A casino's strategy can be related to a business strategy in the way that both involve managing risks and uncertainties. In a casino, the house always wins in the long run because it has systemic controls on the flow of information and it manages the odds in its favor. Similarly, a business can manage risks and uncertainties by implementing systemic controls and processes. This can help the business to survive and recover from unexpected systemic shocks, which is particularly important in today's volatile business environment.
How do you prepare your business for black swan events like pandemics or financial crises? Rogue Wav...
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