Risk Management in Crisis

Risk management is a domain of management which comes to the fore in crisis. This book looks at risk management under crisis conditions in the COVID-19 pandemic context. The book synthesizes existing concepts, strategies, approaches and methods of risk management and provides the results of empirical research on risk and risk management during the COVID-19 pandemic. The research outcome was based on the authors' study on 42 enterprises of different sizes in various sectors, and these firms have either been negatively affected by COVID-19 or have thrived successfully under the new conditions of conducting business activities. The analysis looks at both the impact of the COVID-19 pandemic on the selected enterprises and the risk management measures these enterprises had taken in response to the emerging global trends. The book puts together key factors which could have determined the enterprises' failures and successes. The final part of the book reflects on how firms can build resilience in challenging times and suggests a model for business resilience. The comparative analysis will provide useful insights into key strategic approaches of risk management. The Open Access version of this book, available at http://www.taylorfrancis.com/books/oa-mono/10.4324/9781003131366/ has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Piotr Jedynak is Professor of Management. He works at Jagiellonian University in Cracow, Poland, where he holds the positions of Vice-Rector for Financial and HR Policy and Head of the Management Systems Department. He specializes in risk management, strategic management and management systems. He is the author of numerous publications, an auditor and consultant to many public and business organizations. Sylwia Bak holds a PhD in Management Sciences. She works as a researcher and lecturer in the Management Systems Department of Jagiellonian University in Cracow, Poland. In her interests, research and publications, she focuses on issues related to risk management, strategic management and standardized management systems.

Introduction 1. Uncertainty and risk in the modern world 2. Concepts and standards of risk management 3. Challenges of risk management during crisis situations 4. Dominant business risks during the COVID-19 pandemic 5. "Risk losers" during the COVID-19 pandemic - case studies 6. "Risk winners" during the COVID-19 pandemic - case studies 7. Building enterprises' resilience to crisis. Lessons learned during the COVID-19 pandemic. Conclusions