Mastering Catastrophic Risk

Mastering Catastrophic Risk

Author: Howard Kunreuther

Publisher: Oxford University Press

Published: 2018-05-01

Total Pages: 256

ISBN-13: 0190499427

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A 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. 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?


Book Synopsis Mastering Catastrophic Risk by : Howard Kunreuther

Download or read book Mastering Catastrophic Risk written by Howard Kunreuther and published by Oxford University Press. This book was released on 2018-05-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A 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. 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?

Catastrophic Risk

Catastrophic Risk

Author: Kunreuther Et Al

Publisher:

Published: 2016

Total Pages:

ISBN-13: 9780190499433

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Book Synopsis Catastrophic Risk by : Kunreuther Et Al

Download or read book Catastrophic Risk written by Kunreuther Et Al and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mastering Catastrophic Risk

Mastering Catastrophic Risk

Author: Howard Kunreuther

Publisher: Oxford University Press

Published: 2018

Total Pages: 249

ISBN-13: 0190499400

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Risk taking is inherent in competition and managing risk well is a mark of successful firms. Doing so is increasingly challenging given the pace of change, whether financial, technological, environmental, reputational, or political. Rethinking Catastrophic Risk draws on extensive interviewswith risk managers to provide real-world insights and a framework for smart thinking and planning for possible disruptions, adverse events, or crises that could seriously harm the normal business functions or operations of a firm.Corporate leaders face a series of ever-more-challenging decisions to avoid and respond to perils that can be caused by external forces or by harmful actions within the firm. The business world is growing ever riskier given rapid changes generated by increasing concentration of populations andassets, complex interdependencies of markets and supply-chains, pressures of short-term demands for results, and the pressures of transparency combined with the prominence of social media. Some shocks can be anticipated, but many others come as a surprise and create considerable stress on decisionmakers, often leading to even worse outcomes.As leading authorities on risk management, decision processes, and leadership, Howard Kunreuther, Erwann Michel-Kerjan, and Michael Useem draw on their extensive experience to enhance understanding of risk management and call for improving resilience to future shocks as an integral part of corporatestrategy. This book is chock-full of anecdotes based on extensive interviews with leaders from all sectors of the Fortune 500 and provides a framework for linking intuitive and deliberative thinking for managing low-probability, high-consequence events. It highlights the importance of institutionalarrangements and leadership capability and will benefit managers at all levels and especially executives and directors seeking to reposition their firms to better anticipate and manage adverse events.


Book Synopsis Mastering Catastrophic Risk by : Howard Kunreuther

Download or read book Mastering Catastrophic Risk written by Howard Kunreuther and published by Oxford University Press. This book was released on 2018 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk taking is inherent in competition and managing risk well is a mark of successful firms. Doing so is increasingly challenging given the pace of change, whether financial, technological, environmental, reputational, or political. Rethinking Catastrophic Risk draws on extensive interviewswith risk managers to provide real-world insights and a framework for smart thinking and planning for possible disruptions, adverse events, or crises that could seriously harm the normal business functions or operations of a firm.Corporate leaders face a series of ever-more-challenging decisions to avoid and respond to perils that can be caused by external forces or by harmful actions within the firm. The business world is growing ever riskier given rapid changes generated by increasing concentration of populations andassets, complex interdependencies of markets and supply-chains, pressures of short-term demands for results, and the pressures of transparency combined with the prominence of social media. Some shocks can be anticipated, but many others come as a surprise and create considerable stress on decisionmakers, often leading to even worse outcomes.As leading authorities on risk management, decision processes, and leadership, Howard Kunreuther, Erwann Michel-Kerjan, and Michael Useem draw on their extensive experience to enhance understanding of risk management and call for improving resilience to future shocks as an integral part of corporatestrategy. This book is chock-full of anecdotes based on extensive interviews with leaders from all sectors of the Fortune 500 and provides a framework for linking intuitive and deliberative thinking for managing low-probability, high-consequence events. It highlights the importance of institutionalarrangements and leadership capability and will benefit managers at all levels and especially executives and directors seeking to reposition their firms to better anticipate and manage adverse events.

Global Catastrophic Risks

Global Catastrophic Risks

Author: Nick Bostrom

Publisher: Oxford University Press

Published: 2011-09-29

Total Pages: 577

ISBN-13: 0199606501

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A Global Catastrophic Risk is one that has the potential to inflict serious damage to human well-being on a global scale. This book focuses on such risks arising from natural catastrophes (Earth-based or beyond), nuclear war, terrorism, biological weapons, totalitarianism, advanced nanotechnology, artificial intelligence and social collapse.


