Resilience Is Much More Than Risk Management

Resilience Is Much More Than Risk Management

Risk management does not reliably make your business or organization resilient. It aims at reducing the likelihood of and damage from foreseeable and probable risks. Resilience is very different. Resilience assumes that damaging impacts, foreseen and unforeseeable, will occur regardless of our risk minimization efforts. It aims at ensuring that the organization can survive almost anything that comes along, regardless of likelihood, and that it will ultimately succeed and prosper. Very different management objectives.

How To Avoid Finding Out Your Business Resilience The Hard Way

How To Avoid Finding Out Your Business Resilience The Hard Way

At long last things are getting back to normal. Masks mostly gone. Distancing mostly gone. Occupancy limits mostly gone. Huge numbers vaccinated. We are back on the road to serious economic recovery, yes? Well, such hope is nice but reality is rarely nice. What if reality is still in charge? How vulnerable is your business to the next black swan or even lesser hits? How much might not knowing cost you?

Planning for the Unforeseeable and Improbable

Planning for the Unforeseeable and Improbable

Biggest threats to businesses today are not those that are likely or identifiable but instead those that are unknown and/or highly unlikely. However, the available points of impact on your business are both evident and certain. Big question: which of your points of impact are most vulnerable to such events or situations, whatever they may turn out to be?

Specialization Can Be Deadly Today — Diversify to Ensure Long-Term Survival

Specialization Can Be Deadly Today — Diversify to Ensure Long-Term Survival

Being among the best at something in business works great in stable times but can be fatal in black swan times. It seems that black swan times are with us for some unforeseeable period so specialization has become a serious vulnerability. The solution here is diversification – adding business units that are not likely to be impacted in the way that your core business can be.

Are You Maxed Out Yet?

Are You Maxed Out Yet?

I am reading so much today about people, especially businesspeople, who are feeling overwhelmed by this increasingly complex and incomprehensible world. While this is understandable, it may actually be a good thing if it motivates constructive action. We look here at some positive ways to turn being “maxed-out” into successful adaptation and action.