As a learning theory, the continuous improvement (CI) discourse has benefited countless manufacturing enterprises to improve and adapt their methods of production. As one of the pillars of total quality management, it has generally included a range of dynamic concepts from high involvement...

Extreme value theory (EVT) is regularly put forward by academics, practitioners and banking regulators as a methodology for measuring the likelihood of operational risk losses that have a very low probability of occurrence, but which have the potential for catastrophic outcomes in terms of...