Book Synopsis Global Catastrophic Risks by : Nick Bostrom

Download or read book Global Catastrophic Risks written by Nick Bostrom and published by Oxford University Press. This book was released on 2011-09-29 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Global Catastrophic Risk is one that has the potential to inflict serious damage to human well-being on a global scale. This book focuses on such risks arising from natural catastrophes (Earth-based or beyond), nuclear war, terrorism, biological weapons, totalitarianism, advanced nanotechnology, artificial intelligence and social collapse.

Catastrophic Risk

Catastrophic Risk

Author: Erik Banks

Publisher: John Wiley & Sons

Published: 2005-09-27

Total Pages: 190

ISBN-13: 0470015454

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Catastrophic risk is one of the most significant and challenging areas of corporate risk management. Analyze this risk for your company with Catastrophic Risk and make sure you have sufficient resources to absorb losses and avoid financial distress. The first comprehensive volume to address this topic from a financial perspective, this book is a guide to the worst financial risks threatening companies and industries today. Author Eric Banks begins with a consideration of ?catastrophe? and its mplications, looks at the state of actuarial and financial modelling of catastrophe risks, and discusses the creation of a risk management framework that will enable the efficient and secure management of exposure. Catastrophic Risk is essential reading if you're a corporate treasurer, CFO, or insurance/financial risk manager responsible for corporate risk management. Order your copy today.


Book Synopsis Catastrophic Risk by : Erik Banks

Download or read book Catastrophic Risk written by Erik Banks and published by John Wiley & Sons. This book was released on 2005-09-27 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Catastrophic risk is one of the most significant and challenging areas of corporate risk management. Analyze this risk for your company with Catastrophic Risk and make sure you have sufficient resources to absorb losses and avoid financial distress. The first comprehensive volume to address this topic from a financial perspective, this book is a guide to the worst financial risks threatening companies and industries today. Author Eric Banks begins with a consideration of ?catastrophe? and its mplications, looks at the state of actuarial and financial modelling of catastrophe risks, and discusses the creation of a risk management framework that will enable the efficient and secure management of exposure. Catastrophic Risk is essential reading if you're a corporate treasurer, CFO, or insurance/financial risk manager responsible for corporate risk management. Order your copy today.

Catastrophic Risk

Catastrophic Risk

Author: Richard L. Alfred

Publisher: CRC Press

Published: 2021-10-06

Total Pages: 267

ISBN-13: 1000434672

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Imagine that you are a corporate executive or small business owner in a midwestern city under water after weeks of extreme weather and drenching rainfall. Infrastructure has been damaged beyond repair, transportation arteries are closed, and your supply chain is broken. Families have been driven from homes, food and water are in short supply, and people are becoming unruly. Government agencies are not in a position to help. Declining revenue and partisan antipathy fueled by ideological differences have eroded confidence in government. The city is in total disrepair and unable to deliver desperately needed services. It is edging toward implosion and community leaders have turned to you for help. Catastrophe that would have been unthinkable in earlier times is a reality in a world coming out of pandemic and facing existential threats such as climate change, inequality and global conflict. Catastrophic Risk: Business Strategy for Managing Turbulence in a World at Risk challenges business to step up and assume a pivotal role with communities under stress due to prolonged exposure to risk. When powerful societal forces meet behavior that deters response to risk, the consequences of risk are exacerbated. The compounding effect of behavior on risk has opened an important role for business in mobilizing people and communities in times of crisis. It is a role that cannot be fulfilled, however, without purpose, strategy and plans sufficiently robust to overcome the threat of risk. To prosper in this environment, business will need to make a significant contribution to society as well as to deliver financial performance. For companies, this will mean involvement in community in ways that significantly depart from current practice. For leaders, it will mean new skills—contextual sensitivity, a greater understanding of behavioral dynamics, and enhanced capacity to relate to people on an emotive basis. This book is about the relationship between risk, societal forces and human behavior—a relationship informed by the sciences that is critically important for business. Its goal is two-fold: to bring catastrophic risk to the world of business and to further business engagement in service to the common good.


