Featured Scholar: Philip L. Cochran, Ph.D.
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Thomas W. Binford Chair of Corporate Citizenship
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Professor of Management, Kelley School of Business, Indiana University
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Affiliate Professor of Philanthropic Studies, Lilly Family School of Philanthropy, Indiana University
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Adjunct Professor of Health Policy and Management, Richard M. Fairbanks School of Public Health, Indiana University
Covid-25: Preparing for the Next Black Swan
Professor Philip Cochran's current research focuses on how organizations do and should respond to types of major crisis that are often referred to as “Black Swans”. Black Swans are extremely rare events with severe consequences. There are many other potential Black Swans. A current example of a Black Swans is the one we’re in right now and that is the COVID-19 pandemic. This historically happens once every 100 years. Right now, about 900,00 Americans have died of COVID-19. The 1918 Flu, which was the previous global pandemic, killed about 680,00 Americans and about 50 million people worldwide. This is about twice as many as people that died in all of World War I. Other examples of Black Swans include major supply chain disruptions such as the recent blockage of the Suez Canal which had global repercussions. Nuclear accidents like the Fukushima Nuclear Meltdown that led to major crisis in Japan and a crisis with nuclear power all over the world. The tsunami that triggered that meltdown was a 1 in 1,000-year tsunami that government leaders simply were not ready for. Black Swans can also be major weather events such as Hurricane Katrina or Superstorm Sandy. Those usually occur once every 20 years. Black Swans can also be blizzards. The United States of America has not had a major blizzard in over 100 years. Black Swans also include floods, droughts, volcanic events, earth quakes, nuclear wars, and solar flares. The last time a major solar flare hit the planet was in 1859 during the Carrington Event in which the Northern and Southern lights were visible from the equator. The next time a solar storm occurs, it will probably fry most of our computers, electronics, cell phones, and automobiles rendering them nonfunctional and unrepairable. According to the Federal Emergency Management Agency (FEMA), that will probably set the world back technologically to the 1880’s.
Professor Cochran's translation of research into understanding why society ignores Black Swans and how successful organizations can respond to them is another excellent example of how IU Indianapolis's faculty members are TRANSLATING their RESEARCH INTO PRACTICE.
Selected Publications in IU Indianapolis ScholarWorks
With several research works contributed to IU Indianapolis's free, open access repository, Professor Philip Cochran has made translational research knowledge available to professionals, researchers, students, and communities around the world.
Philip L. Cochran, Carol A. Madison, and E. James Flynn. (2010, April 9). TOBIAS CENTER FOR LEADERSHIP EXCELLENCE. Poster session presented at IU Indianapolis Research Day 2010, Indianapolis, Indiana. https://hdl.handle.net/1805/11295
Magid, J. M., Tatikonda, M. V., & Cochran, P. L. (2009). Radio frequency identification and privacy law: An integrative approach. Am. Bus. LJ, 46, 1. https://hdl.handle.net/1805/26095
Baucus, M., & Cochran, P. (2009). An overview of empirical research on ethics in entrepreneurial firms within the United States. African Journal of Business Ethics, 4(2), 56–68. https://hdl.handle.net/1805/8333
Weaver, G. R., Trevino, L. K., & Cochran, P. L. (1999). Corporate ethics programs as control systems: Influences of executive commitment and environmental factors. Academy of Management journal, 42(1), 41-57. https://hdl.handle.net/1805/26098
Weaver, G. R., Trevino, L. K., & Cochran, P. L. (1999). Integrated and decoupled corporate social performance: Management commitments, external pressures, and corporate ethics practices. Academy of management journal, 42(5), 539-552. https://hdl.handle.net/1805/26096
Cochran, P. L., Wood, R. A., & Jones, T. B. (1985). The composition of boards of directors and incidence of golden parachutes. Academy of Management Journal, 28(3), 664-671. https://hdl.handle.net/1805/26100
Wartick, S. L., & Cochran, P. L. (1985). The evolution of the corporate social performance model. Academy of management review, 10(4), 758-769. https://hdl.handle.net/1805/26099
Wartick, S. L., & Cochran, P. L. (1983, August). Golden Parachutes: Contests, Issues and Trends. In Academy of Management Proceedings (Vol. 1983, No. 1, pp. 359-363). Briarcliff Manor, NY 10510: Academy of Management. https://hdl.handle.net/1805/26103
Cochran, P. L., & Wood, R. A. (1984). Corporate social responsibility and financial performance. Academy of management Journal, 27(1), 42-56. https://hdl.handle.net/1805/26102
Cochran, P. L., & Wartick, S. L. (1984). “Golden Parachutes”: A Closer Look. California Management Review, 26(4), 111–125. https://hdl.handle.net/1805/8334