The Risk of Short-Term Thinking
All too often, the short-termism and bias in the thinking of Risk Managers, the organisations they work for and the governments and regulators whose activities affect their business operations mean that emerging risk trends may be overlooked.
This hampers longterm risk management strategies and means that the approach to emerging risk trends is too often reactive rather than proactive.
Introducing the NEXT-Report
The NEXT- report, developed by @FERMA Foresight Committee, is aimed at helping Risk Managers to take a forward-looking approach to anticipate unknown and evolving threats that transcend traditional risk frameworks.
The use of structured foresight tools like scenario planning, horizon scanning and future wheels can help us to explore how risks may evolve and interact under different future circumstances.
From Prediction to Preparation
A foresight approach focuses on understanding trends and exposures and mapping vulnerabilities and interdependencies to ultimately strengthen risk management strategies. Rather than aiming to predict one, definitive future, a foresight-driven philosophy broadens the spectrum of potential scenarios. This fosters a culture of proactive adaptation, shared insight and enhances organisations’ capability to navigate and influence an increasingly uncertain global risk environment.
Fontana feels honoured to have been invited to develop the NEXT-microsite.
