Currently, for many organizations, operational resilience is at the top of the agenda of the Board and senior management. The COVID-19 pandemic clearly showed how vulnerable societies and organizations can be to unexpected and unforeseen events.
As we live through the coronavirus crisis, people have started to gauge the economic consequences that the measures taken to combat the crisis may have. These are likely to be severe, with a significant increase in unemployment and company defaults.
The world is complex and the future uncertain. What does that mean for the existing models on which we base our expectations? For Prof. Lex Hoogduin, professor of complexity and uncertainty in financial markets and financial institutions and Chairman of LCH Clearnet, it was a reason to set up the Global Complexity Network (GloComNet), an open platform focusing on how to deal effectively with ‘complexity and uncertainty’. Zanders joined last year and together we developed the Framework for Acting under Uncertainty and Complexity (FAUC).