Giving risk management culture a role in strategic planning

WOS: 000413939000023Strategically planned and implemented risk management paves the way for competitive advantage and a decisive edge for global financial institutions. The importance of risk management becomes more evident in financial instability periods. The failure of global financial institutions in the recent financial crisis revealed that firms with strong risk management and culture were more prepared and economically less damaged. As financial institutions have been criticized severely about risk management practices, it also becomes clear that most financial institutions have difficulties in developing a risk management culture. To have a clear understanding of risk management culture, the chapter aims to highlight a need to extend our understanding of risk management culture and how it can find a voice in the strategic planning of global financial institutions

The teaching–research gestalt: the development of a discipline-based scale

This paper reports the development and empirical testing of a model of the factors that influence the teaching–research nexus. No prior work has attempted to create a measurement model of the nexus. The conceptual model is derived from 19 propositions grouped into four sets of factors relating to: rewards, researchers, curriculum, and students. The propositions are operationalised by 61 scale-items and empirically recomposed by a factor analysis on data obtained from 247 UK accounting academics. We demonstrate that, in the discipline of accounting, there are six factors that describe the positive effects of relations between academic research and teaching. We also identify five factors that militate against productive relations between the two. This double-edged sword we term the teaching–research gestalt: although faculty research can be beneficial to teaching and vice versa, there can also be negative effects. The relationship between academic research and teaching therefore requires judicious management.<br/

Deciphering the sophomore slump: changes to student perceptions during the undergraduate journey

The second year of university is little-researched, despite being a focal point for declining performance, persistence, and satisfaction. It is important to establish appropriate methods for studying this ‘sophomore slump’ and to pinpoint specific antecedents from broad domains noted in literature (e.g. students’ social integration, perceptions of the curriculum). Using a novel methodology, 166 undergraduates were surveyed in successive years of study to derive a gold standard ‘within-subjects’ data sample. Under a replicated design, a ‘between-subjects’ sample of over 1000 students completed the same e-survey just once, in year one, two, or three. Quantitative comparison of the responses across years showed over 85% agreement between samples. This endorses between-subject approaches (i.e. simultaneously surveying students from different years) to facilitate rapid interventions that benefit students before they graduate. In terms of detailed findings, year two saw positive trends in students’ academic engagement (e.g. self-reported independent study time), social integration (e.g. feeling accepted, involvement in extra-curricular activities), and views on teaching staff (e.g. approachability). Although appraisals remained broadly favourable, there was, in contrast, significant deterioration in global perceptions of the learning atmosphere (e.g. course enjoyment), as well as specific elements of the teaching provision (e.g. contact hours, feedback). Notably, there appeared to be little progression in students’ academic self-perceptions (e.g. confidence to make presentations, enter class debates). Year two also saw increased thoughts of drop-out. These results highlight the unique character of the second year at university and indicate potential target areas for enhancing this phase of the undergraduate journey

Prehospital transdermal glyceryl trinitrate in patients with ultra-acute presumed stroke (RIGHT-2): an ambulance-based, randomised, sham-controlled, blinded, phase 3 trial

