Innovation:: managing complexity & reducing risk [Design News]


I was first aware of the author courtesy of this quote…that alarmingly few business ‘leaders’ appear to, either, believe or understand…

“In a complex system, learning how all the pieces—constant and variable—interact gives a depth of understanding that averts catastrophe. That is what we mean by human-centred design—understanding the interfaces among technology, people, communities, governments, and nature. This is what makes complexity manageable”.

If you are in the business of making money based upon the ability of another party to avoid financial loss, then your own ability to identify the properties that distinguish ‘good risk from bad’ is, SURELY, fundamental!? So the message that there is a means to gain “…understanding that averts catastrophe“, through “understanding the interfaces among technology, people, communities, governments, and nature” must surely be greeted with wide-eyed enthusiasm. Read more of this post

Need to build [or restore] customer trust?:: Corporations must join the Collaborative Economy


JO has nicely summarised what I have (unknowingly, in the beginning) been mapping-out in my mind as a viable alternative to the unsustainable model(s) adopted by the insurance industry and wider Financial Services industry. All I need now is to identify the ‘risk leaders’ of tomorrow. If that sounds like you, please get in touch.Adopt the Collaborative Economy Value Chain

Right now, customers are sharing media and ideas on social technologies, in the near future, they’ll use similar technologies to share products and services, which will cause a ripple of impacts far more disruptive than what we’ve seen before.

[The Collaborative Economy is an economic model where ownership and access are shared between people, startups, and corporations]

Report: Corporations must join the Collaborative Economy | Web Strategy by Jeremiah Owyang | Social Media, Web Marketing.

[Ontonix] Coping With Turbulence: More Theories and Math?


…math is often used to model things that cannot be modeled (in the sense that the results such models produce are mathematically correct but totally irrelevant). Risk, and especially the consequences of risk, are something that math is unable to embrace. This is because risk lacks a definition, a metric (standard deviation is NOT a measure of risk) and, most importantly, because it is a reflection of subjective human sentiments as to the potential level of regret after some hazardous circumstance has actually materialized. Now how do you measure that?

See on Scoop.itComplexity & Resilience
Author : Ontonix
See on www.interfima.org

Competitive advantage from new insights on customers, risks and business cycles – Bain & Co.


It isn’t rocket science to figure that, if we keep asking the same questions, using the same metrics and look for familiar patterns in data we won’t get new, better answers or identify new patterns!

Identifying, mapping, monitoring and managing causal relationships is a means by which carriers of financial/insurance risk can seize a considerable competitive advantage…from an informational advantage.

Ontonix enables organisations [insurers] to do just that…in real-time, if required!

So, instead of relying upon attempts to predict the unpredictable and reflexive, post-loss, analysis the opportunity exists for ‘crisis anticipation’. Our experience of working across a wide range of sectors – from healthcare to aviation, automotive and engineering design to banking – is that, our unique analysis can enable effective loss prevention. A, potentially, transformational development for firms involved in insurance risk transfer, investing for future returns or protecting against unknown (or unknowable) future events…so where are the ‘Risk Leaders’? Read more of this post

Complexity underpins the top business continuity issues for 2013


The failings &/or shortcomings of conventional risk management are known but still it’s acolytes continue to peddle their wares and ignore the inconvenient truth…

Complexity is a recognised source of risk that their tools and techniques CANNOT identify or address…but, if the understanding of the issues is growing amongst Risk Managers, surely, it can only be a matter of time before the ‘power’ of Ontonix tools becomes fully appreciated.

“…the risks we all face as we go into 2013 are much more complex, and thus much more difficult to counter,” says Michael Davies, CEO of ContinuitySA, Africa’s leading provider of business continuity services.

In what has become an annual exercise, Davies and members of his executive team met late in 2012 to review their predictions for the year and ponder what the coming year might hold for risk managers.

“What became very clear is it has become almost impossible to consider individual risks without taking the overall risk into consideration,” Davies observes. “Globalisation and the profound connectedness between individuals, companies and countries promoted by technology means that risk, too, must be seen broadly.”

Bearing this observation in mind, Davies and the ContinuitySA team have identified the following set of six interrelated risks for 2013….

Complexity underpins the top business continuity issues for 2013 | ITWeb.