Reframing Risk

Last week I read an article by The Boston Consulting Group called Business of Business is No Longer Just Business. In it they describe the heightened levels of uncertainty facing business leaders using examples of political, economic and technology upheavals. They went on to describe five things leaders should embrace to manage complexity:

  1. Build multilevel scenario analysis skills
  2. Become more resilient
  3. Shape the system
  4. Recreate the narrative
  5. Reframe leadership

In my mind they are asking leaders in organisations to reframe risk. To shift conversations about risk from ones about compliance, three lines of defence or assurance to conversations about finding and tackling risk that others shy away from.

In other words, you should reframe risk – to find opportunities where no one else is looking.