The Routledge Companion to Risk, Crisis and Security in Business

501 Pages·2018·7.483 MB·English

by  Engemann, Kurt J.

The Editor, Professor Kurt Engemann, along with the effort of contributing authors,
has created an important resource for scientists, practitioners and students by
producing The Routledge Companion to Risk, Crisis and Security in Business. This
quality book provides a thorough exploration of numerous significant issues and
methods, not commonly covered in textbooks in this vital field.
– Terje Aven, PhD, Professor of Risk Analysis and Risk Management,
University of Stavanger, Norway
This book is a comprehensive and authoritative source of the state-of-the-art in
risk, crisis and security, from both a conceptual and a practical perspective. It is
a must-read for business leaders, policy analysts, technicians and academics who
seek innovative approaches and solutions for this exponentially growing complex
field.
– Giampiero E.G. Beroggi, PhD, Professor and Director Center for
Business Innovation, University of Applied Sciences in
Business Administration Zurich, Switzerland

The Routledge Companion to
Risk, Crisis and Security
in Business
Aware that a single crisis event can devastate their business, managers must be prepared for
the worst from an expansive array of threats. The Routledge Companion to Risk, Crisis and
Security in Business comprises a professional and scholarly collection of work in this critical
field. Risks come in many varieties, and there is a growing concern for organizations to respond
to the challenge. Businesses can be severely impacted by natural and man-made disasters
including: floods, earthquakes, tsunami, environmental threats, terrorism, supply chain risks,
pandemics, and white-collar crime. An organization’s resilience is dependent not only on their
own system security and infrastructure, but also on the wider infrastructure providing health
and safety, utilities, transportation, and communication.
Developments in risk security and management offer a path towards resilience and recovery
through effective leadership in crisis situations. The growing body of knowledge in research
and methodologies is a basis for decisions to safeguard people and assets, and to ensure the
survivability of an organization from a crisis. Not only can businesses become more secure
through risk management, but an effective program can also facilitate innovation and afford
new opportunities.
With chapters written by an international selection of leading experts, this book fills a
crucial gap in our current knowledge of risk, crisis and security in business by exploring a
broad spectrum of topics in the field. Edited by a globally-recognized expert on risk, this
book is a vital reference for researchers, professionals and students with an interest in current
scholarship in this expanding discipline.
Kurt J. Engemann, PhD, is Professor of Information Systems and Director of the Center for
Business Continuity and Risk Management, Iona College, USA.
Routledge Companions in Business, Management
and Accounting
Routledge Companions in Business, Management and Accounting are prestige reference
works providing an overview of a whole subject area or sub-discipline. These books survey
the state of the discipline including emerging and cutting edge areas. Providing a compre-
hensive, up to date, definitive work of reference, Routledge Companions can be cited as an
authoritative source on the subject.
A key aspect of these Routledge Companions is their international scope and relevance.
Edited by an array of highly regarded scholars, these volumes also benefit from teams of con-
tributors which reflect an international range of perspectives.
Individually, Routledge Companions in Business, Management and Accounting provide an
impactful one-stop-shop resource for each theme covered. Collectively, they represent a compre-
hensive learning and research resource for researchers, postgraduate students and practitioners.
Published titles in this series include:
THE ROUTLEDGE COMPANION TO ACCOUNTING INFORMATION SYSTEMS
Edited by Martin Quinn and Erik Strauss
THE ROUTLEDGE COMPANION TO AIR TRANSPORT MANAGEMENT
Edited by Nigel Halpern and Anne Graham
THE ROUTLEDGE COMPANION TO THE GEOGRAPHY OF
INTERNATIONAL BUSINESS
Edited by Jonathan Beaverstock, Gary Cook, Jennifer Johns,
Frank McDonald and Naresh Pandit
THE ROUTLEDGE COMPANION TO RISK, CRISIS AND SECURITY IN BUSINESS
Edited by Kurt J. Engemann
For more information about this series, please visit: www.routledge.com/series/RCBMA
The Routledge Companion
to Risk, Crisis and Security
in Business
Edited by
Kurt J. Engemann
First published 2018
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
