Unpredictable and unforeseen, or black swan, events are occurring
increasingly often, one such recent example is the coronavirus crisis
of 2020. The Fourth Industrial Revolution, with its growing use of
artificial intelligence, intelligent robots, intelligent informats and
intelligent algorithms, may help us to confront these incidents but
only if we can avoid the sector optimization logic of some forms of
economic thinking. This book offers a multi-faceted presentation of
the application of systemic thinking in non-standard situations,
especially those created by the fourth industrial revolution. It
develops models and mini theories to promote systemic thinking at a
time when cascades of innovations are entering the economy, while at
the same time black swan events are occurring and disrupting social
systems. It takes a critical look at how organizations and social
systems have chosen to organize themselves to develop systems that
prioritize high performance, by focusing on cost-cutting and
maximizing profits, instead of on preparedness elasticity and resource
slack. The consequences of this kind of organizational streamlining
becomes evident only when the ‘black swans’ loom. The author
discusses how individuals and society can develop the resilience
needed to deal with these incidents. He asserts that there are three
central social mechanisms that can help us understand how social
systems work and how they are interconnected: time-lag, threshold
value, and feedback. These three concepts can help us to understand
how changes occur in non-linear systems; for instance, how small
changes at the micro level can lead to large changes at the macro
level. This book will be of interest to researchers, academics and
students in the fields of economics, finance, business and industry.
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Produktdetaljer
ISBN
9781000571226
Publisert
2022
Utgave
1. utgave
Utgiver
Taylor & Francis
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter