The Great Wreckoning
Guest Post by Geary Sikich (first posted on CERM ® RISK INSIGHTS – reposted here with permission)
Time matters most when decisions are irreversible
Transparent vulnerabilities are so obvious that they are easily overlooked; they are the ones we:
- see when they are pointed out;
- recognize when we are made aware of them;
- fail to acknowledge, leading to potentially significant consequences when the vulnerability is realized.
Risk and time are opposite sides of the same coin; for if there were no tomorrow, there would be no risk. Growing government intervention in the private sector therefore becomes a transparent vulnerability that we have not accounted for in our identification of vulnerabilities. Time transforms risk. The nature of risk is shaped by our time horizon. In order to achieve corporate goals and objectives time horizons are established few take into account government actions. [Read more…]