Friday, April 05, 2013

From now on




Managing Uncertainty by Michel Syrett and Marion Devine

After the recent crisis, we have seen how many sectors are interrelated. Crash in one leads to burn in many. In such 'uncertain' times, how can organizations prevail.
Uncertainty management is different from risk and crisis management. How can their managers be prepared for this unknown situation? To answer these, the authors have collaborated with PA consulting group in a survey and followed up the results with interviews of senior executives.
Scenario planning,improving agility and resilience of a company have been shown to be some of the main ways to survive the uncertain times. Communication has always been it for uncertainty reduction theory. Apart from these, analytics and collaboration have been shown with examples from GlaxosmithKline, Bestbuy and others as big players in their success.
Other books reference in the book, specifically the books on Analytics make the reader see how pattern recognition in customer behaviour can be used for double loop learning.
For a better understanding of uncertainty itself, refer to 'Managing project uncertainty' by David Cleden.

We know people and organization but system and process.
Fire sale

The aliens want to know what resilience is. The author informs how Companies too can make their managers resilient to the conditions that call for more than risk or crisis management. Bigelow company suggests playing out a  drill of managing uncertainty.

Books referenced:


        

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