Should we consider Black Swan events as a strategic risk on an organisation’s risk register?

There is always the danger that we mistakenly use hindsight as foresight. The current COVID-19 crisis has demonstrated that events don’t always have predecessors and the lack of a precedent can contribute to the magnitude of the shock.

The oft quoted phrase “This is unprecedented” suggests that with a little extra effort, we could find precedents for anything and predict everything. But Black Swan events don’t have precedents.

Read More