Photo: Filepic/The Star
THE rare black swan is admired for its uniqueness and beauty. In risk management, certain events are called “black swan” events – they are rare and difficult to predict but have consequences nonetheless.
The Covid-19 global pandemic is the epitome of a black swan event. The probability of this event occurring is low but its impact is massive. Businesses face unprecedented operating scenarios, and disruptors rule. During this unprecedented period, the catchword phrase is “the new normal”, and it is anybody’s guess what that is! How does one address the emerging human, social, economic and environmental challenges – the key dimensions of sustainability?
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