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The theme of resilience in "Rogue Waves" is highly relevant to contemporary business issues and debates. In today's volatile and uncertain business environment, resilience is key to survival and success. The book discusses how businesses can prepare for and profit from systemic threats, which are becoming increasingly common. It emphasizes the importance of managing overall project risk rather than individual experiment risks, and creating a spread of experiments with varying impacts and success rates. This approach fosters resilience by enabling businesses to adapt and respond effectively to unexpected events or "black swan" events like pandemics or financial crises.
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When you set a budget, consider each experiment's impact on the overall portfolio's long-term optionality, near-term impact, resilience and performance. Your financial goal must be to manage overall project risk instead of individual experiment risks. Create a spread of experiments with high and low impact and high and low success rates. Have clear rules for when to initiate experiments and when to stop them.
Asked on the following book summary:
How do you prepare your business for black swan events like pandemics or financial crises? Rogue Waves by Jonathan Brill explores how to prepare for a...
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