How can a business build an indicators dashboard?

A business can build an indicators dashboard by first identifying the key factors that could impact their business. These could be economic, technological, or social trends. Once these factors are identified, the business should then determine the risks and opportunities associated with each factor. This can be done using a risk modeling framework such as the FOES Framework, which considers Financial Risk, Operational Risk, External Risk, and Systemic Risk. The business should then determine their response window, which is the period between the earliest time the changes can be detected and the latest time a response can be effective. The indicators dashboard should be designed to monitor these factors and risks, and alert the business when action needs to be taken.

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What are some other factors that could create the next rogue wave for businesses?

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Some other factors that could create the next rogue wave for businesses include political instability, changes in market trends, shifts in consumer behavior, financial risks, operational risks, external risks, and systemic risks. It's also important to consider the impact of emerging technologies and demographic changes. Training junior staff to identify these risks and building an indicators dashboard can also help businesses prepare for these potential rogue waves.

How can changes in consumer behavior due to these undercurrents be predicted?

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Changes in consumer behavior due to these undercurrents can be predicted by identifying the top ten economic, technological, and social undercurrents that could impact your business. For each of them, list the high impact changes in politics, markets, and consumer behavior they could cause. After you have listed the significant undercurrents relevant to your business, identify the risks and opportunities they could create. Your junior staff, being closest to ground reality, can be trained to keep a lookout for the right issues and organizational mechanisms can be installed to ensure warnings are heeded.

What are some other emerging technologies that could impact businesses?

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Some other emerging technologies that could impact businesses include Artificial Intelligence (AI), Machine Learning (ML), Blockchain, Augmented Reality (AR), Virtual Reality (VR), and Robotics. These technologies are revolutionizing various industries by automating processes, enhancing customer experiences, and creating new ways of doing business.

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Rogue Waves

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