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There is an increasing trend towards the generalization of theories and solutions. Politicians try to impose political models and solutions—which may have worked well in some countries—in very different societies elsewhere. Management theorists take what they see as good practice from leading companies in one country and propose universal solutions to millions of other organizations worldwide. MBA programs train universal managers capable—on paper at least—of running any company.
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John J. Hampton, Fundamentals of Enterprise Risk Management. How Top Companies Assess Risk, Manage Exposure, and Seize Opportunity, Second Edition, AMACOM, 2009
Risk culture. Under the Microscope, The Institute of Risk Management, 2012, https://www.theirm.org/media/885907/Risk_Culture_A5_WEB15_Oct_2012.pdf and Risk culture. Resources for Practitioners, The Institute of Risk Management, 2012, https://www.iia.org.uk/media/329076/firm_risk_culture_-_resources_for_practitioners.pdf
Extended Enterprise: Managing risk in complex 21st century organizations, The Institute of Risk Management, 2012, https://www.theirm.org/media/1155369/IRM-Extended-Enterprise_A5_AW.pdf
Marcia Clemmitt, Issue: Crisis Management, Sage Business Researcher, February 9, 2017
Risk Management Standard, IRM, 2002
ISO 31000:2009, Risk management – Principles and guidelines, International Organization for Standardization
A structured approach to Enterprise Risk Management (ERM) and the requirements of ISO 31000, AIRMIC, Alarm, IRM, 2010
Katelyn Smith, Best Practices for Effective Corporate Crisis Management: A Breakdown of Crisis Stages Through the Utilization of Case Studies, California Polytechnic State University, 2012
Enterprise Risk Management, Aligning Risk with Strategy and Performance, Executive Summary, Committee of Sponsoring Organizations of the Treadway Commission, June 2016 edition
Douglas W. Hubbard, The Failure of Risk Management: Why It’s Broken and How to Fix It, John Wiley & Sons, 2009, p. 22
Michel Crouhy, Dan Galai, Robert Mark, Risk Management, McGraw-Hill Education, 2000, pp. 615–661
Michael Regester, Judy Larkin, Risk issues and crisis management: a casebook of best practice, 2005, 3rd ed. pp. 133–162
James Lam, Enterprise Risk Management: From Incentives to Controls, John Wiley & Sons, 2014, 2nd ed. pp. 277–336
Nicola Martina Zech, Doctoral thesis “Crisis management within the hotel industry – a stakeholder relationship management approach”, Faculty of Economics and Management, University of Latvia, Riga, 2016
W. Earl Sasser, Richard Paul Olsen, D. Daryl Wyckoff, Management of service operations: text, cases, and readings, Allyn and Bacon, 1978
Philip Kotler, Principles of marketing, Prentice-Hall, 1980
Christopher H. Lovelock, Classifying Services to Gain Strategic Marketing Insights, Journal of Marketing, 1983, Vol. 47, No. 3, pp. 9–20
James L. Heskett, Managing in the Service Economy, Harvard Business School Press, 1986
James L. Heskett, Christopher Hart, Earl Sasser, Service Breakthroughs: Changing the Rules of the Game, Free Press, 1990
Richard Normann, Service Management: Strategy and Leadership in Service Business, Wiley, 1991
James A. Fitzsimmons, Mona J. Fitzsimmons, Service Management: Operations, Strategy, Information Technology, McGraw-Hill/Irwin, 1998
Cengiz Haksever, Barry Render, Roberta S. Russell, Robert G. Murdick Service, Management and Operations, Pearson, 1999
Bart van Looy, Paul Gemmel, Roland Dierdonck, Services Management: An Integrated Approach, Pearson Education, 2003
Richard L. Daft, Organization Theory and Design, Cengage Learning, 2010
William J Stevenson, Operations Management, McGraw-Hill, 2012
Richard L. Daft, Dorothy Marcic, Understanding Management, Cengage Learning, 2013
Richard L. Daft, Management, Cengage Learning, 2015
Loss of life; losses due to products that are poorly designed, or revealed later to cause illnesses and deaths; loss and disruption of business when hidden long-term health and environmental hazards are progressively revealed; losses due to unhealthy production practice endangering the health of employees; high costs for the cleaning/rehabilitation of contaminated or destroyed habitats.
Losses due to supply chain disruption, especially when a business is dependent on a small number of suppliers for key parts or components; loss due to environmental disasters, earthquakes, hurricanes, floods, landslides, pandemics…; losses due to changes of legislation or higher costs for risk mitigation following an accident (e.g. in the case of the Three Mile Island reactor meltdown); losses due to industrial failure of machines and infrastructure through aging, poor maintenance; dangerous siting, inadequate risk management, or bad luck; losses due to accidents in a given industry that affect the global public perception of that whole industry (e.g. nuclear accidents); loss due to electricity blackout in a region.
Loss of profits; loss of business due to competition; loss of market share due to disruptive technology; Loss of access or of market power due to changing geopolitics; loss of competitiveness due to changing regulations; losses due to liability changing with new regulation; failure to access a market due to political protectionism on grounds of national security, more stringent regulation, or opposition from local populations; loss of ownership due to nationalization; losses due to black market business or industrial malpractice revealed many years later, either within a firm itself or on the part of its suppliers/subcontractors.
Losses due to volatility in currency exchange and financial markets, impacting costs as well as cash management; losses due to interest rate changes impacting debt servicing costs.
Loss of reputation or public trust due to unethical practice: exploitation of ancient forests, child labor, extreme exploitation of workers in sweatshops, exploitation of animals, discrimination against specific groups such as LGBT, particular races or religions, etc.; losses due to sub-standard performance by employees leading to low quality products, or unhygienic conditions that later threaten the health or life of customers; losses due to employee error, incompetence, or psychologically unbalanced behavior; losses due to customer bad habits or mistakes that the company nevertheless has to endorse in order not to lose trust and market share; losses due to corruption charges; losses due to theft or counterfeiting; losses due to lawsuits and class actions.
Losses due to destruction by military or terrorist sabotage action; losses due to international sanctions; losses due to social disruption in a country, say due to a general strike; losses due to employee strikes and employer-employee conflicts; losses due to cyber-attacks and loss of control of a company’s IT system, losses due to sabotage by employees or external agents.
Some phone producers manufacture very reliable phones, which can work properly during many years but, unknown to the customers, they install special software in their phones, which makes them slow down so as to motivate customers to buy new more powerful phones with new features, just after several years of usage (Angelo Amante, Paresh Dave, Italian watchdog fines Apple, Samsung over software updates, Reuters, October 24, 2018)
D. Ronald Daniel, Management Information Crisis, Harvard Business Review, September–October 1961
John F. Rockart, Chief Executives Define Their Own Data Needs, Harvard Business Review, March–April 1979
John F. Rockart, The changing role of the information systems executive: a critical success factors perspective, Center for Information Systems Research, Sloan School of Management, MIT, April 1982
International Standard Industrial Classification of All Economic Activities, Rev.4, https://unstats.un.org/unsd/cr/registry/regcst.asp?Cl=27 and https://unstats.un.org/unsd/publication/seriesM/seriesm_4rev4e.pdf
- Chapter 1
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