Decision making in adverse events: a selected literature review
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Date
2021-11-10
Journal Title
Journal ISSN
Volume Title
Publisher
ДВНЗ «Київський національний економічний університет імені Вадима Гетьмана»
Abstract
In the 21st century organizations have to face pressing "big challenges" (George et al.,
2016). It includes adverse events such as global pandemics and climate change. The impacts of
these adverse events lead organizations and decision makers to adopt new behaviours. Although
these adverse events are inevitable, organizations do not respond in the same way. Some
organizations are better able to withstand and recover from such shocks than others (Van der Vegt
et.al, 2015). High-risk events that at first appear to cause only local and isolated effects can now
increase in intensity and damage vital infrastructure affecting events on a national and global
scale. McFarlane and Norris' (2006, p. 4) defined an adverse event as "a potentially traumatic
event that is experienced collectively, has an acute onset, and is limited in time; it can be attributed
to natural, technological or human causes" adverse event is caused by factors external to the
system, unforeseen and requiring immediate action (examples include hurricanes, tsunamis,
earthquakes, pandemics). The traditional way of dealing with adverse events is to develop
approaches and systems to identify risks as such, in this way scholars have shifted their attention
from identifying and mitigating risk to attempting to increase resilience (Sutcliffe & Vogus, 2003).
The term resilience almost always has the positive connotation of flexibility and strengthening.
The desired result is better than the preparation to face disruptive unexpected events.
The purpose of this study is to understand the impact of strategic choices in response to adverse
events on the life of organizations. Specifically, when their responses to adverse events are in not
adaptive resilience way (inertia). In order to understand this, we based this study on a review of
the literature specifically linked to adverse events and the way in which it’s possible to front them.
Description
Keywords
decision making, adverse events, resilience
Citation
Decision making in adverse events: a selected literature review [Електронний ресурс] / Cristofaro Concetta Lucia, Vesperi Walter, Ventura Marzia, Melina Anna Maria // Стратегія бізнес-організації в умовах невизначеності : зб. матеріалів міжнар. наук.-практ. конф., м. Київ, 10 листоп. 2021 р. / М-во освіти і науки України, Київ. нац. екон. ун-т ім. В. Гетьмана ; [орг. ком.: М. Сагайдак (голова) та ін.]. – Електрон. текст. дані. – Київ : КНЕУ, 2021. – C. 165–172. – Назва з титул. екрану.