Book Synopsis Catastrophic Risk by : Richard L. Alfred

Download or read book Catastrophic Risk written by Richard L. Alfred and published by CRC Press. This book was released on 2021-10-06 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imagine that you are a corporate executive or small business owner in a midwestern city under water after weeks of extreme weather and drenching rainfall. Infrastructure has been damaged beyond repair, transportation arteries are closed, and your supply chain is broken. Families have been driven from homes, food and water are in short supply, and people are becoming unruly. Government agencies are not in a position to help. Declining revenue and partisan antipathy fueled by ideological differences have eroded confidence in government. The city is in total disrepair and unable to deliver desperately needed services. It is edging toward implosion and community leaders have turned to you for help. Catastrophe that would have been unthinkable in earlier times is a reality in a world coming out of pandemic and facing existential threats such as climate change, inequality and global conflict. Catastrophic Risk: Business Strategy for Managing Turbulence in a World at Risk challenges business to step up and assume a pivotal role with communities under stress due to prolonged exposure to risk. When powerful societal forces meet behavior that deters response to risk, the consequences of risk are exacerbated. The compounding effect of behavior on risk has opened an important role for business in mobilizing people and communities in times of crisis. It is a role that cannot be fulfilled, however, without purpose, strategy and plans sufficiently robust to overcome the threat of risk. To prosper in this environment, business will need to make a significant contribution to society as well as to deliver financial performance. For companies, this will mean involvement in community in ways that significantly depart from current practice. For leaders, it will mean new skills—contextual sensitivity, a greater understanding of behavioral dynamics, and enhanced capacity to relate to people on an emotive basis. This book is about the relationship between risk, societal forces and human behavior—a relationship informed by the sciences that is critically important for business. Its goal is two-fold: to bring catastrophic risk to the world of business and to further business engagement in service to the common good.

The Disaster Experts

The Disaster Experts

Author: Scott Gabriel Knowles

Publisher: University of Pennsylvania Press

Published: 2012-07-02

Total Pages: 362

ISBN-13: 0812207998

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In the wake of 9/11 and Hurricane Katrina, many are asking what, if anything, can be done to prevent large-scale disasters. How is it that we know more about the hazards of modern American life than ever before, yet the nation faces ever-increasing losses from such events? History shows that disasters are not simply random acts. Where is the logic in creating an elaborate set of fire codes for buildings, and then allowing structures like the Twin Towers—tall, impressive, and risky—to go up as design experiments? Why prepare for terrorist attacks above all else when floods, fires, and earthquakes pose far more consistent threats to American life and prosperity? The Disaster Experts takes on these questions, offering historical context for understanding who the experts are that influence these decisions, how they became powerful, and why they are only slightly closer today than a decade ago to protecting the public from disasters. Tracing the intertwined development of disaster expertise, public policy, and urbanization over the past century, historian Scott Gabriel Knowles tells the fascinating story of how this diverse collection of professionals—insurance inspectors, engineers, scientists, journalists, public officials, civil defense planners, and emergency managers—emerged as the authorities on risk and disaster and, in the process, shaped modern America.


Book Synopsis The Disaster Experts by : Scott Gabriel Knowles

Download or read book The Disaster Experts written by Scott Gabriel Knowles and published by University of Pennsylvania Press. This book was released on 2012-07-02 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of 9/11 and Hurricane Katrina, many are asking what, if anything, can be done to prevent large-scale disasters. How is it that we know more about the hazards of modern American life than ever before, yet the nation faces ever-increasing losses from such events? History shows that disasters are not simply random acts. Where is the logic in creating an elaborate set of fire codes for buildings, and then allowing structures like the Twin Towers—tall, impressive, and risky—to go up as design experiments? Why prepare for terrorist attacks above all else when floods, fires, and earthquakes pose far more consistent threats to American life and prosperity? The Disaster Experts takes on these questions, offering historical context for understanding who the experts are that influence these decisions, how they became powerful, and why they are only slightly closer today than a decade ago to protecting the public from disasters. Tracing the intertwined development of disaster expertise, public policy, and urbanization over the past century, historian Scott Gabriel Knowles tells the fascinating story of how this diverse collection of professionals—insurance inspectors, engineers, scientists, journalists, public officials, civil defense planners, and emergency managers—emerged as the authorities on risk and disaster and, in the process, shaped modern America.

Quantifying and Controlling Catastrophic Risks

Quantifying and Controlling Catastrophic Risks

Author: B. John Garrick

Publisher: Academic Press

Published: 2008-10-27

Total Pages: 374

ISBN-13: 0080923453

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The perception, assessment and management of risk are increasingly important core principles for determining the development of both policy and strategic responses to civil and environmental catastrophes. Whereas these principles were once confined to some areas of activity i.e. financial and insurance, they are now widely used in civil and environmental engineering. Comprehensive and readable, Civil and Environmental Risk: Mitigation and Control, provides readers with the mathematical tools and quantitative methods for determining the probability of a catastrophic event and mitigating and controlling the aftermath. With this book engineers develop the required skills for accurately assessing risk and formulating appropriate response strategies. The two part treatment starts with a clear and rigorous exposition of the quantitative risk assessment process, followed by self-contained chapters concerning applications. One of the first books to address both natural and human generated disasters, topics include events such as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents and terrorist attacks. Case studies appear at the end of the book allowing engineers to see how these principles are applied to scenarios such as a super hurricane or mega tsunamis, a reactor core melt down in a nuclear plant, a terrorist attack on the national electric grid, and an abrupt climate change brought about by a change in the ocean currents in the North Atlantic. Written by the current Chairman of the U.S. Nuclear Waste Technical Review Board, Environmental risk managers will find this reference a valuable and authoritative guide both in accurately calculating risk and its applications in their work. Mathematical tools for calculating and Controlling Catastrophic Risk Presents a systematic method for ranking the importance of societal threats Includes both Natural and Industrial Catastrophes Case studies cover such events as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents, and terrorist attacks


