Discussion (5 Points) Nassim Taleb coined the term 'Black Swan Event' to refer to an extremely...

 

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Discussion (5 Points) Nassim Taleb coined the term 'Black Swan Event' to refer to an extremely infrequent or improbable event, that, if it occurs has devastating consequences. Black Swan events are unpredictable, and fall beyond what would be considered normal operating conditions. Taleb argued that, because we can't predict these kinds of extreme events, it is critical to build systems capable of coping with them. The historical experiences that 3M had with what it calls X-Factor events prepared the company to respond to the overwhelming needs that emerged from the Covid-19 pandemic. What should companies be doing to learn from experiences and best prepare for future Black Swan events such as the Covid-19 pandemic? What kinds of Black Swan events would it make sense for different kinds of companies to prepare for? Discussion (5 Points) What kinds of assumptions tend to define how most companies and people-go about their day-to-day operations and lives? How are these assumptions, and the decisions that emerge from them-likely to change if people adopt a Black Swan mentality-recognizing that, although improbable, these events can and do happen, and with disastrous consequences? What kinds of assumptions do you make about how events in your own life will emerge? Do you have a Black Swan mentality? Why or why not? Discussion (5 Points) Nassim Taleb coined the term 'Black Swan Event' to refer to an extremely infrequent or improbable event, that, if it occurs has devastating consequences. Black Swan events are unpredictable, and fall beyond what would be considered normal operating conditions. Taleb argued that, because we can't predict these kinds of extreme events, it is critical to build systems capable of coping with them. The historical experiences that 3M had with what it calls X-Factor events prepared the company to respond to the overwhelming needs that emerged from the Covid-19 pandemic. What should companies be doing to learn from experiences and best prepare for future Black Swan events such as the Covid-19 pandemic? What kinds of Black Swan events would it make sense for different kinds of companies to prepare for? Discussion (5 Points) What kinds of assumptions tend to define how most companies and people-go about their day-to-day operations and lives? How are these assumptions, and the decisions that emerge from them-likely to change if people adopt a Black Swan mentality-recognizing that, although improbable, these events can and do happen, and with disastrous consequences? What kinds of assumptions do you make about how events in your own life will emerge? Do you have a Black Swan mentality? Why or why not?