Business & Risk Management:: redefining ‘steps to success’

English: This is a visual, organizational map ...

English: This is a visual, organizational map of complex systems broken into seven sub-groups. (Photo credit: Wikipedia)

You may fully understand the products and services that your business supplies, even: how it operates – it’s many complex processes; who it’s key personnel, suppliers and customers are; it’s finances; be ‘sensitised’ to the early signs of (ever-present) opportunities and threats in the marketplace and; be well practised in the application of the tools and techniques of management BUT, here is the bad news: ALL OF THAT MAY STILL NOT BE ENOUGH, particularly if underlying theories or organisational structure are sources of unidentified and (therefore) unmanaged risk!!!

I have written plenty on the subject in an effort to convey the message that each business is wasting valuable resources to treat the symptoms of what WE have created and keep adding to [unintended consequences] at an ever-increasing pace whilst failing to address the root cause.

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When it comes to being trained or gaining a hands-on understanding of business management I doubt that much thought ever went into considering the 2nd Law of Thermodynamics!? But, then again, much of what is still taught (and therefore understood) about business management requires such a radical change of mindset (&/or revisiting cybernetics/VSM) that only something akin to transformation will suffice. Because business in the Digital Age has changed…permanently!

The nature and scale of change, over the last half century, has been dramatic. The inter-connectedness and pace of change has accelerated during the last decade. Yet, we continue to take so much for granted that we have kept faith with tools and techniques that lack the requisite variety to deal with the business systems they are intended for. Furthermore, Business Management, like Risk Management, Actuarial science and Economics, were never sufficiently rigorous to be considered as remotely scientific. A point that has been illustrated time and again but, unsurprisingly, practitioners find the facts somewhat difficult to accept. Hence the business as usual mentality with the ongoing problems it creates! Read more of this post