Risk versus vulnerability: Difference between revisions

Latest revision as of 13:32, 4 October 2021

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-{{a|devil|}}Accidents ''will'' happen. Four strategies for coping: three focus on the accident, one focuses on your organisation.
+#redirect[[coping strategy]]
-*'''Dealing with accidents''':
-:*Respond to accidents when they happen
-:*Limit damage accidents can cause
-:*Minimise chance that accidents happen
-*'''Dealing with your [[organisational model]]''': Assuming accidents ''will'' happen, reduce vulnerability to them. Vulnerability comes in the form of unusual [[concentrations]]:
-:*Concentration of energy — in a financial services firm, call this financial risk, or profit-and-loss generators
-:*Concentration of population — different models of [[distributed network]]. Compare “hub and spoke” models like airports (fragile — take out a hub and large parts of the system are inoperable) with “multiple-node” networks like the internet (robust — take out a node and everything can flow a different way).
-:*Concentration of political/economic power— increases the vulnerability to harm from [[executive failure]].