- Opinion & Analysis
- Read Time: 7 min
With a new scrutiny around technology user data and privacy, we must not forget about the potential dangers of the technology itself.
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Research shows equity incentives introduce bias in executive recommendations and strategic planning. To counter this, boards should consider three key steps in assessing corporate risk.
In a webinar, Joseph Fiksel and Keely Croxton of The Ohio State University explain how proactive managers create innovative, dynamic organizations that can prosper under any circumstances. “We define resilience as the capacity to survive, adapt, and flourish in the face of turbulent change and uncertainty,” Fiskel said. Their research-based methodology identifies important supply chain vulnerabilities and sets priorities for strengthening capabilities.
In an adaption from his new book The Power of Resilience, MIT’s Yossi Sheffi explains how companies are learning to more quickly detect unanticipated problems that can interfere with their global operations. Sheffi looks at how leading companies are using an array of detection and response techniques, from sensors to supply chain control towers. These tools are helping companies become more resilient to disruptions such as hurricanes, the discovery of product contamination, and political events.
In an August 2015 webinar, MIT professor Yossi Sheffi, a renowned expert on supply chains, risk management, and resilience, shared insights and examples from his latest research and forthcoming new book, The Power of Resilience: How the Best Companies Manage the Unexpected. He offered insights on understanding and analyzing the types of risks companies face, as well as preparing for and coping with disruptions effectively.
How much of a threat does digital disruption present to your business? A short online questionnaire from Peter Weill and Stephanie L. Woerner, both of MIT Sloan’s Center for Information Systems Research, helps assess digital risk. “Although sweeping technology-enabled change often takes longer than we expect, history shows that the impact of such change can be greater than we ever imagined,” they write. “Think steam engines, cars, airplanes, TVs, telephones and, most recently, mobile phones and e-books.”
Good strategic thinking and decision making often require a shift in perspective — particularly in environments characterized by significant uncertainty and change. Managers can make better decisions by examining both broad market trends and less visible undercurrents. But the questions leaders pose sometimes get in the way of solving the right problem or seeing more innovative solutions. Here, the authors present six questions that challenge executives to incorporate broader perspectives.
Strategic thinking at the top of a company is more important than ever for business survival. But boards of directors have no clear model to follow when it comes to developing the strategic role for the companies they oversee. Should they supervise, cocreate or support strategy? A structured assessment of a board’s strategic responsibilities can bring clarity to its role in creating strategy, and boards should be prepared to change their role in strategy if the industry context changes.
In business, a black swan is neither a bird nor a ballerina — it’s a very rare convergence of factors that leads to catastrophe. New research suggests that by exploiting all types of data, managers can help prevent some black swan events, and reduce the hazards of other risky blind spots. The caveat: less intuition, more data.
What should we make of the role of financial innovation in precipitating the financial crisis — and how might problems with risk management that the crisis revealed be addressed?
By understanding the variety and interconnectedness of supply-chain risks, managers can tailor balanced, effective risk-reduction strategies. The authors show how smart companies use “stress testing” to identify parts of the supply chain that might break in the event of a natural disaster, terrorist strike or other upheaval. They then explain a variety of ways that supply-chain partners can collaboratively prepare for and effectively manage risk.
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