Practice without sound theory will not scale


Dave Snowden, “Practice without sound theory will not scale“. Simple.

Although I, broadly, agree with Dave Snowden, given what we know, I am more inclined to the view that a complex system is, well, just that. And, at any given time, is in a variety of ‘states’ across scales and processes.

MY primary concern is the lack of “sound theory” in Financial Services, particularly in insurance. As an industry we have become used to flogging insurance ‘protection’ products without really taking the time to see the bigger picture. Hopefully a viable alternative isn’t too far away…

Resilience product

This is not all original thought…

If you aren’t familiar with the term Panarchy or the Panarchic Cycle, these graphics may help:

Panarchy (nested adaptive cycles) Adaptive Cycle Stages Panarchy diagram Nested panarchy

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