Complexity and Risk

Frannie Léautier
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Frannie Léautier: Mkoba Private Equity Fund

Chapter 3 in Leadership in a Globalized World, 2014, pp 83-125 from Palgrave Macmillan

Abstract: Abstract This chapter focuses on concepts about complexity that are useful in any decision setting. This includes identifying the nature and types of interactions surrounding a decision and understanding their implications. It is critical to observe the variations in the pattern of behavior after action in an interconnected system and the ensuing pattern of risks and their severity. This chapter also introduces the role of learning from the past and reacting rapidly to changing situations, as well as the role of values and the behaviors that serve best in choice making under uncertainty. Specific skills introduced in the chapter are useful for guiding decision-making under increased complexity. These include: (1) the ability to observe and adapt to variations in the operating environment; (2) skills for assessing and selecting from a variety of options with little or partial information; (3) options for functioning in areas with low predictability about the future; (4) approaches for adjusting to the range of actions of other stakeholders; and (5) methods of engaging in actions to shape the global properties of decision environments for a common future outcome.

Keywords: World Trade Organization; Severe Acute Respiratory Syndrome; Food Price; Chicken Meat; Severe Acute Respiratory Syndrome (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43121-9_4

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DOI: 10.1057/9781137431219_4

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