Pandemic Risk Management In Operations And Finance

COVID-19 has spread around the world, causing tremendous structural change, and severely affecting global supply chains and financial operations. As such there is a need for analytic tools help deal with the impact of the pandemic on the world’s economies; these tools are not panaceas and certainly won’t cure the problems faced, but they offer a means to aid governments, firms, and individuals in coping with specific problems. This book provides an overview of the COVID-19 pandemic and evaluates its effect on financial and supply chain operations. It then discusses epidemic modeling, presenting sources of quantitative and text data, and describing how models are used to illustrate the pandemic impact on supply chains, macroeconomic performance on financial operations. It highlights the specific experiences of the banking system, which offers predictions of the impact on the Swedish banking sector. Further, it examines models related to pandemic planning, such as evaluation of financial contagion, debt risk analysis, and health system efficiency performance, and addresses specific models of pandemic parameters. The book demonstrates various tools using available data on the ongoing COVID-19 pandemic. While it includes some citations, it focuses on describing the methods and explaining how they work, rather than on theory. The data sets and software presented were all selected on the basis of their widespread availability to any reader with computer links.

Risk management is a domain of management which comes to the fore in crisis. This book looks at risk management under crisis conditions in the COVID-19 pandemic context. The book synthesizes existing concepts, strategies, approaches and methods of risk management and provides the results of empirical research on risk and risk management during the COVID-19 pandemic. The research outcome was based on the authors’ study on 42 enterprises of different sizes in various sectors, and these firms have either been negatively affected by COVID-19 or have thrived successfully under the new conditions of conducting business activities. The analysis looks at both the impact of the COVID-19 pandemic on the selected enterprises and the risk management measures these enterprises had taken in response to the emerging global trends. The book puts together key factors which could have determined the enterprises’ failures and successes. The final part of the book reflects on how firms can build resilience in challenging times and suggests a model for business resilience. The comparative analysis will provide useful insights into key strategic approaches of risk management. The Open Access version of this 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.

The COVID-19 pandemic has re-shaped organizations on many levels: resource, process, structural and relational. Such a wide range of forced changes has resulted in a greater need to implement risk management principles and procedures to secure an organization's position in the market. This book presents selected and key aspects of managing contemporary organizations in the conditions of the COVID-19 pandemic, enriched with empirical analyses relating to various countries of the world. This edited collected focuses on clarifying and solving basic management dilemmas, integrated issues of risk management and organization security in light of changes during the COVID-19 pandemic. It specifically explores the following common problem areas, across industries and sectors, using theoretical, empirical and practical perspectives: financial, economic and regulatory conditions for management processes in the conditions of the COVID-19 pandemic; management of information resources and security in the conditions of the development of the phenomenon of digital risk and e-commerce; shaping relationships with stakeholders, with particular emphasis on relationships with customers in the conditions of sales processes; shaping the processes of creating and diffusing knowledge, with particular emphasis on the activities of educational entities. Organizational Management and the COVID-19 Crisis will be directly relevant for researchers and academics across a range of management disciplines, including strategic management, risk management, organizational studies, information and knowledge management and related fields.

The coronavirus crisis and related business failures are widely discussed topics, with COVID-19 raising many concerns about existing risk management models. Many companies have struggled to understand which factors to consider in their business model to address the new risks associated with the pandemic. The resulting financial crisis has highlighted the importance of further research on risk management that will allow businesses to develop feasible models for handling various risks in the ongoing crisis and recovery period.Existing academic studies emphasise the necessity of revised risk management models, but focus on the risk posed by Artificial Intelligence and other advanced technologies. The detailed study thus fulfils the vital need to understand how the risk management strategies of businesses should be revised, to adapt to changes brought about by the pandemic.This book is essential reading for students studying risk management, researchers examining the relation between advanced technology and risk management mitigation strategies, businesses working on their strategies around managing risk, and policymakers looking for necessary policy changes for an effective support to businesses.

"This book discusses the financial instruments firms use to manage the different kind of financial risks, such as interest rate risk, corporate risk, credit risk, liquidity and default risk and is intended to help the reader understand the risk management practices in different countries, and their relationship to firms' performance, and other dimensions of companies"--

Identify, assess, and mitigate operational risk with this practical and authoritative guide In the newly revised second edition of Operational Risk Management: A Complete Guide for Banking and Fintech, accomplished risk executive and expert Philippa Girling delivers an insightful and practical exploration of operational risk in organizations of all sizes. She offers risk professionals and executives the tools, strategies, and best practices they need to mitigate and overcome ever-present operational risk challenges that impact business in all industries. This latest edition includes: Insight into how operational risk can be effectively managed and measured in today's digital banking age. Updates on the latest regulatory guidance on operational risk management requirements in all aspects of the operational risk framework. Updates on the new Basel II capital modeling methodology for operational risk. New explorations of operational risk events in recent years including the impact of the global Covid-19 pandemic. Updated case studies including large events at Wells Fargo, Credit Suisse and Archegos Capital Management. Ideal for executives, managers, and business leaders, Operational Risk Management is also the perfect resource for risk and compliance professionals who wish to refine their abilities to identify, assess, mitigate, and control operational risk.

Risks are present in the life cycle of any individual, organization or society at any stage of their development, whether one is aware of them or not. Why some of our choices or decisions would lead to undesirable results? What are the factors that either lead or contribute to the negative outcomes? What an individual or organization can do to avoid or limit the negative consequences of the risks? These are vital questions facing every one of us, whether an individual rich or poor, or an organization large or small. This book presents an overview of risk management with a common framework applicable to both organizations and individuals. Supplementary glossary of key concepts of relevance to risks and risk management is also included and sorted alphabetically, intended for readers to more fully comprehend the vast problem space of risks and self-explore evolving solutions on as-needed basis. This book highlights the importance of testing and simulation as a critical component of risk identification and assessment methodology in the era of COVID-19 pandemic and Boeing 737 Max disasters, which may offer new perspectives for risk management professionals. The book may also be useful in general, both as an introduction to the perspective of life as a risk management process touching on all human experiences, and as a stepping stone for easy access to the vast Wikidata and Wikipedia resources on risks and do-it-yourself (DIY) 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.

Bachelor Thesis from the year 2008 in the subject Business economics - Operations Research, grade: 2,0, University of Applied Sciences Magdeburg, language: English, abstract: The paper deals with the economic impact of possible pandemics and draws conclusions for the risk management of individual companies. Against the background of historical examples, the emergence of pandemics and their possible effects are explained. On the basis of the WHO classification, the current risk situation is discussed and the possible economic effects are examined. The consequences on the supply and demand side are considered and the short-, medium- and long-term effects of a pandemic are also dealt with. Furthermore, the exposure of various industries to such an emergency is analysed. The possible consequences for the individual company are also explained. Furthermore, disruptions in business operations, transport or infrastructure and changes in the economic environment of a company are described in more detail. The work also describes the task, the goal and the possibilities of operational pandemic planning.