Managing systemic risk in emergency management, organizational resilience and climate change adaptation

Abstract

PurposeThis paper applies the theory of cascading, interconnected and compound risk to the practice of preparing for, managing, and responding to threats and hazards. Our goal is to propose a consistent approach for managing major risk in urban systems by bringing together emergency management, organisational resilience, and climate change adaptation.Design/methodology/approachWe develop a theory-building process using an example from the work of the Greater London Authority in the United Kingdom. First, we explore how emergency management approaches systemic risk, including examples from of exercises, contingency plans and responses to complex incidents. Secondly, we analyse how systemic risk is integrated into strategies and practices of climate change adaptation. Thirdly, we consider organisational resilience as a cross cutting element between the approaches.FindingsLondon has long been a champion of resilience strategies for dealing with systemic risk. However, this paper highlights a potential for integrating better the understanding of common points of failure in society and organisations, especially where they relate to interconnected domains and where they are driven by climate change.Originality/valueThe paper suggests shifting toward the concept of operational continuity to address systemic risk and gaps between Emergency Management, Organizational Resilience and Climate Change Adaptation.

Conversion strategy builds supply chain resilience during the COVID-19 pandemic: A typology and research directions

“…Just recently has knowledge and experiences about how businesses are responding to pandemics begun to accumulate. Resilience to systemic risks should include the understanding of common vulnerabilities to multiple hazards [ 4 , 21 ]. Future research must establish a new framework, building on such theories as panarchy theory and transilience, for analyzing measures and initiatives implemented during the pandemic.…”

“…As a result, this kind of incident is consistently underestimated by supply chain managers and is referred to as a significant “blind spot” that could destroy the entire supply chain of the organization and result in incalculable amounts of damage [ [18] , [19] , [20] ]. Second, interconnected risks through supply chains tend to show the nature of systemic, cascading risks: one point of failure leads to the collapse of an entire system [ 5 , 21 ]. Cascading risks require the flexibility of response, focusing on the common causes of vulnerability rather than on hazards [ 4 ].…”

A review of the global climate change impacts, adaptation strategies, and mitigation options in the socio-economic and environmental sectors

“…In order to deal with climate change, adaptation, and mitigation are needed (Pescaroli et al, 2023). Climate change adaptation, in contrast to climate change mitigation, has a direct effect on extreme weather events such as floods.…”

Reinventing the wheel? Factors influencing relationship: links between sustainability and financial performance. European evidence

“…enhance resilience and reduce vulnerability to systemic shocks (Pescaroli et al, 2023). Systematic risk absorption is related to the concept of adaptive management (Walters, 1986;Montgomery and Singh, 1984;Wintle and Lindenmayer, 2008) and large firms are adroit in handling it (Bhardwaj and Brooks, 1993;Kim and Burnie, 2002).…”

“…For the past four decades, researchers from accounting and other business disciplines have investigated the relationship between sustainability and FP (Grewatsch and Kleindienst, 2017; Perrini et al , 2011). Investigating the same issue in 2023 may appear to be “reinventing the wheel.” However, previous literature typically considered sustainability effects on FP in an isolated manner and in a linear relationship, including ignoring the reverse causality issue (Secinaro et al , 2020; Franco et al , 2020).…”