MIT Press The Power of Resilience: How the Best Companies Manage the Unexpected

Description

How the best companies prepare for and manage modern vulnerabilities―from cybersecurity risks to climate change: new tools, processes and organizations for developing corporate resilience. A catastrophic earthquake is followed by a tsunami that inundates the coastline, and around the globe manufacturing comes to a standstill. State-of-the-art passenger jets are grounded because of a malfunctioning part. A strike halts shipments through a major port. A new digital device decimates the sales of other brands and sends established firms to the brink of bankruptcy. The interconnectedness of the global economy today means that unexpected events in one corner of the globe can ripple through the world's supply chain and affect customers everywhere. In this book, Yossi Sheffi shows why modern vulnerabilities call for innovative processes and tools for creating and embedding corporate resilience and risk management. Sheffi offers fascinating case studies that illustrate how companies have prepared for, coped with, and come out stronger following disruption―from the actions of Intel after the 2011 Japanese tsunami to the disruption in the “money supply chain” caused by the 2008 financial crisis. Sheffi, author of the widely read The Resilient Enterprise , focuses here on deep tier risks as well as corporate responsibility, cybersecurity, long-term disruptions, business continuity planning, emergency operations centers, detection, and systemic disruptions. Supply chain risk management, Sheffi shows, is a balancing act between taking on the risks involved in new products, new markets, and new processes―all crucial for growth―and the resilience created by advanced risk management. Review: Fantastic book. Writing is repetitive and a little unorganized. - I work as a financial adviser and teach university classes for risk management and finance majors. I have used this book for class material and as recommendations for my clients. It is a fantastic book that breaks down every issue a company could possible encounter and a variety of solutions to said issues. It focuses mainly on supply chains but provides countless examples from many different industries for support. There are a few cons to this book. It is very repetitive. The material is all good however, it does become apparent that the narrative from chapter to chapter is cut and paste. There is some issue, it disrupts the supply chain, money is lost, a solution is created, the solution is still used today. This, the book starts to drag about halfway through. Another issue I have is in the way supplementary examples are provided. Sheffi kind of just machine guns examples at you without much order and it can be confusing or daunting to read all of them at once. Other than those small things this book is a masterpiece and a staple for anyone going into the corporate management world, risk management, finance, or accounting. Sheffi spells out exactly what large companies deal with day to day and enlightens readers on how to be better supply chain managers and better risk assessors. Review: Great book - If you’re interested in supply chain risk, resilience and business continuity planning this book is the one for you