Black Swan events – Should you be concerned?

The discovery of black swans in Western Australia was a shock for scientists. Today those unexpected birds have become a symbol for the disruption of the bell curve that is used for most forms of variation. Bhopal, Exxon Valdez and Société Générale have shown that, in business, the highly improbable can occur, with devastating consequences. In this article the authors take a closer look at … [ Read more ]