Mastering Catastrophic Risk: How Companies Are Coping with Disruption [Paperback]

Mastering Catastrophic Riskis a profound and insightful look at how company leaders prepare for and respond to shocks and crises that threaten their businesses' operations, reputations, and even existence. This updated paperback edition includes a new preface to address threats to business that have emerged or intensified in the past two years including COVID-19.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 Riskprovides 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 primaryDrivers 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; andTransparency 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-inflictel“%