Risk Management in Crisis: Winners and Losers during the COVID-19 Pandemic

This book examines risk management during the COVID-19 pandemic, synthesizing existing concepts, strategies, and methods and providing empirical research on risk and risk management. It identifies key factors that determine enterprise failures and successes and suggests a model for business resilience.

Format: Hardback
Length: 242 pages
Publication date: 20 August 2021
Publisher: Taylor & Francis Ltd

Risk management is a crucial domain within the realm of management, particularly when crises arise. This book delves into the realm of risk management during the COVID-19 pandemic, offering a comprehensive examination of the challenges and opportunities presented by this unprecedented global crisis.

The book synthesizes existing concepts, strategies, approaches, and methods of risk management, drawing upon the expertise of scholars and practitioners in the field. It provides a comprehensive overview of risk management principles and practices, tailored to the specific context of the COVID-19 pandemic. Through empirical research, the book sheds light on the impact of the pandemic on businesses of different sizes and sectors, highlighting both the negative consequences and successful strategies employed by these organizations.

The research outcome is based on a thorough study conducted by the authors on a diverse range of 42 enterprises across various industries. These enterprises have faced varying degrees of disruption and challenges due to the pandemic, and the authors have analyzed their risk management practices in response to these emerging global trends. The analysis encompasses both the direct impact of the pandemic on the selected enterprises and the proactive measures they took to adapt and thrive under the new business conditions.

The book identifies key factors that contributed to the failures and successes of these enterprises, providing valuable insights into the dynamics of risk management in challenging times. It explores the role of leadership, adaptability, crisis communication, and risk assessment in navigating the uncertainties of the pandemic. Moreover, the book offers a resilience model for businesses, emphasizing the importance of proactive planning, flexibility, and continuous learning in building sustainable competitive advantage.

The final part of the book reflects on how firms can develop resilience in the face of adversity, drawing upon lessons learned from the COVID-19 crisis. It suggests a comprehensive framework for business resilience, encompassing risk management, strategic planning, and organizational culture. The comparative analysis provided in the book offers valuable insights into different risk management approaches, enabling organizations to adapt and thrive in a rapidly changing business environment.

This Open Access version of the book, available at http://www.taylorfrancis.com/books/oa-mono/10.4324/9781003131366/, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license. This license allows for non-commercial use, reproduction, and distribution of the book, provided that the original authors and source are credited.

In conclusion, Risk Management in Crisis: The COVID-19 Pandemic Perspective is a valuable resource for scholars, practitioners, and policymakers seeking to understand and navigate the challenges posed by crises. It offers a comprehensive and insightful examination of risk management principles and practices, providing valuable insights into the strategies and measures that can help organizations build resilience and thrive in the face of adversity.

Weight: 516g
Dimension: 162 x 240 x 22 (mm)
ISBN-13: 9780367674540