In the face of natural disasters like wildfires or financial crises, terms such as “unprecedented” are often used. However, these events, though rare, can often be anticipated. Theories such as Nassim Taleb’s “Black Swan” and Michele Wucker’s “Gray Rhino” highlight the unpredictability and foreseeability of such risks. Yet, a more fitting analogy might be “Killer Bees” — low-probability events that are still possible, characterized by high severity. By applying risk management strategies similar to avoiding bee stings, organizations can better prepare for the unexpected. Understanding these risk theories can help avoid surprises and ensure readiness for future crises.
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