and by Routledge
711 Third Avenue, New York, NY 10017
Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2018 selection and editorial matter, Kurt J. Engemann; individual chapters, the
contributors
The right of Kurt J. Engemann to be identified as the author of the editorial material,
and of the authors for their individual chapters, has been asserted in accordance with
sections 77 and 78 of the Copyright, Designs and Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced or utilised in
any form or by any electronic, mechanical, or other means, now known or hereafter
invented, including photocopying and recording, or in any information storage or
retrieval system, without permission in writing from the publishers.
Trademark notice: Product or corporate names may be trademarks or registered
trademarks, and are used only for identification and explanation without intent to
infringe.
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
Names: Engemann, Kurt J., 1950– editor.
Title: The Routledge companion to risk, crisis and security in business /
edited by Kurt J. Engemann.
Other titles: Routledge companion to risk, crisis and security in business
Description: 1st Edition. | New York : Routledge, [2018] | Series: Routledge
international handbooks | Includes bibliographical references and index.
Identifiers: LCCN 2017046181 | ISBN 9781138643109 (hardback) |
ISBN 9781315629520 (ebook)
Subjects: LCSH: Risk management. | Crisis management. |
Business enterprises—Security measures.
Classification: LCC HD61. R675 2018 | DDC 658.15/5—dc23
LC record available at https://lccn.loc.gov/2017046181
ISBN: 978-1-138-64310-9 (hbk)
ISBN: 978-1-315-62952-0 (ebk)
Typeset in Times New Roman
by Apex CoVantage, LLC
Contents
List of figures xi
List of tables xiii
List of contributors xiv
PART I
Developing, implementing and maintaining risk strategies 1
1 Developments in risk security 3
Kurt J. Engemann
2 The evolution of risk management thinking in organizations 20
Phil Kelly
3 Intuition and decision making for crisis situations 47
Holmes E. Miller
4 Business continuity management organizations: the models of
implementation 62
Wei Ning Zechariah Wong and Jianping Shi
5 Knowledge in high-reliability organizations: a review of
interrelated perspectives 80
Krista N. Engemann
PART II
Natural and man-made disasters 91
6 A retrospective account of the impacts of the 1960 Valdivia, Chile,
earthquake and tsunami and the lack of business continuity planning 93
Benigno E. Aguirre
vii
Contents
7 What lurks beneath: deep supply chain risks 100
Yossi Sheffi
8 Crisis leadership: a leader’s new normal 120
Robert J. Darling and Stephen Young
9 Internal investigations of white-collar crime 144
Petter Gottschalk
10 Collapse or recovery after white-collar crime 157
Petter Gottschalk
PART III
Infrastructure risks 171
11 Business resiliency considerations: in the site selection and
construction of a new facility 173
Natalie M. Dengler
12 Megacities at risk 189
Cesar Marolla
13 Self-organization and its role in building disaster resilience 193
Nirmita Mehrotra
14 Risk management in the bioeconomy 209
Jutta Geldermann
15 SMEs defending their businesses from flood risk: contributing
to the theoretical discourse on resilience 224
Bingunath Ingirige and Gayan Wedawatta
PART IV
Systems security for business resiliency 237
16 Security awareness in the software arena 239
Rory V. O’Connor and Ricardo Colomo-Palacios
17 Information security in an ever-changing threat landscape 255
Matthew Lagana
viii
Contents
18 Business continuity and e-business: towards an “always-on”
e-business 272
Nijaz Bajgoric
19 Using location k-anonymity models for protecting location
privacy 296
Eric Di Carlo, Heechang Shin and Haibing Lu
PART V
Risk in business sectors 307
20 Accounting information systems: opportunity and risk 309
Shoshana Altschuller and Shaya (Isaiah) Altschuller
21 Transcending beyond finance for managing foreign exchange risk 319
George A. Zsidisin and Barbara Gaudenzi
22 Financial risk inherent in oil fracking 328
Roy Nersesian
23 Cause-related marketing and disaster management: opportunities
from tourism-related initiatives 351
Giuseppe Aliperti, Francesco Rizzi and Marco Frey
24 Shared sorrow is half a sorrow: the role of social capital in
building resilient supply chains 364
Mitchell J. van den Adel, Dirk Pieter van Donk and
Kirstin Scholten
25 Risk management and auditing of technology incubators/science
parks: innovation enabler to drive capacity of tech ventures 381
Jarunee Wonglimpiyarat and Mark Billington
PART VI
Qualitative and quantitative risk modeling 401
26 What’s in a name? 403
Kate Boothroyd
27 Leading through uncertainty 418
Cesar Marolla
ix