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Airbag - steering-wheel continuum: Difference between revisions
Airbag - steering-wheel continuum (view source)
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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}}. | }}In a {{nutshell}}: {{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> that asks: ''which is your “containment device” of choice?'' | ||
Where, in other words, does your [[risk]] strategy sit, on the spectrum between: “I will conduct my affairs using market experts, whom I have empowered, to deal with sensible customers, whom I know well, in a prudent manner, with a view to maximising [[shareholder]] return in the long run and minimising the firm’s exposure to extreme events, even if that means foregoing short-term gains in some cases” — in the terms of this [[metaphor]], this is the “steering wheel” tactic — and “sod it, I have an ejector seat, I’m okay, so dammit, let’s bet the house on red!” — this is an “airbag” tactic. | Where, in other words, does your [[risk]] strategy sit, on the spectrum between: “I will conduct my affairs using market experts, whom I have empowered, to deal with sensible customers, whom I know well, in a prudent manner, with a view to maximising [[shareholder]] return in the long run and minimising the firm’s exposure to extreme events, even if that means foregoing short-term gains in some cases” — in the terms of this [[metaphor]], this is the “steering wheel” tactic — and “sod it, I have an ejector seat, I’m okay, so dammit, let’s bet the house on red!” — this is an “airbag” tactic. | ||