Cultural Calamity: Culture Driven Risk Management Disasters and How to Avoid Them
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On average, a company will lose 25% of its revenue from an organizational disaster - and that's the good news. The average cost to have prevented it? Less than one-tenth of 1%. But that's not the worst of it; in virtually every case, the organization's leadership will already know this… Cultural Calamity: Culture Driven Risk Management Disasters and How to Avoid Them presents Joseph W. Mayo's breakthrough theory on the surprising relationship between organizational culture and disaster. Exploring over a century of such disasters, Mayo introduces his groundbreaking Risk Hurricane model, which...
On average, a company will lose 25% of its revenue from an organizational disaster - and that's the good news. The average cost to have prevented it? Less than one-tenth of 1%. But that's not the worst of it; in virtually every case, the organization's leadership will already know this… Cultural Calamity: Culture Driven Risk Management Disasters and How to Avoid Them presents Joseph W. Mayo's breakthrough theory on the surprising relationship between organizational culture and disaster. Exploring over a century of such disasters, Mayo introduces his groundbreaking Risk Hurricane model, which identifies the perfect conditions for organizational disaster. A must read for both risk practitioner and business leadership, Mayo clearly and concisely describes the solution to risk hurricanes with real-world examples and current industry case-studies. Cultural Calamity is divided into two parts. Part I "Culture Traits that Foretell Disaster," sets the context for understanding the impact of organizational culture on risk management. Part II, "Navigating the Risk Hurricane," examines case studies that illustrate organizational culture problems that led to catastrophic failures resulting in death and billions of dollars in financial impact. Part II also provides recommendations, proven best practices, and techniques that help organizations improve their risk culture and avoid risk management disasters.
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