Rethinking Risk in National Security (eBook)

Lessons of the Financial Crisis for Risk Management

Michael J. Mazarr (Autor)

eBook Download: PDF

2016 | 1st ed. 2016
IX, 246 Seiten
Palgrave Macmillan US (Verlag)
978-1-349-91843-0 (ISBN)

Infos

This book examines the role of risk management in the recent financial crisis and applies lessons from there to the national security realm. It rethinks the way risk contributes to strategy, with insights relevant to practitioners and scholars in national security as well as business. Over the past few years, the concept of risk has become one of the most commonly discussed issues in national security planning. And yet the experiences of the 2007-2008 financial crisis demonstrated critical limitations in institutional efforts to control risk. The most elaborate and complex risk procedures could not cure skewed incentives, cognitive biases, groupthink, and a dozen other human factors that led companies to take excessive risk. By embracing risk management, the national security enterprise may be turning to a discipline just as it has been discredited.

Michael J. Mazarr is a Senior Political Scientist at the RAND Corporation, USA. The author of 12 books, he has been a professor and dean at the National War College, USA, a special assistant to the Chairman of the US Joint Chiefs of Staff, a senior fellow at the Center for Strategic and International Studies (CSIS), USA, and a defense aide on Capitol Hill.

Inhalt

Cover 1
Half Title 2
Title Page 4
Copyright Page 5
Table of Contents 6
List of Tables and Boxes 8
Acknowledgments 10
Part I Background 11
1 Risk, Judgment, and Uncertainty 12
2 Defining Risk 28
3 Approaches to Risk in National Security 44
Part II Lessons of the Crisis—The Character of Risk 57
4 Risk and Uncertainty 58
5 Risk Is What We Make of It 72
6 Indifferent to Consequences 83
7 The Swans to Worry About Are Gray 95
8 Risk Becomes Personalized 106
9 What You Don’t Know Can Destroy You: Ignorance and Correlated Risk 118
10 Risk, Incentives, and Culture 129
Part III Toward Improved Risk Practices 144
11 The Role of Risk in Strategy 145
12 Outcome Assessment of the Emerging US National Security Strategy 158
13 Principles of Effective Risk Management 175
14 Managing Uncertainty 188
Notes 206
Bibliography 231
Index 239

Produkt-Details

• Erscheint lt. Verlag: 18.5.2016
• Zusatzinfo: IX, 246 p.
• Verlagsort: New York
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Politische Theorie
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Vergleichende Politikwissenschaften
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
• Schlagworte: Behavioral Economics • Black Swan • Cognitive Bias • comparative politics • Defense • Finance • Financial Crisis • Risk • security • Strategy • Uncertainty
• ISBN-10: 1-349-91843-1 / 1349918431
• ISBN-13: 978-1-349-91843-0 / 9781349918430