This study aims to align the objectives of key stakeholders by developing an integrated framework for high-impact natural disaster risk management. High-impact natural disasters have emerged as one of the most challenging policy issues.
The authors have applied the thematic text analysis for analysing the list of questions essential to develop an integrated framework. For theory, the authors have used the theoretical framework of collaborative governance.
The current work explains how to identify key stakeholders. Furthermore, it describes the framework to fit stakeholders' actions into the actionable components of risk management. Additionally, this framework also helps the firms that fall under the category of the industries “in the proximity of risks” and “the support industries” in modifying their role in the context of natural disaster risk.
The limitation of this framework is that the authors relied on commonly occurring natural disaster risks to develop the framework. Therefore, risk-specific aspects are less likely to be thoroughly covered in this framework. However, this limitation is not directly impacting the goal of this study. Additionally, in the future more comprehensive framework with the additional element in the existing framework can overcome these limitations.
The findings of the study offer insights that can be useful for policymakers in developing various preventive strategies. Managers can use the results and align their objectives with policy goals.
Socially, if communities try to design local risk management strategies, this framework would be helpful.
This study illustrates the role of objective alignment in high-impact risk management. This study is crucial in extending current knowledge on high-impact natural disaster risk management.
