Natural Disasters - McGraw-Hill Introduction to Business

Estimating the Economic Impact of Hurricane Harvey

August 29, 2017

Over the weekend Hurricane Harvey landed in South Texas and began a cycle of major flooding that overwhelmed residents and emergency services. With thousands of people remaining in Houston and its surrounding communities during the storm, first responders spent a lot of time bravely searching for victims and pulling them out of the water. Media outlets then broadcast some of these stories to a shocked American public, leading to an outpouring of support and donations. (Click here for information on Continue reading →

Hurricanes, Operations Management, Ethics, Natural Disasters, Risk Management, Hurricane Harvey

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Bonus Chapter C: Managing Risk

World Bank: Natural Disasters Cost More than $500 Billion Annually

March 3, 2017

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From tsunamis to earthquakes to hurricanes, each year natural disasters strike all across the world and leave devastation in their wake. In the immediate aftermath of these catastrophes, ensuring people’s safety is the number one priority. As a community starts to recover from a disaster, however, their thoughts turn towards rebuilding and returning to normalcy. Still, this isn’t such an easy task to accomplish. Natural disasters can destroy infrastructure and buildings that take millions of dollars and months of time Continue reading →

Risk Management, Global, World Bank, Ethics, Insurance, Natural Disasters

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter C: Managing Risk

Assessing Severe Weather Damage with the Waffle House Index

October 10, 2016

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As of this writing, Hurricane Matthew is currently roaring up the Carolina coast. (Hopefully anyone from the area reading this post is doing so in a safe, relatively dry place.) Federal and state officials flooded social media and television urging residents to evacuate the area before the cyclone hit land. Nevertheless, some people ignored their warnings and stayed put. In most cases, the diner chain Waffle House would be among these stubborn stragglers. The company has an official policy in Continue reading →