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This chapter evaluates the impacts of and response measures to COVID-19 pandemic on the practice of tourism in the wildlife conservancy model in Kenya thus proposing response interventions to possible tourism crises in the future.

The study uses the qualitative exploratory experience design and collects data from purposely selected conservancies' leaders and other documented materials from two main wildlife conservancies association in Kenya.

The chapter presents findings on the impacts of the COVID-19 pandemic on wildlife conservancy-based tourism, how conservancies responded to the pandemic and conservancy leadership perspectives on how to model future tourism and related activities in the conservancies based on the lessons they have learnt from the COVID-19 experience.

With the wildlife conservancy-based tourism model in Kenya being a relatively new phenomenon, the study provides important lessons for comparison with other such initiatives in other places in the event of tourism crises in the future.

This chapter argues that better preparedness to crises and uncertainties by various tourism types and models can help mitigate against adverse effects of similar uncertainties in the future. Consequently, the findings offer a glimpse of proposals and solutions to the wildlife conservancy-based tourism models that continue to be established in Kenya and in the region.

This chapter analyses the causes and effects of the financial crisis that commenced in 2008, and it examines the dramatic government rescues and reforms. The outcomes of this, the most severe collapse to befall the United States and the global economy for three-quarters of a century, are still unfolding. Banks, homeowners and industries stood to benefit from government intervention, particularly the huge infusion of taxpayer funds, but their future is uncertain. Instead of extending vital credit, banks simply kept the capital to cover other firm needs (including bonuses for executives). Industry in the prevailing slack economy was not actively seeking investment opportunities and credit expansion. The property and job markets languished behind securities market recovery. It all has been disheartening and scary – rage against those in charge fuelled gloom and cynicism. Immense private debt was a precursor, but public debt is the legacy we must resolve in the future.

In the economic literature, a crisis has been thematically defined around bank runs, failure of large financial corporations, and financial distress. Section 1 summarizes our learnings about international banking crisis, in terms of the origin and impact of such crises. This provides us an international benchmark before we delve deeper into India's banking distress, its size and trends. Section 2 focuses on the twin-balance-sheet crisis in India. On one side, corporate firms recklessly overleveraged, resulting in excess capacities and business diversification. On the other side, banks, both private and public, fell prey to excessive and procyclical credit lending and improper monitoring. Overall, too many projects were left too weakly monitored. Separately, we have focused on two subsections, first, how the financial institutions in India have overstretched their credit-disposal limit during market upturns. Second, we found absence of any theoretically grounded approaches to determine the capital-adequacy ratios (CARs) for the banks. In Section 3, we have identified the steps taken so far by the Banking regulator and the Government to resolve the crisis. Further, we critically examine the role of Korea Asset Management Corporation (KAMCO) towards a successful non-performing assets (NPAs) resolution in South Korea. Few key takeaways include, (1) establishing a public asset-management company (AMC) focused on maximization of recoveries and resolution of stressed assets, (2) well-defined governance structure for the AMC ensuring it works on market principles, shielded from political interferences, and (3) realistic asset valuation and transfer price that ensures limited downside risks for the public AMC.

In this chapter, we view team cohesion from a more generalized perspective of team dynamics, and focus on four leadership models for understanding these dynamics in teams in the context of the Mars Mission. Given the long duration of the mission with periods of no or intermittent communication and support, isolation and confinement, and the risk of great physical and psychological harm, having tailored leadership models for this unique team dynamics context is critical. And yet, many of these same dangerous conditions occur in other contexts such as for first responders, crisis management teams, Special Forces operations, and scientific exploration teams in extreme environments. As such, building from a model of leadership and team dynamics for dangerous contexts, for a long-duration space mission involving both Mission Control and the Astronaut Crew, these models of leadership and team dynamics include a collective-level approach for scientists and engineers, a primarily crew-based socioemotional approach, a leader-level crisis/emergency approach, and a dyadic or sortie-level approach. Implications of these models for effective leadership in building and maintaining team dynamics and cohesion for the Mars Mission and across a variety of other dangerous and extreme contexts are discussed.

The phenomenon of crisis – of all kinds and at all levels – provides abundant material for study in disciplines centered on the human being. The twentieth century’s complex landscape provides valuable elements for developing a “morphology of crisis,” where crises of all types can be identified, including personal, family, social, economic, ethical, scientific, philosophical, and historical ones. The broad range of crises that exists today requires further study to better understand the concept, and Reinhart Koselleck offered perhaps the most significant interpretative keys for such a task. In his work, Critique and Crisis (1954), Koselleck developed a particularly lucid theory of crisis. His vast historical erudition, steeped in a philosophical quest, offers contemporary readers an approach to the issue of crisis, elucidating its most relevant requirements and challenges.

This chapter studies the historical use of the word crisis, aiming to better understand both the term and whether or not it preserves the concept’s invariable foundation and transversal elements, namely the experience of time as a turning point between the past and future, the need for judgment to guide the development of a particular situation, and a decision that gives shape to a new state of affairs.

This analysis is not just limited to understanding Koselleck’s account of the crisis concept; it also tests and addresses its internal structure. The description of the diversity of crisis phenomena at the beginning supports assessment of the illuminating power of Koselleck’s concept of crisis.

The experience of the 1990s renewed economists’ interest in the role of credit in macroeconomic fluctuations. The locus classicus of the credit-boom view of economic cycles is the expansion of the 1920s and the Great Depression. In this paper we ask how well quantitative measures of the credit boom phenomenon can explain the uneven expansion of the 1920s and the slump of the 1930s. We complement this macroeconomic analysis with three sectoral studies that shed further light on the explanatory power of the credit boom interpretation: the property market, consumer durables industries, and high-tech sectors. We conclude that the credit boom view provides a useful perspective on both the boom of the 1920s and the subsequent slump. In particular, it directs attention to the role played by the structure of the financial sector and the interaction of finance and innovation. The credit boom and its ultimate impact were especially pronounced where the organization and history of the financial sector led intermediaries to compete aggressively in providing credit. And the impact on financial markets and the economy was particularly evident in countries that saw the development of new network technologies with commercial potential that in practice took considerable time to be realized. In addition, the structure and management of the monetary regime mattered importantly. The procyclical character of the foreign exchange component of global international reserves and the failure of domestic monetary authorities to use stable policy rules to guide the more discretionary approach to monetary management that replaced the more rigid rules-based gold standard of the earlier era are key for explaining the developments in credit markets that helped to set the stage for the Great Depression.