Designing Innovative Quick Response Codes-Based Product Authenticity Safeguards: Risk Analysis
Designing Innovative Quick Response Codes-Based Product Authenticity Safeguards: Risk Analysis

Summary/Abstract: This paper examines the potential risks that may occur when designing and implementing innovative products’ authenticity safeguards based on quick response (QR) codes. The study identified ten key risks, which were then analyzed in two dimensions: the probability of their occurrence and the strength of their impact, should they occur. Using the matrix-based method, risks were visualized on an intensity scale in both dimensions and with adequate color notation. Subsequently, the identified risks were grouped thematically. This enabled the identification of four key areas containing the identified risks, namely: competition, external websites, technological integration and risks dependent on internal factors. After aggregating individual risk levels, for each key area the average risk level was calculated. The first three areas were characterized by an average low level of risk, while the area related to risks dependent on internal factors was characterized by an average medium level of risk. The study’s systematic approach to identify and evaluate risks related to the execution of QR code-based authenticity safeguards project can be applied by businesses to similar projects, as it enables scientific-based risk identification and management, and consideration of strategies to mitigate the potential issues, ensuring smoother project execution and more reliable product performance.

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