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Airbag - steering-wheel continuum: Difference between revisions
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Airbag - steering-wheel continuum (view source)
Revision as of 14:30, 24 September 2021
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{{a|devil| | {{a|devil| | ||
[[File:Airbag.png|450px|thumb|center|The Karma Police, yesterday]] | [[File:Airbag.png|450px|thumb|center|The Karma Police, yesterday]] | ||
}}{{maxim|You only need airbags if you don’t steer straight}} | }}{{maxim|You only need airbags if you don’t steer straight}}. | ||
The | The “airbag - steering wheel continuum” is a management thought experiment<ref>I know what you are thinking: ''“''Who knew [[Middle management|management]] experimented with ''thought''?”</ref> asks: ''which is your containment device of choice?'' | ||
Where does your [[risk]] strategy sit, on the spectrum between: “I will conduct my affairs using expert people, with sensible customers, in a prudent manner, with a view to maximising shareholder return in the long run and minimising my exposure to extreme events, even if that means foregoing short-term gains in some cases” — in the terms of this metaphor, a “steering wheel” — and “sod it, I have an ejector seat, let’s bet the house on red” — an “airbag”. | Where does your [[risk]] strategy sit, on the spectrum between: “I will conduct my affairs using expert people, with sensible customers, in a prudent manner, with a view to maximising shareholder return in the long run and minimising my exposure to extreme events, even if that means foregoing short-term gains in some cases” — in the terms of this metaphor, a “steering wheel” — and “sod it, I have an ejector seat, let’s bet the house on red” — an “airbag”. | ||