Risk does not lie in the probability of an event but optionality. Risk should not be evaluated on rationality but optionality, meaning a heuristic calculation of gains and losses, always asymmetrical in a complex environment. Lessons given by Nassim Nicholas… Continue Reading
Individual is the sole agent on the market of life. Continue Reading
The famous Milton Friedman pencil case concerning the circular economy and integrated reporting is a topic of this post. Milton Friedman’s “pencil case” can be found in his book Free to Choose. A shorter but sufficiently explanatory version can be… Continue Reading
Value chains in organizations can be understood metaphorically as micro power plants that generate energy (value creation) from consumed inputs ( capitals ). Value chains are constructed to add value by producing a slightly greater output value than the sum… Continue Reading
The circular economy is not fake; it is a fake trend. Circularity is a necessary feature of life. It becomes a fake trend when vested interests and consultants abuse it. The concept that attracts so much public attention is nothing… Continue Reading
In organisational risk assessment, financial risk assessment (and financial risk management) comes first, followed by occupational injury risk prevention and physical security risk assessment and risk management, especially for properties and facilities that are more vulnerable to a crime or… Continue Reading
I guess we all experience awkward moments from time to time, seeing simple basic truths behind complicated explanations. Buzzwords like “circular economy”, “sharing economy” or “universal basic income” are the most frequent examples. There is an abundance of such buzzwords… Continue Reading
Integrated reporting is based on two premises: That organisations behave like living beings (biological premise). That living beings exist holistically (holistic premise). Taken together, these two premises limit the possibilities of organisational philosophy, explanation, design, governance, control, risk management, and… Continue Reading
Stakeholder is something in what an issue has a stake. Continue Reading
Public relations from the metabolic perspective Continue Reading