The Black Swan Problem

Synopsis

In The Black Swan Problem, renowned risk and finance expert Håkan Jankensgård delivers an extraordinary and startling discussion of how firms should navigate a world of uncertainty and unexpected events. It examines three fundamental, high-level strategies for creating resilience in the face of "black swan" risks, highly unlikely but devastating events: insurance, buffering, and flexibility:The author also presents: detailed case studies, stories, and examples of major firms that failed to anticipate Black Swan Problems and, as a result, were either wiped out or experienced a major strategy disruption; extending the usual academic focus on individual biases to analyze Swans from an organizational perspective and prime organizations to proactive rather than reactive action; practical applications and tactics to mitigate Black Swan risks and protect corporate strategies against catastrophic losses and the collateral damage that they cause; and strategies and tools for turning Black Swan events into opportunities, reflecting the fact that resilience can be used for strategic advantage. An expert blueprint for companies seeking to anticipate, mitigate, and process tail risks, The Black Swan Problem is a must-listen for students and practitioners of risk management, executives, founders, managers, and other business leaders.