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OverviewA profound and insightful look at how company leaders prepare for and respond to shocks and crises that threaten their business.Successful firms strategically manage and are more accurate in their assessment of large-scale risks. Doing so is increasingly challenging given the pace of change, whether financial, technological, regulatory, or environmental. Mastering Catastrophic Risk provides real-world practical insights into how large companies are responding to this new reality and develops a framework for smarter thinking about events that can damage a business.As leading authorities on risk management, strategy, and company leadership, Howard Kunreuther and Michael Useem take us on a groundbreaking tour of firms' decision making process. They demonstrate how improving readiness for and resilience against future shocks is now an integral part of company strategy. Using the ""DISRUPT"" model they have developed, they highlight the seven primary Drivers of disruption: Interdependencies increase exposure; Short-term focus results in limited vision; Regulations require change and constrain opportunities; Urbanization increases the costs of disasters; Probabilities of disasters have increased; and Transparency has enhanced public awareness of problems and impacts on firms' reputations. This updated paperback edition includes a new preface to address threats to business that have emerged or intensified in the past two years including existential threats like the coronavirus, self-inflicted calamities like the Wells Fargo customer account scandal, and natural disasters like the West Coast wildfires and hurricanes on the Atlantic.Some disruptions can be anticipated, while others arrive without warning. Their onset stresses decision makers, impairs company operations, and may even put the enterprise at risk. The bottom-line: business leaders and their governing boards face ever more challenging disruptions and must be ever more on guard. If your company is hit tomorrow, will it bounce back, or drown? Full Product DetailsAuthor: Howard Kunreuther , Michael UseemPublisher: Oxford University Press Inc Imprint: Oxford University Press Inc Dimensions: Width: 23.10cm , Height: 1.80cm , Length: 15.50cm Weight: 0.363kg ISBN: 9780197549131ISBN 10: 0197549136 Pages: 264 Publication Date: 24 February 2021 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of ContentsPrologue: On a Sunny Day Part I. A More Risky Era Chapter 1 Risk on the Agenda Chapter 2 Impact of Severe Events Part II. Enterprise Decisions for Managing Disruptions Chapter 3 From Intuitive to Deliberative Thinking Chapter 4 The Risk Analysis Cycle Chapter 5 Risk Management Praxis Part III. What Disrupted Companies Do Chapter 6 Crisis at Lufthansa and Deutsche Bank Chapter 7 From Reactive to Proactive Boardroom Chapter 8 Corporate Giving for Disaster Relief Part IV. Reaching Vital Stakeholders Chapter 9 Disclosing Threats Chapter 10 A Two-Edged Sword Chapter 11 Safeguarding Value Chapter 12 Managing Disruptions and a Checklist for Action Epilogue: On a Rainy Day Appendices About the Authors Acknowledgments ReferencesReviewsThis interesting book uses interviews and case studies from the business world to identify 21 categories of risk faced by publicly traded companies and to draw useful lessons about how to prepare for them. - Richard N. Cooper, Foreign Affairs Mastering Catastrophic Risk is a timely and indispensable guide for corporate boards and executives contemplating an increasing variety of high consequence risks. Globalization, financial concentration, climate change, and political volatility have heightened the intensity and range of potential disruptions that may impact enterprises. This volume crisply lays out a disciplined and practical set of approaches for identifying and preparing for high impact enterprise risks. * Michael Chertoff, Former United States Secretary of Homeland Security * Author InformationHoward Kunreuther is the James G. Dinan Professor Emreitus of Decision Sciences and Public Policy and Co-Director of the Center for Risk Management and Decision Processes at The Wharton School, University of Pennsylvania. Michael Useem is the William and Jaclyn Egan Professor of Management and Director of the Center for Leadership and Change Management at The Wharton School, University of Pennsylvania. Tab Content 6Author Website:Countries AvailableAll regions |
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