Background High blood pressure is common in acute stroke and is a predictor of poor outcome; however, large trials of lowering blood pressure have given variable results, and the management of high blood pressure in ultra-acute stroke remains unclear. We investigated whether transdermal glyceryl trinitrate (GTN; also known as nitroglycerin), a nitric oxide donor, might improve outcome when administered very early after stroke onset. Methods We did a multicentre, paramedic-delivered, ambulance-based, prospective, randomised, sham-controlled, blinded-endpoint, phase 3 trial in adults with presumed stroke within 4 h of onset, face-arm-speech-time score of 2 or 3, and systolic blood pressure 120 mm Hg or higher. Participants were randomly assigned (1:1) to receive transdermal GTN (5 mg once daily for 4 days; the GTN group) or a similar sham dressing (the sham group) in UK based ambulances by paramedics, with treatment continued in hospital. Paramedics were unmasked to treatment, whereas participants were masked. The primary outcome was the 7-level modified Rankin Scale (mRS; a measure of functional outcome) at 90 days, assessed by central telephone follow-up with masking to treatment. Analysis was hierarchical, first in participants with a confirmed stroke or transient ischaemic attack (cohort 1), and then in all participants who were randomly assigned (intention to treat, cohort 2) according to the statistical analysis plan. This trial is registered with ISRCTN, number ISRCTN26986053. Findings Between Oct 22, 2015, and May 23, 2018, 516 paramedics from eight UK ambulance services recruited 1149 participants (n=568 in the GTN group, n=581 in the sham group). The median time to randomisation was 71 min (IQR 45–116). 597 (52%) patients had ischaemic stroke, 145 (13%) had intracerebral haemorrhage, 109 (9%) had transient ischaemic attack, and 297 (26%) had a non-stroke mimic at the final diagnosis of the index event. In the GTN group, participants’ systolic blood pressure was lowered by 5·8 mm Hg compared with the sham group (p<0·0001), and diastolic blood pressure was lowered by 2·6 mm Hg (p=0·0026) at hospital admission. We found no difference in mRS between the groups in participants with a final diagnosis of stroke or transient ischaemic stroke (cohort 1): 3 (IQR 2–5; n=420) in the GTN group versus 3 (2–5; n=408) in the sham group, adjusted common odds ratio for poor outcome 1·25 (95% CI 0·97–1·60; p=0·083); we also found no difference in mRS between all patients (cohort 2: 3 [2–5]; n=544, in the GTN group vs 3 [2–5]; n=558, in the sham group; 1·04 [0·84–1·29]; p=0·69). We found no difference in secondary outcomes, death (treatment-related deaths: 36 in the GTN group vs 23 in the sham group [p=0·091]), or serious adverse events (188 in the GTN group vs 170 in the sham group [p=0·16]) between treatment groups. Interpretation Prehospital treatment with transdermal GTN does not seem to improve functional outcome in patients with presumed stroke. It is feasible for UK paramedics to obtain consent and treat patients with stroke in the ultraacute prehospital setting. Funding British Heart Foundation

Effects of fluoxetine on functional outcomes after acute stroke (FOCUS): a pragmatic, double-blind, randomised, controlled trial

Background Results of small trials indicate that fluoxetine might improve functional outcomes after stroke. The FOCUS trial aimed to provide a precise estimate of these effects. Methods FOCUS was a pragmatic, multicentre, parallel group, double-blind, randomised, placebo-controlled trial done at 103 hospitals in the UK. Patients were eligible if they were aged 18 years or older, had a clinical stroke diagnosis, were enrolled and randomly assigned between 2 days and 15 days after onset, and had focal neurological deficits. Patients were randomly allocated fluoxetine 20 mg or matching placebo orally once daily for 6 months via a web-based system by use of a minimisation algorithm. The primary outcome was functional status, measured with the modified Rankin Scale (mRS), at 6 months. Patients, carers, health-care staff, and the trial team were masked to treatment allocation. Functional status was assessed at 6 months and 12 months after randomisation. Patients were analysed according to their treatment allocation. This trial is registered with the ISRCTN registry, number ISRCTN83290762. Findings Between Sept 10, 2012, and March 31, 2017, 3127 patients were recruited. 1564 patients were allocated fluoxetine and 1563 allocated placebo. mRS data at 6 months were available for 1553 (99·3%) patients in each treatment group. The distribution across mRS categories at 6 months was similar in the fluoxetine and placebo groups (common odds ratio adjusted for minimisation variables 0·951 [95% CI 0·839–1·079]; p=0·439). Patients allocated fluoxetine were less likely than those allocated placebo to develop new depression by 6 months (210 [13·43%] patients vs 269 [17·21%]; difference 3·78% [95% CI 1·26–6·30]; p=0·0033), but they had more bone fractures (45 [2·88%] vs 23 [1·47%]; difference 1·41% [95% CI 0·38–2·43]; p=0·0070). There were no significant differences in any other event at 6 or 12 months. Interpretation Fluoxetine 20 mg given daily for 6 months after acute stroke does not seem to improve functional outcomes. Although the treatment reduced the occurrence of depression, it increased the frequency of bone fractures. These results do not support the routine use of fluoxetine either for the prevention of post-stroke depression or to promote recovery of function. Funding UK Stroke Association and NIHR Health Technology Assessment Programme

