The concept of people measuring risk rather than managing risk focuses on understanding the three types of issues identified by Russell Akoff: mess, problem, and puzzle. These distinct types of issues require different approaches for resolution, highlighting the importance of recognizing the nature of the issue at hand to address it effectively.
Gerald Ashley is the Co-founder and Managing Director of St Mawgan & Co, a London-based strategy and risk consulting agency.
In today’s episode, Gerald explores the difference between risk and uncertainty, the challenges of managing them in the financial world, and how it can be powerful to split issues into either puzzles, problems, or messes.
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This show is produced in collaboration with Wavelength Creative. Visit wavelengthcreative.com for more information.