Policymakers are continually facing new challenges that are exacerbated by the lack of dedicated analysis of how macroeconomic changes affect particular industries. One of the most current examples of this is the effect that Brexit will have on the British construction industry. This paper addresses the issue by deploying a new risk-based approach that utilizes the triangulation concept across risk impact, risk manageability, and the combination of those two factors. The novelty of this framework lies in the use of Fuzzy Theory to appraise the effect of a significant phenomenon when confronted with the absence of quantitative data. The research methodology adopts Fuzzy Sets Theory to assess the effect of Brexit upon the Human Resources, Currency, Trade, Funding, and Sovereignty areas of the industry to illustrate their vulnerability to time, cost, and reputation impacts. This novel approach overcomes biases by adopting Fuzzy set theory in assessing risks, and by focusing on the manageability of these risks in their external and internal environments, as opposed to the likelihood of risk occurrence. The research indicatively concluded that the areas most susceptible to Brexit are Human Resources and Currency, followed by Trade.
Britain and the World is a book series of 'British world' history. The editors invite book proposals from historians of all ranks on the ways in which Britain has interacted with other societies since the seventeenth century. The series is sponsored by the Britain and the World society.Britain and the World is made up of people from around the world who share a common interest in Britain, its history, and its impact on the wider world. The society serves to link the various intellectual communities around the world that study Britain and its international influence from the seventeenth century to the present. It explores the impact of Britain on the world through this book series, an annual conference, and the Britain and the World Journal with Edinburgh University Press.
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