The impact of academics' learning and teaching preferences on their teaching practices: A pilot study

This study investigated factors underlying the approaches to teaching and the teaching strategies adopted by lecturers in four distinct academic disciplines. It examined the relationship between the way academic staff like to learn and the way they like to teach and the reasons they use the teaching strategies they adopt in lectures. It also examined the relationship between academics' perceptions of their teaching and their students' perceptions of their teaching and investigated the relationship between academics' perceptions of what students do in lectures and their students' reports of what they do in lectures. Results suggest little enthusiasm for lectures as a teaching or learning method, but few attempts by academics to depart from the traditional lecture method, even amongst those with a personal preference for learning in groups. Marked contrasts were found between lecturer and student reports of the teaching strategies used in lectures and lecturer and student reports of student activity in lectures

Kolb's learning style inventory (1985): Review and further study of validity and reliability

In this study the validity and reliability of the revised version of Kolb's (1985) Learning Style Inventory are investigated using the responses to the LSI2 of 187 Arts and Science students in an Australian university. Results indicate high internal consistency of the LSI2 scales and some evidence of validity. While, as predicted, four factors forming two bipolar dimensions were found for the Science subsample, for the Arts subsample Active Experimentation formed the anticipated bipolar dimension with Reflective Observation, but also with Concrete Experience and Abstract Conceptualisation. Higher mean scores for Arts students on Concrete Experience and for Science students on Active Experimentation conform to results obtained for the LSI1 (Kolb, 1976). Mean scores indicate no significant differences on the basis of gender, but students who completed the majority of their primary and secondary schooling in Asia scored higher means on Concrete Experience, which is possibly attributable to cultural influences upon learning styles

Valuing teaching: A strategy For changing the organisational culture of an academic department

Although government funding initiatives can provide an immediate incentive for the development of good teaching practices, ongoing and widespread improvement in the quality of teaching and learning is likely to occur only when the organisational culture of academic departments is such that good teaching is held in those departments to be a fundamental and shared value rather than primarily an individual responsibility. This paper describes the organisational development strategies used within one large academic department to bring about a reassessment of the role and practice of teaching and support the subsequent implementation of teaching‐related reforms. It examines the role of leadership, devolved responsibility and consultation in effecting change in both the practice of teaching and the organisational culture of a department

Developing teaching and changing organisational culture through grass-roots leadership

Much of the literature relating to organisational change within academic departments focusses upon the role of the academic leader in creating an appropriate environment and process for change. Often scant attention is paid to the role of other individuals in impeding or facilitating change. This paper provides a case study of teaching development and change based in considerations of organisational culture as conceptualised by Schein (1985). It details the strategies used by a small group of junior academics to challenge the existing organisational culture and, through a focus on teaching improvement, achieve personal reward, organisational growth and the creation of a new but complemtary organisational culture. From the case study is drawn a list of key factors of relevance to academics or staff developers interested in initiating or supporting a grass-roots movement for change

Negotiating the curriculum: Reflections on two learning experiences

With the expectation of ensuring greater learner autonomy and more effectively meeting the learning needs of both "students" and "teacher", participants in Murdoch University's 1996 and 1997 Tertiary Teaching Course were required to negotiate their own curriculum. In each year a different process was followed in negotiating the curriculum and in dealing with the curriculum that had been negotiated. This paper begins with a description of the rationale behind the decision to negotiate the curriculum. It then describes the curriculum development process used in 1996 and the lessons learnt from this. Finally, it presents from the perspective of the 1997 participants and of the Course facilitator, the issues and outcomes associated with the revised process of negotiation and delivery, and the lessons learnt from this process