Understanding social amplification of risk : possible impact of an avian flu pandemic
Author(s)Sundrani, Aamir (Aamir Sultan)
Leaders for Manufacturing Program.
Charles L. Cooney and Kimberly M. Thompson.
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Today, stakeholders expect organizations to be able to endure external shocks. Hence, the real potential of an avian flu pandemic has many corporations developing business continuity plans for the disruptions that a pandemic may cause. For the pharmaceutical/biotechnology industry, the major concerns of a pandemic include high employee absentee rates, lack of accessibility to the medical facilities, and disruption to the product supply chain. This work introduces social amplification of risk theory to evaluate the potential impact of a pandemic to a business due to heightened fear. It uses a case study of Genzyme Corporation and evaluates pandemic related risks to two of its major products. By applying a system dynamics framework to evaluate the mechanisms for the amplification of risks, a solution is proposed. The lessons introduced in this work can help organizations evaluate the true risks of catastrophic events.
Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division; in conjunction with the Leaders for Manufacturing Program at MIT, 2007.Includes bibliographical references (p. 71-75).
DepartmentSloan School of Management.; Massachusetts Institute of Technology. Engineering Systems Division.; Leaders for Manufacturing Program.
Massachusetts Institute of Technology
Sloan School of Management., Engineering Systems Division., Leaders for Manufacturing Program.