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| {{a|devil|}}Accidents ''will'' happen. Four strategies for coping: three focus on the accident, one focuses on your organisation.
| | #redirect[[coping strategy]] |
| ===Accidents===
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| *'''Dealing with accidents''':
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| :*Respond to accidents when they happen
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| :*Limit damage accidents can cause
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| :*Minimise chance that accidents happen
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| {{Tabletop}}
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| |'''Reaction'''
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| |'''Damage Limitation'''
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| |'''Avoidance'''
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| [[Closeout]] <br> | |
| [[Event of default]]<br>
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| [[Breach of contract]]<br>
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| [[Trade monitoring]]<br>
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| [[Red flags]]<br>
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| [[Good data]]<br>
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| [[Due diligence]]<br>
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| [[Relationship management]]<br>
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| [[Credit lines]]<br>
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| Chaos<br>
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| Fog of war<br>
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| Panic<br>
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| Urgency<br>
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| Volatility<br>
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| Fear<br>
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| Lack of information <br>
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| Compounding effect of above
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| {{Tablebottom}}
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| ===Vulnerability===
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| *'''Dealing with your [[organisational model]]''': Assuming accidents ''will'' happen, reduce vulnerability to them. Vulnerability comes in the form of unusual [[concentrations]]:
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| :*Concentration of energy — in a financial services firm, call this financial risk, or profit-and-loss generators
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| A:*Concentration of population — different modelsof [[distributed network]]. Compare “hub and spoke” models like airports (fragile — take out a hub and large parts of the system are inoperable) with “multiple-node” networks like the internet (robust — take out a node and everything can flow a different way).
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| :*Concentration of political/economic power— increases the vulnerability to harm from [[executive failure]].
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Latest revision as of 13:32, 4 October 2021