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Tornado-Ravaged Hospital Took Storm-Smart Approach During Rebuild - Risk & Compliance Journal.
Aug 30, 2017 | WSJ | By Ben DiPietro.

...................“Preparation for what these events can be–and belief they can actually happen–is important so you make sure you are preparing for them,” ....trying to undertake whatever is your organizational mission in the midst of a tornado or other devastating event is much harder, given the high emotions and stress that manifests itself at such moments.

“Understand the possibilities and pre-planning will make that go a lot better,”

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As Hurricane Harvey has shown, extreme weather events can devastate a region’s infrastructure. Hospital operator Mercy had its own experience of this in 2011 when a tornado ripped through Joplin, Mo., killing 161 people and destroying its hospital.

Hospital operator Mercy took the lessons it learned from that tornado experience and incorporated them into the design of the new hospital–and also changed the way it plans and prepares for disasters. The new facility reflects a careful risk assessment, as Mercy took into account not only the physical risk of tornadoes but the risks to power supplies and medical supplies.

“We always prepare, always have drills for emergencies, but you never quite can prepare for losing an entire campus,” ....“Now we are preparing for that…it definitely changed the way we look at emergency management.”

** Protecting What Matters Most **
Mercy took the lessons it learned from that devastating weather event and applied them when it was time to build its latest hospital, which was constructed in a way to better withstand tornadoes while providing more secure systems infrastructure and adding backup systems to ensure operations continued unimpeded, ......Even the way medical supplies were stored was changed; instead of storing supplies in the basement, where they were inaccessible in the immediate aftermath of the tornado, they now are kept on each floor so staff don’t need to go hunting around for things they need during an emergency.....“The first priority is to save lives, the second is to minimize damage to the facility,”

** Focus on the Worst **
many companies worry about low-severity, high-frequency events–those things that happen a lot. They instead need to focus more on high-severity events that can cause a company to impair its resilience. “....identify and work on a worst-case scenario and make sure it is understood and the company is financially prepared for it,”

work with its key vendors and suppliers to know what each will do in the face of a disaster or unexpected disruption. “...large companies [should] know their key vendors prior to any major incidents,” ...“Vendors become partners at that time and you need to know people will do what you need them to do.”

A company needs to assess what is most important to its operations, map who their vendors are in those areas and engage them in various loss scenarios .... It should review its insurance policy language against possible weather events, identify any gaps and either revise policies to fill those holes or to at least make sure executives understand what the risks are of leaving those gaps unattended.
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See also :
What to Do Before Disaster Strikes - WSJ.com ☑
September 27, 2005 | WSJ | By GEORGE ANDERS.
start by cataloging what could go wrong. GM, for example, has created "vulnerability maps" that identify more than 100 hazards, ranging from wind damage to embezzlement. Such maps make it easier for managers to focus on areas of greatest risk or gravest peril.
low_probability  disasters  Hurricane_Harvey  extreme_weather_events  hospitals  tornadoes  design  rebuilding  preparation  emergencies  lessons_learned  worst-case  natural_calamities  anticipating  insurance  vulnerabilities  large_companies  redundancies  business-continuity  thinking_tragically  high-risk  risk-management  isolation  compounded  network_risk  black_swan  beforemath  frequency_and_severity  resilience  improbables  George_Anders  hazards  disaster_preparedness  what_really_matters 
september 2017 by jerryking
Inside Sequoia Capital: Silicon Valley's Innovation Factory - Forbes
George Anders ,   CONTRIBUTOR
I write about innovation, careers and unforgettable personalities.

This story appears in the April 14, 2014
Sequoia  Silicon_Valley  profiles  Michael_Moritz  hustle  Doug_Leone  George_Anders 
july 2016 by jerryking
I Think I Can, I Think I Can... - WSJ.com
March 12, 2007 | WSJ | By GEORGE ANDERS.
Successful entrepreneurs believe they can make a lot of money, even when they don't. But can that confidence be taught?

We had one of those prodigies in our high school. Andy was clever, funny -- and constantly in trouble with the principal. His grades were mediocre, but he made a lot of money (and provided jobs for the rest of us) by running a snack bar on site that sold hundreds of candy bars a week.

