Learning from Catastrophes: Strategies for Reaction and Response - Hardcover

Kunreuther, Howard; Useem, Michael

Hardcover

ISBN 10: 0137044852 ISBN 13: 9780137044856

Publisher: Financial Times/ Prentice Hall, 2009

Synopsis

Events ranging from Hurricane Katrina to the global economic crisis have taught businesspeople an unforgettable lesson: if you don’t plan for “extreme risk,” you endanger your organization’s very survival. But how can you plan for events that go far beyond anything that occurs in normal day-to-day business? In Learning from Catastrophes, two renowned experts present the first comprehensive strategic framework for assessing, responding to, and managing extreme risk. Howard Kunreuther and Michael Useem build on their own breakthrough work on mitigating natural disasters, extending it to the challenges faced by real-world enterprises.

Along with the contributions of leading experts in risk management, heuristics, and disaster recovery, they identify the behavioral biases and faulty heuristics that mislead decision makers about the likelihood of catastrophe. They go on to identify the hidden links associated with extreme risks, and present techniques for systematically building greater resilience into the organization.  The global best-seller The Black Swan told executives that “once in a lifetime” events are far more common and dangerous than they ever realized. Learning from Catastropheshows them exactly what to do about it.

About this title

About the Author

Howard Kunreuther is the Cecilia Yen Koo Professor of Decision Sciences and Public Policy at the Wharton School, and Co-Director of the Wharton Risk Management and Decision Processes Center. He has a longstanding interest in ways that society can better manage low-probability, high-consequence events related to technological and natural hazards. He is a member of the OECD’s High Level Advisory Board on Financial Management of Large-Scale Catastrophes, a fellow of the American Association for the Advancement of Science (AAAS) and distinguished fellow of the Society for Risk Analysis, receiving the Society’s Distinguished Achievement Award in 2001. He is the recipient of the Elizur Wright Award for the publication that makes the most significant contribution to the literature of insurance.

 

Michael Useem is William and Jacalyn Egan Professor of Management and Director of the Center for Leadership and Change Management at the Wharton School, University of Pennsylvania. He is author of numerous books, including The Go Point, The Leadership Moment, and Investor Capitalism. He has presented programs and seminars on leadership and governance with corporations, government agencies, and non-profit organizations worldwide and has consulted on organizational development and change with the U.S. Agency for International Development, U.N. Food and Agriculture Organization, and companies and other organizations in Latin America, Asia, and Africa.

 

From the Back Cover

Breakthrough Best Practices for Managing Extreme Risks–Both Natural and Man-Made 

• How to prepare for risks ranging from financial crises and climate change to pandemics and terrorism
• Indispensable information for leaders and strategists in business, the public sector, and nonprofit organizations alike
• Draws on leading-edge research from The Wharton School and top risk management experts worldwide 

Hurricanes. Earthquakes. Pandemics. Global economic crises. Terrorism. Whether natural or man-made, massive catastrophes happen far more often than decision-makers once imagined. Organizations must prepare for these events–but how?

 

In Learning from Catastrophes, the world’s leading experts in extreme risk management present innovative approaches to mitigation, preparedness, and response. They show how to dramatically improve forecasting and communication about high-consequence risks, use economic incentives to improve resilience and sustainability, and proactively implement operational steps for rapid, effective response to disaster.

 

In today’s increasingly unstable, uncertain world, preparing for extreme risk has never been more urgent. Whether you’re a leader in the private, public, or nonprofit sector, this book presents the principles and strategies you’ll need.

 

Edition details

• Publisher: Financial Times/ Prentice Hall
• Publication date: 2009
• Language: English
• ISBN 10: 0137044852
• ISBN 13: 9780137044856
• Binding: Hardcover
• Edition number: 1
• Number of pages: 352