Is there such a Think as Antifragility?
In a crisis in particular it is important that leadership can take as many perspectives as possible to develop a resilient position, to stream through the crisis and even become antifragile. Antifragility is a concept that has been developed by Professor Nassim Nicholas Taleb, the author of the “Black Swan”. He defines antifragility as the ability to resist failure and thrive and withstand of stressors, shocks, volatility, noise, mistakes, faults, attacks, or failures. It is different from the concept of resilience, being the ability to recover from failure. It is extremely useful in environments that cannot be described any longer by systemic risk and volatility.
Today’s business environment, in particular after Corona with an environmental crisis ahead, is best described by volatility, uncertainty, complexity and ambiguity (VUCA).
Uncertainty is different from risk. The latter can be captured by scenarios, probabilities and mathematical models. With uncertainty however, forecasting becomes much more complex. The existing assumptions and models fail to deliver useful forecast.
One way to repulse this business fragility is to make it antifragile. This means avoid failures by using resources more effectively, thinking in systems and leverage point analysis. So antifragility should be at the core of the VUCA economy in order for businesses to thrive.
We mare moving into a new busness reality based on ecosystems approaches, community development and creation of ecosystems. All of it combined with a more fuzzy leadership style and business models.
Become antifragile:
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Jacky Lam wrote for Forbes in 2019 “Cryptocurrency and blockchain are set to become one of the largest disruptive technologies in the world. As expected, the sector has seen immense startup growth and investor interest. But as we continue to witness successes in fundraising, ICOs (Initial Coin Offerings) and STOs, and application growth in blockchain technology, a worrying trend also comes to light – a lot of companies are not on the scene