Natural disasters such as earthquakes

Natural disasters such as earthquakes, floods and storms are occurring more frequently and prevalently due to intensified population growth and urbanisation. Few significant natural disasters that happened globally have portrayed the severity and disruptions that leads to business failure and organisation crisis. More businesses are adversely affected by natural disaster leading to severe consequences and impacts on the economy. Although public interest and awareness of natural disasters has been increasing, the progress on mitigation plan for natural disaster and crises have not been up to date and many businesses struggle to cope when a disaster occurs. This is because disaster mitigation plans and strategies are not emphasised in the planning of economic development and study of disaster impact are not well structured (Ibarrara┬┤n, Ruth, Ahmad, & London, 2009). Besides, disaster impact evaluations on small countries that are widely affected by natural disasters such as New Zealand are very scarce, so there are only very limited research options that could be found to support the disaster mitigation plan.
The Canterbury earthquakes have particularly highlighted the importance of organisational and business resilience as well as fragility of New Zealand’s economy to natural disasters. (Wang, 2012). The earthquake in February 2011 was one of the greatest natural disaster in New Zealand in the past eighty years that has led to extreme disruption to the local businesses and local community (Giovinazzi et al., 2011).