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Learning From the Global Financial CrisisCreatively, Reliably, and Sustainably$
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Paul Shrivastava and Matt Statler

Print publication date: 2012

Print ISBN-13: 9780804770095

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804770095.001.0001

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PRINTED FROM STANFORD SCHOLARSHIP ONLINE (www.stanford.universitypressscholarship.com). (c) Copyright Stanford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in SSO for personal use.date: 17 April 2021

A Busy Decade

A Busy Decade

Lessons Learned from Crisis Planning and Response from 1999 to 2009

(p.199) 11 A Busy Decade
Learning From the Global Financial Crisis

Michael Berkowitz

Stanford University Press

This chapter presents an account of the lessons that have been learned from the past decade of practice in the field of crisis management. This discipline, which in organizational contexts often focuses on operational risks, has undergone a series of significant transformations in response to the rise of global terrorism as well as the myriad threats associated with flu pandemics and climate change. The discussion looks at the tension between all-hazards and hazard-specific protocols, the relevance of testing the crisis management system on low-grade incidents, and the importance of communications. It remains to be seen whether functional crisis management systems can be built across institutional and national boundaries within the financial markets, much less in other markets.

Keywords:   crisis management, operational risks, operational risk, global terrorism, communications

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