Learning from Catastrophes: Strategies for Reaction and Response

by Howard Kunreuther, Michael Useem (Editor)

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 Catastrophe shows them exactly what to do about it.

Genres: Business

332 pages, Hardcover

First published January 1, 2009

Reviews

[E · Rating 5 out of 5]

Learned report on risk assessment and strategic planning for catastrophes

In terms of insurance payouts, two-thirds of the 25 most expensive disasters in the last 40 years have taken place since 2001. As the global climate changes and more people move to overbuilt and hence more vulnerable cities, the pace of cataclysmic “extreme events” is liable to increase. From the costs related to Iceland’s volcano to the impact of the catastrophic oil spill in the Gulf of Mexico, far too many organizations already face extreme problems. Authors and editors Howard Kunreuther and Michael Useem, both Wharton School professors, join 20 other experts to examine risk assessment and management. Although their book is made up of scholarly essays, getAbstract finds it pertinent and useful. Leaders can apply the directives in this intelligent, informative, thought-provoking volume to develop strategic planning for major catastrophes.

[Leader Summaries · Rating 5 out of 5]

Desde Leader Summaries recomendamos la lectura del libro Aprender de las catástrofes, de Michael Useem y Howard Kunreuther.
Las personas interesadas en las siguientes temáticas lo encontrarán práctico y útil: liderazgo, anticiparse a los problemas.
En el siguiente enlace tienes el resumen del libro Aprender de las catástrofes, Cómo anticiparse a acontecimientos poco probables pero de enormes consecuencias: Aprender de las catástrofes

[Jennifer · Rating 5 out of 5]

The book is collection of studies in risk management edited by two professors from The Wharton School at the University of Pennsylvania. It is a welcome addition to the risk literature and tells us that globally we must strive to be more prepared to deal with disasters, both predictable and of the "black swan" variety.

[Breanna · Rating 5 out of 5]

I learned a lot from this book. I believe it is a must-read for anyone in the field of emergency, whether it be fire fighters, emergency managers, and even some other, yet not so involved, officials.