Systemic controls in the context of business refer to the strategies or mechanisms put in place by an organization to manage and control the flow of information, resources, and processes. These controls are designed to ensure the overall stability and resilience of the business, especially in the face of external shocks or unexpected events. They can include things like risk management strategies, contingency plans, and information management systems. Much like a casino, which uses systemic controls to ensure it always wins in the long run, a business uses these controls to manage uncertainty and maintain a competitive advantage.
How do you prepare your business for black swan events like pandemics or financial crises? Rogue Wav...
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