Page 82 - IRMSA Risk Report 2020

T H E B A L A N C E B E T W E E N F I N D I N G “ T H E R I G H T A N S W E R S ”
A N D “ R E S P O N D I N G Q U I C K LY ”

When making decisions, the focus was more often on having the right answers or solutions than on responding quickly.

I
THIS COULD BE PROBLEMATIC N VUCA ( V O L I T I L E , U N C E R T A I N , C O M P L E X A N D A M B I G I O U S )
ENVIRONMENTS WHERE THERE OFTEN ARE NO RIGHT ” ANSWERS; ORGANISATIONS MAY BE P AR ALYSED BY
“
L
NOT HAVING ENOUGH NFORMATION TO MAKE THE RIGHT DE CISION, OSING THE WINDOW TO AC T WITH
I
IMPAC T.
ORGANISATIONS NEED TO DE VELOP HEURISTICS AND RITUALS THAT COUNTER PAR ALYSIS FROM THE
I
NAT-U RAL ANXIE T Y TH AT ARISES N GREAT UNCERTAINT Y ( BY ACCEPTING THAT THERE S NO ONE RIGHT
I
PL ACE T O START OR END AND TAKING THE NEX T FIT-FOR-CONTEXT AC T ION THAT MAKES SENSE IN THE
“HERE AND
NOW ”).
FOCUS

DENSIT Y

BEING RIGHT < ----- ----- > BEING QUICK

H O W W E R E R I S K S A N T I C I P AT E D A N D R E S P O N D E D T O ?

In the stories told, what could go wrong was usually pointed out. When it was hidden, it contributed to disastrous

outcomes. Almost a third of the respondents felt that their story needed a better focus on prevention; a third was split
between better anticipation and execution of actions to respond to the risk; whilst the last third thought more than one
of these aspects needed improvement.
INCOMPLEX SYSTEMS NOT ALL RISKS CAN BE ANTICIPATED (E.G. UNKNOWN UNKNOWNS).
ESTABLISHING SITUATIONAL AWARENESS THAT DRIVES AC TION IS ESSENTIAL IN A VUCA
ENVIRONMENT. THE EFFEC TIVE MANAGEMENT OF RISK INCREASINGLY DRIVES A BLURRING OF TIMEFR
AMES BE T WEEN ANTICIPATION, PREVENTION AND ACTION EXECUTION.
PRE VENTION

ANTICIPTATION A C TION EXECUTION

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