Learning from Catastrophes: Strategies for Reaction and Response

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.


NEWS & OPINION: The Best Business Books of 2010 from strategy + business

Posted November 24, 2010, 10:28 PM with category of Publishing Industry
strategy + business's "best of" list is always a special treat—in large part because it's never just a list, but a series of essays. The magazine gathers together a different team of experts each year, and each takes the task of writing on their chosen category and the books in it. I've listed their picks below, linking to the essays at the head of each category. Read more

NEWS & OPINION: Being Prepared: It's not only for Boy Scouts

Posted January 25, 2010, 6:04 AM with category of Management & Workplace Culture
In light of the earthquakes in Haiti, Learning from Catastrophes: Strategies for Reaction and Response, the new book edited by Howard Kunreuther and Michael Useem and published by Wharton School Publishing, has even more relevance. The authors, both chairpersons of the Council on the Mitigation of Natural Disasters, have gathered the writings of the world’s leading experts in risk management and disaster recovery to help council people and organizations on how best to predict, prepare and respond to natural and man-made disasters, from the devastation caused by earthquakes and tsunamis to the overwhelming challenges presented by terrorism and economic upheaval. In their introduction, the editors call these “low-probability but high-consequence events” and caution against the human tendency to dismiss preparation efforts due to “underprediction” or, more clearly, the belief that low risk equals no risk. Read more


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About the Hardcover

Publisher Wharton School Publishing
Publish date 11/01/2009
Pages 332
ISBN-13 9780137044856
Language English