Chris Mandel explains the nature of emerging risks and their six components.
High level of uncertainty
Lack of consensus
Relevance
Difficult to communicate
Deciding ownership of the emerging risk
Often emerge in a systemic business practice and implicate a lot of the organizations’ processes
He also shares three reasons, why they’re a high priority to senior management, and the key elements of best management practices. Furthermore, he explains how Black Swans, Gray Rhinos and White Elephants are all factors to be aware of - especially Black Swans as they’re highly improbable and have a significant impact such as the COVID-19 pandemic
