A business can profit from systemic threats by identifying them early and preparing for them. This involves horizon scanning to identify potential economic, technological, and social undercurrents that could impact the business. Once these undercurrents are identified, the business can then identify the risks and opportunities they could create. This can be done using the FOES Framework: Financial Risk, Operational Risk, External Risk, and Systemic Risk. By training junior staff to keep a lookout for these issues and installing organizational mechanisms to ensure warnings are heeded, a business can effectively respond to these systemic threats and potentially profit from them.
How do you prepare your business for black swan events like pandemics or financial crises? Rogue Wav...
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