Book Synopsis Quantifying and Controlling Catastrophic Risks by : B. John Garrick

Download or read book Quantifying and Controlling Catastrophic Risks written by B. John Garrick and published by Academic Press. This book was released on 2008-10-27 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: The perception, assessment and management of risk are increasingly important core principles for determining the development of both policy and strategic responses to civil and environmental catastrophes. Whereas these principles were once confined to some areas of activity i.e. financial and insurance, they are now widely used in civil and environmental engineering. Comprehensive and readable, Civil and Environmental Risk: Mitigation and Control, provides readers with the mathematical tools and quantitative methods for determining the probability of a catastrophic event and mitigating and controlling the aftermath. With this book engineers develop the required skills for accurately assessing risk and formulating appropriate response strategies. The two part treatment starts with a clear and rigorous exposition of the quantitative risk assessment process, followed by self-contained chapters concerning applications. One of the first books to address both natural and human generated disasters, topics include events such as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents and terrorist attacks. Case studies appear at the end of the book allowing engineers to see how these principles are applied to scenarios such as a super hurricane or mega tsunamis, a reactor core melt down in a nuclear plant, a terrorist attack on the national electric grid, and an abrupt climate change brought about by a change in the ocean currents in the North Atlantic. Written by the current Chairman of the U.S. Nuclear Waste Technical Review Board, Environmental risk managers will find this reference a valuable and authoritative guide both in accurately calculating risk and its applications in their work. Mathematical tools for calculating and Controlling Catastrophic Risk Presents a systematic method for ranking the importance of societal threats Includes both Natural and Industrial Catastrophes Case studies cover such events as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents, and terrorist attacks

Global Catastrophic Risks

Global Catastrophic Risks

Author: Nick Bostrom

Publisher: OUP Oxford

Published: 2008-07-04

Total Pages: 576

ISBN-13: 0191547131

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A global catastrophic risk is one with the potential to wreak death and destruction on a global scale. In human history, wars and plagues have done so on more than one occasion, and misguided ideologies and totalitarian regimes have darkened an entire era or a region. Advances in technology are adding dangers of a new kind. It could happen again. In Global Catastrophic Risks 25 leading experts look at the gravest risks facing humanity in the 21st century, including asteroid impacts, gamma-ray bursts, Earth-based natural catastrophes, nuclear war, terrorism, global warming, biological weapons, totalitarianism, advanced nanotechnology, general artificial intelligence, and social collapse. The book also addresses over-arching issues - policy responses and methods for predicting and managing catastrophes. This is invaluable reading for anyone interested in the big issues of our time; for students focusing on science, society, technology, and public policy; and for academics, policy-makers, and professionals working in these acutely important fields.


Book Synopsis Global Catastrophic Risks by : Nick Bostrom

Download or read book Global Catastrophic Risks written by Nick Bostrom and published by OUP Oxford. This book was released on 2008-07-04 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: A global catastrophic risk is one with the potential to wreak death and destruction on a global scale. In human history, wars and plagues have done so on more than one occasion, and misguided ideologies and totalitarian regimes have darkened an entire era or a region. Advances in technology are adding dangers of a new kind. It could happen again. In Global Catastrophic Risks 25 leading experts look at the gravest risks facing humanity in the 21st century, including asteroid impacts, gamma-ray bursts, Earth-based natural catastrophes, nuclear war, terrorism, global warming, biological weapons, totalitarianism, advanced nanotechnology, general artificial intelligence, and social collapse. The book also addresses over-arching issues - policy responses and methods for predicting and managing catastrophes. This is invaluable reading for anyone interested in the big issues of our time; for students focusing on science, society, technology, and public policy; and for academics, policy-makers, and professionals working in these acutely important fields.

Catastrophe

Catastrophe

Author: Richard A. Posner

Publisher: Oxford University Press

Published: 2004-11-11

Total Pages: 334

ISBN-13: 0195178130

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In this shocking work, Posner reveals to an unsuspecting public that catastrophic risks are much greater than is commonly appreciated.


Book Synopsis Catastrophe by : Richard A. Posner

Download or read book Catastrophe written by Richard A. Posner and published by Oxford University Press. This book was released on 2004-11-11 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this shocking work, Posner reveals to an unsuspecting public that catastrophic risks are much greater than is commonly appreciated.