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The Risk Management in Japan

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Added on  2021-05-30

The Risk Management in Japan

   Added on 2021-05-30

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RISK MANAGEMENT FAILURE OF JAPAN EARTHQUAKE & TSUNAMI
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BACKGROUNDJapan had witnessed a catastrophic natural calamity during 2011 which crippled the normal life of Japan with heavy loss of property and life (Olson and Wu 2015)As a result of that over 4 million buildings were ravaged and around 28,000 people were found missing or dead (Gonzalez-Riancho et al. 2015). The destruction of property was accounted over $300 billion which was about 4% of the GDP of Japan at that time (Suppasri et al. 2016).This was purely projected the failure of the risk management in Japan to get anticipation of the damaging capability of the disaster.
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StakeholdersIn this spectrum there is a bigger dimension of stake holders associated with the risk management of tsunami and earthquake in Japan.The country is divided into various kinds of stakeholders in terms of women, people with disability, senior citizens, environment and ecosystem, the people who were associated with the process of risk management.in reality there was an absence of possible stakeholders who were supposed to be played a pivotal role in reducing the damages from that mega disaster (Gibson et al. 2016).
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