Navigating the ‘dark waters of globalisation’: Global markets, inequalities and the spatial dynamics of risk

Abstract

The links between the processes of globalisation and the generation of risk have been brought into sharp focus as a function of a series of accidents and terrorist attacks on Western interests and their supply chains. The increasingly interconnected nature of organisations, the dependence of western economies on a set of global supply chains, the export of hazardous goods and services, and the recruitment of staff from a global recruitment pool, all generate the potential for new forms of hazard and require organisations to reconfigure and extend the capabilities of their control and monitoring systems. Our aim in this article is to review the challenges that globalisation processes can generate for organisational effectiveness and, in particular, on the performance of processes around risk management and the prevention of crises.

Supply chain management in times of crisis: a systematic review

“…• Reviews (Raspor 2008 ; Natarajarathinam et al 2009 ; Pfohl et al 2010 ; Andrews et al 2011 ; VanVactor 2011 ; Gereffi and Lee 2012 ; Fischbacher-Smith and Smith 2015 ; Chammem et al 2018 ; Sawyerr and Harrison 2019 ; Yuen et al 2020 )…”

“…First, capacity cooperation and collaboration (Yan et al 2019 ; Harland 2021 ; Harland et al 2021 ) for relationship management and cross-functional integration that facilitates competitive and cooperative negotiations (Kaddouci et al 2009 ). Second, real-time control with coordination and governance to maintain security and quality of tiered-suppliers (Lau et al 2008 ; Andrews et al 2011 ; Fischbacher-Smith and Smith 2015 ), and to manage power imbalances due to the activities of non-governmental organisations (NGOs) (Adem et al 2018 ). Complexities of crisis-induced collaboration and control also causes supply chain managers to revisit risk management practices (Madichie and Yamoah 2017 ) for coping with situation dependent decisiveness that generates temporary or permanent network solutions (Richey 2009 ; Zhu et al 2020 ; Thompson and Anderson 2021 ).…”

“…Thus, capturing data to prompt preparedness for future crisis is a critical area of concern for proactivity in times of crisis (Natarajarathinam et al 2009 ; Craighead et al 2020 ). This capability aids in responding to ongoing and emergent public and supply chain concerns (Overby et al 2004 ), monitoring the business environment (Panwar et al 2012 ), identifying crisis sources (Lu et al 2019 ), and holistically managing risks (Pfohl et al 2010 ; Blome and Schoenherr 2011 ; Hittle and Leonard 2011 ; Fischbacher-Smith and Smith 2015 ; Schiele et al 2021 ). The literature also indicates that tapping into knowledge from organisational silos (Andrews et al 2011 ) and experiences of HROs boosts the proactivity of mindful organisations and affords supply chains with the ability to circumvent disruptions and sustain operation under continuously precarious and complex conditions (Sawyerr and Harrison 2019 ).…”

Small Business Social Responsibility: More than Size

“…Ahead of the curve, some management academics have provided general overviews of cryptographic currencies in lesser journals (Yahanpath and Wilton, 2014) and guidance for how to teach business students about currency innovation (Barrea, 2015). Within risk management the existence of Bitcoin also began to be mentioned (Fischbacher-Smith and Smith, 2015), while those interested in maintaining competitive markets have noted potential for new competition from cryptographic currencies within the context of new payments technologies (Zucarro and Bridwell, 2016). Academics in accounting also realised there are interesting implications from Bitcoin for financial reporting (Smith and Weismann, 2014;Grant and Hogan, 2015).…”

Through a glass darkly: Expertise, evidence, and the management of uncertainty

“…We have argued that a narrow perspective on risk may lead to paradigm blindness (Fischbacher-Smith, 2012) and inhibit effective learning. The argument that the destructive aspects associated with risk need to be seen within the context of production and the flows that underpin them has also been highlighted as a key component of a more holisitic approach to risk (Hudson, 2009;Johnson, 2009;Fischbacher-Smith and Smith, 2015). Finally, the journal has also raised a number of issues around complexity, the management of uncertainty within risk assessment, and processes relating to the range of responses to such ambiguities (Glenwright and Murray, 1999;Allen et al, 2006;Brookfield and Smith, 2006;Johnson, 2006;Allen et al, 2010).…”