Major Disruption and Anticipating Risk
Someone bombed Saudi oil fields last week and it seems to have created a major disruption in oil availability.
This is not about who caused it, but about the importance of the disruption and the lack of foresight that it could have occurred with necessary protective steps. This is about anticipating risk.
It would seem that something this important should have had some special protection and an early warning system. It should also have had some serious risk management analysis and thought, but it is clear that this was not done.
How about you and your business? Do you regularly review your exposure to risk? Are you adequately insured? Is your home protected from theft? Are your digital files backed up and in a secure location? Do you take excessive or unnecessary risks while driving? Do you take one drink too much “for the road” before you get into the driver’s seat? Is texting or scrolling for a phone number a norm while driving? Are repairing minor damages postponed rather than taken care of when discovered?
If a disaster occurs, what would you wish you had done beforehand to prevent that from happening? Whatever that is, why now do it now?
Some would add a cost/benefit analysis to the process. Nothing wrong with that as long as you won’t be put out of business by what happens because you did not want to spend the preventative costs.
Duh! What could go wrong? You better figure it out and protect yourself from it. Or you could end up regretting not doing it.
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