines, the technique is hardly used within the context of purchasing and supply management research.
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Can Huang, Cong Cao and Wim Coreynen
Since 2015, China has made efforts to reform its intellectual property rights (IPR) system to better protect and stimulate innovation. These reforms are a result of the demand for…
Abstract
Purpose
Since 2015, China has made efforts to reform its intellectual property rights (IPR) system to better protect and stimulate innovation. These reforms are a result of the demand for more stringent intellectual property (IP) protection from China’s domestic, innovative industries and a measure to ease the pressure exerted by its foreign trading partners, particularly against the background of the US-China trade dispute that started at the beginning of 2018. This paper summarizes these reforms and their implications.
Design/methodology/approach
This paper combines a variety of sources, including academic articles, government websites, news reports, industry surveys and expert opinions, to offer insights in China’s IPR system and its recent reforms.
Findings
This paper summarizes and discusses (1) the state’s law amendments, including the 2015 amendment of the “Law on Promoting the Transformation of Scientific and Technological Achievements”, the second amendment of the “Anti-Unfair Competition Law” with regard to trade secret protection, the fourth amendment of the “Patent Law”, and the legislations and regulations addressing the criticisms of the US administration over China’s so-called “forced” technology transfer policies; (2) the establishment of the specialized IP courts and tribunals since 2014; (3) the restructuring of the State IP Office; and (4) the issuing of an “Outline for Building an IPR Powerhouse (2021–2035)”.
Originality/value
This paper highlights China’s efforts to make its IPR system stronger and more just. It also discusses international observers’ reactions and pinpoints specific areas for further improvement.
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Ornella Tanga Tambwe, Clinton Ohis Aigbavboa and Opeoluwa Akinradewo
Data represents a critical resource that enables construction companies’ success; thus, its management is very important. The purpose of this study is to assess the benefits of…
Abstract
Purpose
Data represents a critical resource that enables construction companies’ success; thus, its management is very important. The purpose of this study is to assess the benefits of construction data risks management (DRM) in the construction industry (CI).
Design/methodology/approach
This study adopted a quantitative method and collected data from various South African construction professionals with the aid of an e-questionnaire. These professionals involve electrical engineers, quantity surveyors, architects and mechanical, as well as civil engineers involved under a firm, or organisation within the province of Gauteng, South Africa. Standard deviation, mean item score, non-parametric Kruskal–Wallis H test and exploratory factor analysis were used to analyse the retrieved data.
Findings
The findings revealed that DRM enhances project and company data availability, promotes confidentiality and enhances integrity, which are the primary benefits of DRM that enable the success of project delivery.
Research limitations/implications
The research was carried out only in the province of Gauteng due to COVID-19 travel limitations.
Practical implications
The construction companies will have their data permanently in their possession and no interruption will be seen due to data unavailability, which, in turn, will allow long-term and overall pleasant project outcomes.
Originality/value
This study seeks to address the benefits of DRM in the CI to give additional knowledge on risk management within the built environment to promote success in every project.
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Farooq Ali and Harri Haapasalo
This article aims to address the confusion related to the meanings of interorganisational cooperation, control, coordination and collaboration in collaborative projects by…
Abstract
Purpose
This article aims to address the confusion related to the meanings of interorganisational cooperation, control, coordination and collaboration in collaborative projects by developing a conceptual framework. From this, the authors aim to describe the links among these concepts in terms of development levels of stakeholder relationships. In addition, the authors aim to identify challenges and preconditions in relation to developing relationships at different levels.
Design/methodology/approach
The authors have adopted the directed approach of qualitative content analysis method to validate and extend the conceptual framework of this study. The context of this study is a large hospital construction project located in northern Finland.
Findings
The findings of this study suggest that collaboration is a multilevel process of active engagement of multiple stakeholders. These stakeholders must have a high degree of shared understanding in terms of cooperation, control and coordination to achieve the mutually desired outcomes. This study also identifies the challenges that project stakeholders could face in developing collaborative relationships and propose preconditions for the same.
Practical implications
This study provides a better understanding for project managers to manage interorganisational collaborative construction projects successfully. The outcome of this research would be beneficial to project management team to deliver dispute-free construction projects.
Originality/value
Existing practical research on the development of relationships at different levels in collaborative construction projects is limited. This study offers a framework for the same which is validated in a real-life project.
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This study aims to examine the nexus of the US rebalance strategy to Asia and the US–China rivalry in the South China Sea (SCS) from the perspective of the offensive realism…
Abstract
Purpose
This study aims to examine the nexus of the US rebalance strategy to Asia and the US–China rivalry in the South China Sea (SCS) from the perspective of the offensive realism theory.
Design/methodology/approach
The study depends on the descriptive approach that deals with the analysis and description of the phenomenon. Also, the study uses the qualitative method to analyze the primary sources concerning the rebalance.
Findings
The study has found four results: first, the rebalance strategy to Asia is a comprehensive strategy to contain China’s rise. Second, China’s offensive strategy in the SCS since 2008 has been the main driver of launching the rebalance. Third, offensive realism presents a convenient analysis to understand the rebalance, China’s offensive strategy in the SCS, and the US–China rivalry in the SCS. Forth, SCS is one of the most important venues of the US–China rivalry for global hegemony.
Research limitations/implications
Limited to the period from 2009 to 2016. The Obama Era.
Originality/value
This study highlights the centrality of the SCS in the US–China global rivalry that has not been yet well researched.
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Family constitutions are relatively new to the law of family companies, although there might have been forerunners in the history of entrepreneur families. The practical…
Abstract
Family constitutions are relatively new to the law of family companies, although there might have been forerunners in the history of entrepreneur families. The practical importance and the proliferation of family constitutions in German family companies are increasing, along with the discussion of family constitutions in legal literature. This new instrument of family governance is not law driven but business driven, it has been designed by business advisors. Its analysis and classification are still at the very beginning in academic research and practice. Even though family constitutions are generally deemed to be without any legal effect and not legally binding, from a legal point of view, this assumption is at least highly questionable.
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