So I have just read a piece of news, my first in some time, when Boris Johnson, when referring to the UK economy is reported to have said “We are also amazingly resilient and creative, we will bounce back.”
Of late I have been exploring some interesting concepts. Some of these being quite distinct from Agile, i.e. Taleb’s thinking around antifragility. One term that does come up with striking regularity is the term resilience. One term that Taleb uses is robustness. In his view systems are either fragile, robust or antifragile. I, for one, in the past have thought of robust and resilient as being slightly different, but maybe I might have been overly pedantic
Robust or Resilient or are they just the same thing?
If you reread Johnson’s statement you might be forgiven for thinking that resilience means “to bounce back”. Fair enough? But yet from what I am reading, I understand that resilience to some people means so much more. To them, it does mean to improve as a result of some stress.
As I understand it, the concept of antifragility means to benefit from stress. So it would mean that there is something bigger and better than being merely resilient. But this does raise an interesting thought around stress: how much is enough or even useful. I penned some thoughts on that some time ago and my thinking hasn’t really changed since then: some stress delivered intermittently and in small doses can actually help teams (Read my blog post on that here).
This is a concept I am grappling with at the moment because on the one hand, I would like to think of our economy as something that would benefit from this current crisis, but can it? I suspect that in the short term it won’t, but that’s maybe because it is fragile as it is overly reliant on services. But maybe in the long term, it will.
Bouncing back is a good first step, but I wonder what the movers and shapers at Whitehall might be doing to make our economy antifragile?
And what about the wider system?
Also, I’m most curious about what would it mean for the world’s ecosystem at large as all of the economies are in some way related to each other. So does making our economy antifragile come at the expense of making other economies fragile? I don’t think there are simple answers to these questions.
Is there an answer to this crisis?
One thing I am convinced of more than ever; we need to be more concerned about each other and demonstrate more compassion to our fellow humans regardless of race, colour or creed. This is a call for greater cooperation and greater humanity, that is our way through this crisis. If we do that we will bounce back, we always do, don’t we …
The event that was …
On June 19th I took part in a Pro Bono Global event where myself and other contributors will be exploring humanity’s response to this crisis. We explored a wide range of topics that includes, but wasn’t limited to:
#TranscendingCrisis #riskmanagement #complexitythinking #systemsthinking #changemanagment #disruption #innovation #strategy #culture #nonormal #newnormal #nextnormal #evernormal #transformation #uncertainty #risk #complexity #resilience #futureproofing #futureproof #futureready, #blackswan, #grayrhino #ecosystems #businessagility #agile #agility #antifragile #antifragility #RiskTaking #Randomness
You can watch the discussions I had with several thought leaders in the space by clicking on the links below.
David Cushman (coming soon)
Jeremy Denisty (coming soon)