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Time to Rethink Risk Management:Surviving Future Global Crises

Author

Listed:
  • Tony Bendell

    (Services Limited, UK & The Anti-Fragility Academy, UK)

Abstract

The purpose of this book is to change thinking about crises and risk. Risk management is today both a great success, an impressive achievement, and a notable failure. It works, and it doesn't work. It saves lives and property, and it fails to save lives and property. It helps and it hinders. Like all such management approaches, this has a lot to do with how it is employed and practiced, but in the case of risk management there is also a much more fundamental issue. The risk management framework, the risk management model, is wrong. Many organisations today treat all risks as point events, when the real risks involve systemic threats inherent in the global economy, and the uncertain nature of global society.

Suggested Citation

  • Tony Bendell, 2023. "Time to Rethink Risk Management:Surviving Future Global Crises," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 13090, January.
    • Handle: RePEc:wsi:wsbook:13090
    as

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    More about this item

    Keywords

    Global Crises; Enterprise Risk Management; ERM; Organisational Survival; Risk; Risk Management; Business Continuity Management; Crisis Management; Black Swan; Grey Rhino; Global Trends; VUCA; COVID-19; New Normal; Antifragile; Expectation Influenced Probability; Exponential Growth; Logistic Growth; Financial Crisis; Soft Systems; Systems Thinking; Resilience; Robustness; Business Continuity; Emergency Management; Chief Risk Officer; Risk Manager; Business Continuity Manager; Risk Avoidance; Risk Mitigation; Risk Register; COSO; World Health Organization; WHO; Corporate Culture; Governance; The Board; ISO 31000; Role of Government; White Swan; Grey Swan; Precautionary Principles; 0Dragon King; PD CEN/TS 17091; State of Threat; Pandemic; Intelligence Cycle; R Number; PD ISO/TS 22330; PD ISO/TS 22318; ISO 22313; ISO 22316; ISO 22320; ISO 22395; ISO 22319; BS 67000; Emergency Response; Abu Dhabi Police; BLUEBELLA; Nottingham City Council; EFQM; ISO 9001; Process Model; 7S Model; Deloitte's Layer Model; Change Curve;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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