Taming the Risk Hurricane

Taming the Risk Hurricane

by David Hillson
Released September 2022
Publisher(s): Berrett-Koehler Publishers
ISBN: 9781523000517

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Book description

A leading expert on risk management describes how to steer your company through a “risk hurricane”—the extreme risk exposure that can lead to major disruption for your business.

Risk management has become a standard part of the strategic tool kit, providing senior leaders with a forward-looking radar to scan the future and give early warnings of approaching threats and opportunities. However, even best-in-class organizations can falter in the face of extreme risk exposure. Special circumstances demand special responses, and extreme risk exposure needs very careful handling. Routine risk management approaches will fall short, but businesses that demonstrate a high degree of flexibility and resilience will have the competitive advantage and the ability to thrive where others fail.

The causes and consequences of meteorological hurricanes have parallels in the way uncontrolled risk exposure can develop in organizations. Both are caused largely by predictable factors, but both are characterized by sustained uncertainty and severe impact once they develop. If we can learn to predict a risk hurricane, prepare for it effectively, and survive its effects, then our organizations will be well placed to address the challenge of extreme risk exposure, if and when we are unfortunate enough to face it.

Table of contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Contents
  5. List of Figures and Tables
  6. Foreword
  7. Prologue
  8. Chapter 1 | Introducing the Risk Hurricane
    1. The Hurricane as Analogy
    2. Defining the Risk Hurricane
    3. Risk Basics
    4. Book Outline
    5. Terminology Footnote
  9. Chapter 2 | Preconditions
    1. Natural Hurricane Preconditions
    2. Risk Hurricane Preconditions
    3. External Environment
    4. Internal Environment
    5. Rate of Change
    6. Case Study: Global Financial Crisis (2007–2008)
    7. Closing Considerations
  10. Chapter 3 | Potency
    1. Categories of Natural Hurricane
    2. Categories of Risk Hurricane
    3. Using Categories
    4. Case Study: COVID-19 Pandemic
    5. Closing Considerations
  11. Chapter 4 | People
    1. People Involved in a Natural Hurricane
    2. People Involved in a Risk Hurricane
    3. Direct Impact—Within the Eye
    4. Direct Impact—At the Wall
    5. Direct Impact—Beyond the Wall
    6. Indirect Effect
    7. Professional Interest
    8. Case Study: Polly Peck International
    9. Closing Considerations
  12. Chapter 5 | Prediction
    1. Forecasting Natural Hurricanes
    2. Forecasting Risk Hurricanes
    3. Modeling Risk
    4. Communicating Risk
    5. Using Risk Information to Manage the Risk Hurricane
    6. Case Study: Climate Change Modeling
    7. Closing Considerations
  13. Chapter 6 | Preparedness
    1. Preparing for a Natural Hurricane
    2. Preparing for a Risk Hurricane
    3. Identify Vulnerabilities
    4. Plan Preparedness and Mitigation Actions
    5. Implement Actions
    6. Case Study: Preparing for Zero-Carbon Future
    7. Closing Considerations
  14. Chapter 7 | Post-Event Responses
    1. Recovering from a Natural Hurricane
    2. Recovering from a Risk Hurricane
    3. Damage Assessment
    4. Short-Term Repairs
    5. Longer-Term Rebuilding
    6. Learning Lessons for the Future
    7. Risk Leadership
    8. Case Study: Surviving 9/11
    9. Closing Considerations
  15. Chapter 8 | Practicalities
    1. Call to Action
  16. References and Further Reading
  17. Index
  18. About the Author

Product information

  • Title: Taming the Risk Hurricane
  • Author(s): David Hillson
  • Release date: September 2022
  • Publisher(s): Berrett-Koehler Publishers
  • ISBN: 9781523000517