Within a decade of graduation, Andy was making more than $1 million a year as a commodity trader in Chicago. Ever since, he has been a major player in the capital markets, creating firms and darting into new trading areas. Meanwhile, classmates with much better grades have opted for the safe obscurity of a windowed office inside a major law firm.
confidence  entrepreneurship  inspiration  parenting  traders  commodities  capital_markets  George_Anders 
august 2012 by jerryking
The Top 10 Trends in 10 Industries - WSJ.com
February 9, 2004 | WSJ | By GEORGE ANDERS.

The Top 10 Trends in 10 Industries
How do trend spotters find what they're looking for? They keep their eyes open...read voraciously and brainstorm with colleagues. Travel to hot spots of innovation, or just a few miles down the road. The ultimate goal is the same: to find the latest business trends with staying power. That's because their long-term professional success -- just like that of countless other executives -- depends on being early and accurate trend spotters....Some trend spotters rely on obscure journals, others on key groups of people they think are ahead of the curve. Some pore over data, others follow the money...."It's important at the top levels of an organization to spend time looking for big new ideas," "Farther down, people aren't going to have as much time to break away from the daily demands of their jobs to do this. But good leaders should help set a culture where this intuition about what's next is rewarded."....Distinguish between valuable trends and embarrassing fads.
trends  industries  idea_generation  trend_spotting  Accel  boring  Jim_Breyer  hotspots  discernment  fads  ahead_of_the_curve  George_Anders 
may 2012 by jerryking
What to Do Before Disaster Strikes - WSJ.com
September 27, 2005 | WSJ | By GEORGE ANDERS.

What's missing is a systematic way of approaching corporate self-defense. Each potential calamity is treated in isolation....Sheffi believes that companies need to start by cataloging what could go wrong. General Motors Corp., for example, has created "vulnerability maps" that identify more than 100 hazards, ranging from wind damage to embezzlement. Such maps make it easier for managers to focus on areas of greatest risk or gravest peril. He implies that normal budgeting -- which matches the cost of doing something against the risk-adjusted cost of doing nothing -- can determine which battles against vulnerability are worth fighting....Mr. Sheffi nods approvingly at some ingenious ways to mobilize for trouble before it arrives. Federal Express Corp., he says, puts two empty planes in the air each night, just so they can swoop into any airport with a grounded plane and take over delivery services as fast as possible. Wall Street firms have recently added similar redundancy with multiple data centers, so that a New York City crisis won't imperil their record-keeping.

Intel Corp. (post-Heathrow) gets a thumbs-up, too, for finding a sly way of outwitting airport thieves. It couldn't control every aspect of security in transit -- but it could change its box design. Rather than boast about "Intel inside," the company switched to drab, unmarked packaging that gave no hint of $6 million cargoes. The name for this approach: "Security through obscurity." (jk: security consciousness)
disaster_preparedness  risk-management  book_reviews  mapping  security_&_intelligence  redundancies  vulnerabilities  rate-limiting_steps  business-continuity  thinking_tragically  obscurity  cost_of_inaction  base_rates  isolated  GM  Fedex  Intel  risk-adjusted  self-defense  Wall_Street  high-risk  budgeting  disasters  beforemath  risks  George_Anders  catastrophes  natural_calamities  systematic_approaches  security_consciousness  record-keeping  hazards 
may 2012 by jerryking
Manufacturers Branch Out Into Services - WSJ.com
JUNE 22, 2009 | Wall Street Journal | by STEPHEN W. BROWN,
ANDERS GUSTAFSSON And LARS WITELL. Companies in a range of fields are
branching out into services to stay competitive. The benefits: necessity
for differentiation, achieving a regular stream of income, a lower
requirement for fixed capital investment, the ability to leverage
existing products, brand image and customer base, opp. to build loyalty.
Selling services isn’t easy.
products  services  manufacturers  post-manufacturing  George_Anders 
june 2009 by jerryking
The Secrets of the Talent Scouts - NYTimes.com
March 14, 2009 | NYT | By GEORGE ANDERS dedicated to the early
end of the talent management process: spotting/scouting and recruiting.
Lessons learned: take chances on passionate people early in their work
lives, focus on what can go right, offer rewards no one else can match
and harness the lessons of your own career.
talent_management  lessons_learned  recruiting  talent_acquisition  spotting  scouting  hiring  Michael_Moritz  George_Anders  talent_scouting 
march 2009 by jerryking

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