Emerging Systemic Risks

Apart from that, the 21st century has also been abhorrent with a host of security threats and disasters in harrowing magnitudes, including terrorist attacks such as the September 11 attack on the US in 2001, and other major breakdowns of critical infrastructures due to cyber-attacks or technical failures making news headlines all over the world (Strzelecki, 2008).
Although various studies have documented the emerging risks, it should be noted that the world is dynamic and each day, new issues have to be encountered. The purpose of this research is twofold: to conduct an evaluation of the emerging risks as well as identify security management strategies deployed by these firms in coping with such risks
The study will employ a Qualitative research methodology, drawing on qualitative research methods such as library research, and desktop research to generate data and information regarding the present study that seeks to understand the emerging risks and security management strategies in the 21st century. It is hoped that the findings from this research will be helpful to various stakeholders including governments, business organizations, and scholars and researchers.
In the recent past, massive disasters have been realized and continue to be realized such as the huge flooding in some parts of Europe, emergency of infectious diseases, devastating bush fires in countries such as Australia and the ice storms in Canada among others. These aspects have made governments and the private sector to realize that something is happening. The emerging risks have the potential for inflicting immense damage on the infrastructure and systems upon which the economies and societies depend. Further, these emerging risks have created difficulties for traditional risk management strategies to work. It has also become a challenge for government entities and private sectors to effectively deal with the complex security threats of this century.&nbsp.Various researchers have conducted studies on the topic of “Emerging risks and security management strategies in the 21st century”.