IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v63y2010i4p337-346.html
   My bibliography  Save this article

Unmastered risks: From crisis to catastrophe: An economic and management insight

Author

Listed:
  • Schenker-Wicki, Andrea
  • Inauen, Matthias
  • Olivares, Maria

Abstract

In contrast to sociology, economics, and above all, business economics has not yet discovered disaster management as a research topic even though this subject affects many areas of economics due to its interdisciplinary character. The enormous economic losses suffered by private parties, businesses and public institutions in crisis events, the huge amounts of money which are spent in disaster prevention, as well as the challenges that providing emergency management and disaster control present, contain many issues and have an increasing social and economic relevance. This article takes a close look at the concept of disaster from an economic and management point of view to mitigate the impact on human beings and environment. Based on the rational choice approach the study analyzes the state of preparedness that is mainly responsible for good or poor disaster prevention and presents a theoretical framework for a comprehensive disaster management including examples of practical applications. The conclusion outlines several important areas of future research in business economics.

Suggested Citation

  • Schenker-Wicki, Andrea & Inauen, Matthias & Olivares, Maria, 2010. "Unmastered risks: From crisis to catastrophe: An economic and management insight," Journal of Business Research, Elsevier, vol. 63(4), pages 337-346, April.
    • Handle: RePEc:eee:jbrese:v:63:y:2010:i:4:p:337-346
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148-2963(09)00126-X
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ana Maria Cruz & Laura J. Steinberg & Ana Lisa Vetere-Arellano, 2006. "Emerging Issues for Natech Disaster Risk Management in Europe," Journal of Risk Research, Taylor & Francis Journals, vol. 9(5), pages 483-501, July.
    2. Pollner, John D, 2001. "Catastrophe risk management : using alternative risk financing and insurance pooling mechanisms," Policy Research Working Paper Series 2560, The World Bank.
    3. Altay, Nezih & Green III, Walter G., 2006. "OR/MS research in disaster operations management," European Journal of Operational Research, Elsevier, vol. 175(1), pages 475-493, November.
    4. Dan Henstra & Gordon McBean, 2005. "Canadian Disaster Management Policy: Moving Toward a Paradigm Shift?," Canadian Public Policy, University of Toronto Press, vol. 31(3), pages 303-318, September.
    5. Stefan Greiving & Mark Fleischhauer & Sylvia Wanczura, 2006. "Management of natural hazards in Europe: The role of spatial planning in selected EU member states," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 49(5), pages 739-757.
    6. Alton Y.K. Chua & Selcan Kaynak & Schubert S.B. Foo, 2007. "An analysis of the delayed response to Hurricane Katrina through the lens of knowledge management," Journal of the American Society for Information Science and Technology, Association for Information Science & Technology, vol. 58(3), pages 391-403, February.
    7. Alton Y.K. Chua, 2007. "A tale of two hurricanes: Comparing Katrina and Rita through a knowledge management perspective," Journal of the American Society for Information Science and Technology, Association for Information Science & Technology, vol. 58(10), pages 1518-1528, August.
    8. David Godschalk & Samuel Brody & Raymond Burby, 2003. "Public Participation in Natural Hazard Mitigation Policy Formation: Challenges for Comprehensive Planning," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 46(5), pages 733-754.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marcus Selart & Svein Johansen & Synnøve Nesse, 2013. "Employee Reactions to Leader-Initiated Crisis Preparation: Core Dimensions," Journal of Business Ethics, Springer, vol. 116(1), pages 99-106, August.
    2. Matevž Rašković & Maja Makovec Brenčič & Barbara Moerec, 2011. "Trust and management-to-employee communication in Slovenian companies: Some evidence from the current economic crisis," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 23(2), pages 165-187.
    3. Liu, Chuanlan & Black, William C. & Lawrence, Frances C. & Garrison, M.E. Betsy, 2012. "Post-disaster coping and recovery: The role of perceived changes in the retail facilities," Journal of Business Research, Elsevier, vol. 65(5), pages 641-647.
    4. Yusen Ye & Wen Jiao & Hong Yan, 2020. "Managing Relief Inventories Responding to Natural Disasters: Gaps Between Practice and Literature," Production and Operations Management, Production and Operations Management Society, vol. 29(4), pages 807-832, April.
    5. Pantano, Eleonora & Pizzi, Gabriele & Scarpi, Daniele & Dennis, Charles, 2020. "Competing during a pandemic? Retailers’ ups and downs during the COVID-19 outbreak," Journal of Business Research, Elsevier, vol. 116(C), pages 209-213.
    6. Garg, Amit & Mishra, Vimal & Dholakia, Hem H., 2015. "Climate Change and India: Adaptation GAP (2015)," IIMA Working Papers WP2015-11-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    7. Garg, Amit & Naswa, Prakriti & Shukla, P.R., 2015. "Energy infrastructure in India: Profile and risks under climate change," Energy Policy, Elsevier, vol. 81(C), pages 226-238.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jingxian Chen & Liang Liang & Dong-Qing Yao, 2017. "Pre-positioning of relief inventories for non-profit organizations: a newsvendor approach," Annals of Operations Research, Springer, vol. 259(1), pages 35-63, December.
    2. Shibly Shahrier & Koji Kotani, 2016. "Labor Donation Or Money Donation? Pro-Sociality On Prevention Of Natural Disasters In A Case Of Cyclone Aila, Bangladesh," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(01), pages 1-26, March.
    3. Cailin Wang & Jidong Wu & Xin He & Mengqi Ye & Wenhui Liu & Rumei Tang, 2018. "Emerging Trends and New Developments in Disaster Research after the 2008 Wenchuan Earthquake," IJERPH, MDPI, vol. 16(1), pages 1-19, December.
    4. Fattahi, Mohammad & Keyvanshokooh, Esmaeil & Kannan, Devika & Govindan, Kannan, 2023. "Resource planning strategies for healthcare systems during a pandemic," European Journal of Operational Research, Elsevier, vol. 304(1), pages 192-206.
    5. Rameshwar Dubey & Nezih Altay & Constantin Blome, 2019. "Swift trust and commitment: The missing links for humanitarian supply chain coordination?," Annals of Operations Research, Springer, vol. 283(1), pages 159-177, December.
    6. Kaddour Mehiriz & Pierre Gosselin, 2016. "Municipalities' Preparedness for Weather Hazards and Response to Weather Warnings," PLOS ONE, Public Library of Science, vol. 11(9), pages 1-17, September.
    7. A. Anaya-Arenas & J. Renaud & A. Ruiz, 2014. "Relief distribution networks: a systematic review," Annals of Operations Research, Springer, vol. 223(1), pages 53-79, December.
    8. Firas Rifai, 2018. "Transfer of Knowhow and Experiences from Commercial Logistics into Humanitarian Logistics to Improve Rescue Missions in Disaster Areas," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 8(3), pages 1-63, August.
    9. Mohammad Mojtahedi & Sidney Newton & Jason Meding, 2017. "Predicting the resilience of transport infrastructure to a natural disaster using Cox’s proportional hazards regression model," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 85(2), pages 1119-1133, January.
    10. Nagarajan, Magesh & Shaw, Duncan & Albores, Pavel, 2012. "Disseminating a warning message to evacuate: A simulation study of the behaviour of neighbours," European Journal of Operational Research, Elsevier, vol. 220(3), pages 810-819.
    11. Dilsu Binnaz Ozkapici & Mustafa Alp Ertem & Haluk Aygüneş, 2016. "Intermodal humanitarian logistics model based on maritime transportation in Istanbul," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 83(1), pages 345-364, August.
    12. Preece, Gary & Shaw, Duncan & Hayashi, Haruo, 2013. "Using the Viable System Model (VSM) to structure information processing complexity in disaster response," European Journal of Operational Research, Elsevier, vol. 224(1), pages 209-218.
    13. Dennis Fok & André Stel & Andrew Burke & Roy Thurik, 2019. "How entry crowds and grows markets: the gradual disaster management view of market dynamics in the retail industry," Annals of Operations Research, Springer, vol. 283(1), pages 1111-1138, December.
    14. Aparna Kumari & Tim G. Frazier, 2021. "Evaluating social capital in emergency and disaster management and hazards plans," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 109(1), pages 949-973, October.
    15. Araya-Córdova, P.J. & Vásquez, Óscar C., 2018. "The disaster emergency unit scheduling problem to control wildfires," International Journal of Production Economics, Elsevier, vol. 200(C), pages 311-317.
    16. Halicki Marcin & Kwater Tadeusz, 2021. "Simulation experiments of supply chain in a period of small and big disasters," Journal of Economics and Management, Sciendo, vol. 43(1), pages 339-356, May.
    17. Berger, Niklas & Schulze-Schwering, Stefan & Long, Elisa & Spinler, Stefan, 2023. "Risk management of supply chain disruptions: An epidemic modeling approach," European Journal of Operational Research, Elsevier, vol. 304(3), pages 1036-1051.
    18. Lu, Chung-Cheng & Ying, Kuo-Ching & Chen, Hui-Ju, 2016. "Real-time relief distribution in the aftermath of disasters – A rolling horizon approach," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 93(C), pages 1-20.
    19. Holguín-Veras, José & Taniguchi, Eiichi & Jaller, Miguel & Aros-Vera, Felipe & Ferreira, Frederico & Thompson, Russell G., 2014. "The Tohoku disasters: Chief lessons concerning the post disaster humanitarian logistics response and policy implications," Transportation Research Part A: Policy and Practice, Elsevier, vol. 69(C), pages 86-104.
    20. Wilson, Duncan T. & Hawe, Glenn I. & Coates, Graham & Crouch, Roger S., 2013. "A multi-objective combinatorial model of casualty processing in major incident response," European Journal of Operational Research, Elsevier, vol. 230(3), pages 643-655.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:63:y:2010:i:4:p:337-346. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.