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A retail company can apply the innovative approaches discussed in Rogue Waves to prepare for systemic threats by first conducting reconnaissance to identify known and unknown factors that could impact their business. This could include new technology, unexpected competition, or shifts in geopolitics. Once these factors are identified, the company can then collect evidence and decide on a standard of proof to validate these factors. By doing this, the company can better understand potential threats and prepare for them accordingly. Additionally, considering counterfactuals or 'what-ifs' can help the company brainstorm possible unknown unknowns and expand their problem understanding.
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Reconnaissance Decide what decisions have to be made and the degree of proof required to make them and estimate appropriate boundaries to the search. An excellent way to start reconnaissance is to identify the knowns and unknowns. Known Knowns are the things that we are aware of and understand. Equally clear are Known Unknowns, the things that we want to find out but don't have information on yet. Unknown Knowns is available information that you may have missed due to cognitive biases. Finally, there are Unknown Unknowns, which is information that we are neither aware of nor understand. An excellent way to brainstorm possible Unknown Unknowns is to consider counterfactuals or what-ifs. Unknown Unknowns could be new technology, unexpected competition, a shift in geopolitics etc. While you cannot research them, listing them down helps you expand the problem understanding. Evidence collection Decide on a standard of proof before you collect evidence. Many organizations rely on sources...
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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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