Cultural Calamity

Cultural Calamity

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On average, a company will lose 25% of its revenue from an organizational disaster a€“ and thata€™s the good news. The average cost to have prevented it? Less than one-tenth of 1%. But thata€™s not the worst of it; in virtually every case, the organizationa€™s leadership will already know this... Cultural Calamity: presents Joseph W. Mayo's breakthrough theory on organizational risk culture. 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 practitioners 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 qCulture Traits that Foretell Disaster, q sets the context for understanding the impact of organizational culture on risk management. Part II, a€œNavigating the Risk Hurricane, a€ 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.We will examine a GM ignition switch defect that was recognized in 2001 but not corrected until 2015. ... up costing GM $4.1 billion in fines, legal fees, settlements, and corrective action to recall and repair 2.6 million vehicles. The recall cost per vehicle was estimated in 2015 to be $1, 077. Originally, the ignition switch was confined to the Saturn Ion, but the defective switch was added to the Chevy Cobaltanbsp;...

Title:Cultural Calamity
Author: Joseph W. Mayo
Publisher:BookBaby - 2017-03-22

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