Global Risk Management

The rise and spread of Covid-19 in the beginning of 2020 presents a once-in-a-century challenge and opportunity for decision makers, managers, scholars, and citizens to understand the risks, mitigate its impact and prepare for future crises. Drawing on a global network of scholars, this book presents a comparative analysis of ten nations’ response to a global pandemic, while operating nominally under the framework of the World Health Organization. The book introduces the concept of ‘collective cognition’ as an analytic lens for examining the nations’ response to Covid-19 during the first six months of the emerging pandemic (January – June 2020) and draws out insights for improving systems of global risk management. This book addresses four primary audiences: policy-makers and leaders in nations struggling to contain viruses while guiding their societies under threat; academic researchers, students, and educators engaged in preparing the next generation of professionals committed to investigating emerging risk: managers of non-profit and private organizations that operate and maintain the networks of social, technical, and economic services that are essential to functioning communities; and the informed general public interested in understanding this extraordinary sequence of events and in managing the novel risk of COVID-19 in a more informed, responsible way.

The establishment of the International Risk Governance Council (IRGC) was the direct result of widespread concern that the complexity and interdependence of health, environmental, and technological risks facing the world was making the development and implementation of adequate risk governance strategies ever more difficult. This volume details the IRGC developed and proposed framework for risk governance and covers how it was peer reviewed as well as tested

Contains articles presented at a conference which was held on April 20, 2001 at the Fox School under the auspices of the Institute of Global Management Studies (IGMS) and the Advanta Center for Financial Services Studies, as the Second Annual International Business Forum sponsored by the IGMS.

In Global Risk Agility and Decision Making, Daniel Wagner and Dante Disparte, two leading authorities in global risk management, make a compelling case for the need to bring traditional approaches to risk management and decision making into the twenty-first century. Based on their own deep and multi-faceted experience in risk management across numerous firms in dozens of countries, the authors call for a greater sense of urgency from corporate boards, decision makers, line managers, policymakers, and risk practitioners to address and resolve the plethora of challenges facing today’s private and public sector organizations. Set against the era of manmade risk, where transnational terrorism, cyber risk, and climate change are making traditional risk models increasingly obsolete, they argue that remaining passively on the side-lines of the global economy is dangerous, and that understanding and actively engaging the world is central to achieving risk agility. Their definition of risk agility taps into the survival and risk-taking instincts of the entrepreneur while establishing an organizational imperative focused on collective survival. The agile risk manager is part sociologist, anthropologist, psychologist, and quant. Risk agility implies not treating risk as a cost of doing business, but as a catalyst for growth. Wagner and Disparte bring the concept of risk agility to life through a series of case studies that cut across industries, countries and the public and private sectors. The rich, real-world examples underscore how once mighty organizations can be brought to their knees—and even their demise by simple miscalculations or a failure to just do the right thing. The reader is offered deep insights into specific risk domains that are shaping our world, including terrorism, cyber risk, climate change, and economic resource nationalism, as well as a frame of reference from which to think about risk management and decision making in our increasingly complicated world. This easily digestible book will shed new light on the often complex discipline of risk management. Readers will learn how risk management is being transformed from a business prevention function to a values-based framework for thriving in increasingly perilous times. From tackling governance structures and the tone at the top to advocating for greater transparency and adherence to value systems, this book will establish a new generation of risk leader, with clarion voices calling for greater risk agility. The rise of agile decision makers coincides with greater resilience and responsiveness in the era of manmade risk.

Risk management is a foundation discipline for the prudent conduct of investment management. Being effective requires ongoing evolution and adaptation. In The World of Risk Management, an expert team of contributors addresses the important issues arising in the practice of risk management. A common thread among these distinguished articles is a rigorous theoretical or conceptual basis as well as their practical significance. The topics include not only broad policy considerations but also detailed how-to prescriptions.

In the past 30 years, more companies have begun to develop sourcing and purchasing initiatives in foreign markets. Additionally, U.S.-based export sales have grown to their highest levels. What this growth means is increased exposures. Tied into this increase is a general lack of experience for those executives engaged in global trade with understanding international and supply chain risks and providing cost-effective solutions to their companies benefit. This book outlines all the critical issues in understanding global risk management and establishes a workable structure, outline, and action plan for corporate executives as a blueprint to follow. The primary deliverables of the book are: Comprehension of the risks in global supply chains Enterprise solutions Cost-effective, functional, and hands-on skill set development to manage risk, insurance, and loss control in international operations, purchasing, and sales Addressing the increasing concerns over global security and cybersecurity Business people need to understand the psychology of risk more than the mathematics of risk.