Page 23 - IRMSA Risk Report 2020

WE NEED T O THINK ABOUT OUR FUTURES
WITH IM A GINATION , EMP ATH Y AND A GENC Y.

Albert Einstein said “Imagination is more important than knowledge. For knowledge is limited whereas
imagination embraces the entire world, and all there ever will be to know and understand”.

As a risk manager, I have learnt that a key foundation to effective risk management is the collective
experience of the leaders in an organisation. i.e. you need a team that has been around the block a
couple of times. But sometimes that experience is a filter that holds us back, making us risk averse or
lacking the imagination of an opportunity unseen. Wim Wendors aptly coined the term “monopoly of
the visible” in that we as society take things more seriously when we can or have seen something.

The cynic in us would argue that having been weaned on a diet of instant gratification, we have
reduced our once fertile imaginations with deserts filled with brainwashed feeds of Instagram and
tweets, our time so engrossed with the business of today we have lost the ability to use a vision of the
future as an anchor. It may be more nuanced than that. Given the accelerating rate of change, reality is
fast outpacing our vision.

The world is an amazing place – we have news, services and products available at the press of a
button. With “predictive everything” we can even bypass thinking – see something, click and it is yours.
Technology has allowed us access to the world yet made our definition of communities smaller – we
have the power to cut ties with anyone – choosing to surround ourselves with echo chambers that
don’t make us uncomfortable. Focused on living your best you, we can have chosen for us our own
reality. And why not – South Africa is a scary place and everywhere we look crime, grime and looting
abounds. Reinforcing our belief that governments are incompetent, the private sector is filled with
miscreants, communities are broken, and nature is punishing us. So, amidst all the pain and angst - we
build buffers. Living everyday as passive spectators because “well, we can.” It is time for ordinary South
Africans across all walks of life to understand their leadership roles where they work and live, and to take
accountability to realise our common purpose. And reap the rewards coming with the joy and passion
that being invested in something, caring deeply about something. Caring is the springboard for action.

The 2020 risk report aligns to two themes – Vision and Action. For vision you need imagination and for
action you need to care beyond short term comfort. The report highlights possible scenarios, not to
overwhelm us or create paralysis and a sense of doom, but to create possible futures that we can all
work towards whilst acknowledging the consequences of past decisions or lack of decisions. The role
of risk managers is to assist organisations in seeing a longer-term view, seeing possibilities, giving much
needed time to proactively craft and implement solutions. Much of what we do as risk managers is in
providing frameworks of foresight, influencing decisions and judgements. Building on a quote from
author Bina Venkataraman - We need to think about our futures with imagination, empathy and agency.

BERENICE FR ANCIS
PRESIDENT
THE INSTITUTE OF RISK M ANA GEMENT
SOUTH AFRIC A

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