Summary of The Power of Resilience

Looking for the book?
We have the summary! Get the key insights in just 10 minutes.

The Power of Resilience book summary
Start getting smarter:
or see our plans

Rating

8

Qualities

  • Applicable

Recommendation

Interdependencies within and between national economies make global and national systems – like financial networks or the world’s food chain – increasingly susceptible to disruption. A factory fire in one corner of the globe might create a supply chain domino effect – halting production of finished goods worldwide. MIT engineering instructor Yossi Sheffi warns that a breach of environmental standards by an obscure, deep-tier supplier might threaten the reputation of firms further up the chain. getAbstract recommends his forward-looking overview to leaders and risk managers – especially in large firms – who are building the response capability to deal quickly and effectively with disasters and disruptions.

About the Author

Yossi Sheffi teaches engineering systems at MIT and advises firms and governments on risk and supply chain management.

 

Summary

Risk

Organizations navigate an increasingly complex and interdependent world. Exports of goods and materials steadily rocket upward. Container ships carrying goods more than doubled their capacity from 1999 to 2013. Materials move between nations as sophisticated computer and communications networks extract inefficiencies from the system, lowering costs while heightening risk.

Risk exists throughout the supply chain. A final product often relies on tiers of providers scattered worldwide. Few end producers have visibility into the workings of their deep-tier suppliers. This leaves them, their customers and the economy vulnerable to natural disaster, acts of sabotage, network failure, labor issues, financial crises, political interference and cyberattack. With scant inventory due to made-to-order practices, a thin margin of error and many “moving pieces,” firms face exposure and risk. The global supply chain binds the world so closely that a large earthquake inflicts almost as much damage 10,000 miles from its epicenter as it does 10 miles away.

Japan, 2011

The 2011 tsunami in Japan caught governments and companies by surprise. A 9.0-level earthquake in...


More on this topic

Customers who read this summary also read

Political Risk
10
Disasters
9
The Price of Tomorrow
7
We Fed an Island
8
What Did We Know? What Did We Do?
8
Goliath’s Revenge
8

Related Channels

Comment on this summary

  • Avatar
  • Avatar
    A. U. 6 months ago
    Think out of box
  • Avatar
    M. J. 7 months ago
    Very well explained.
  • Avatar
    G. Y. 7 months ago
    Learned a new aspect of risk management & why preparedness is necessary for future.
  • Avatar
    R. P. 7 months ago
    Good to understand how Scenario Planning can Mitigate Risk. A good Read
  • Avatar
    R. B. 7 months ago
    Good insights on proactiveness and face eventualities.
  • Avatar
    R. B. 7 months ago
    Good insights on pro activeness and face eventualities.
  • Avatar
    S. K. 7 months ago
    Good to learn
  • Avatar
    H. M. 7 months ago
    Prepares you to face any eventuality in business or otherwise....Good to learn
  • Avatar
    M. T. 7 months ago
    Very good & relevant information.
  • Avatar
    P. P. 7 months ago
    Good Learning
  • Avatar
    S. K. 7 months ago
    Good Learning, The more you proactively detect disruptions, the better your opportunity to respond productively.
  • Avatar
    S. P. 7 months ago
    Good learning. Will help in overcoming the unexpected.
  • Avatar
    M. G. 7 months ago
    Good learning..!!
    Disruption is going to be the order of the day.
  • Avatar
    A. K. 7 months ago
    Good to know how important is preparedness to face any eventualities.
  • Avatar
    S. U. 7 months ago
    Good to note the various impacts of various disruptions world wide. Pro active measures, how they can help us overcome the losses. Nice article to understand the supply chain impact in various companies.
  • Avatar
    H. S. 7 months ago
    Very useful
  • Avatar
    A. N. 7 months ago
    Prepares you to face any eventuality in business or otherwise
  • Avatar
    S. S. 7 months ago
    It`s really helpful in transforming us into more resilient personality.
  • Avatar
    N. P. 7 months ago
    Very informative & useful
  • Avatar
    V. G. 7 months ago
    its worth learning as today every segment is interdependent so need to have plan for risk management to grow.
    very much relevant in todays scenario
  • Avatar
    D. S. 7 months ago
    Value addition
  • Avatar
    S. M. 7 months ago
    Very relevant in today’s scenario
  • Avatar
    P. U. 7 months ago
    Every Organization should Anticipate and prepare for disruptions well in advance .
  • Avatar
    A. B. 7 months ago
    Absolutely apt in today’s scenario. Good one
  • Avatar
    A. B. 7 months ago
    Absolutely apt in today’s scenario. Good one
  • Avatar
    A. M. 3 years ago
    good application