In a recent podcast, Michele Wucker, best-selling author of “the Gray Rhino” and most recently “You Are What You Risk”, talked about risk, decision making and uncertainty with the hosts, and in particular:
• Five reasons decision makers have for not addressing problems
• Making the “devil’s advocate” more prominent in the decision making process
• Individual biases and how they define your “risk fingerprint”
• The “risk compass” and how it can help manage client risk tolerance
• The “Glass Cliff Phenomenon” and corporate crises
• The balance of left tail and right tail risk in group/family dynamics
• Thinking less deterministically and more probabilistically to get better outcomes
• Little “hacks” to help manage risk
Michele also shared real-life anecdotes of how using these methods have helped corporations/boards and families manage risk tolerance differences. She stresses repeatedly the usefulness of knowing the “risk fingerprint” of every member of the group, leading to significantly better outcomes.
Michele Wucker is an award-wining global thought leader who draws on three decades of experience in media and non-profit management and policy development.
Michele is the author of several books, the third of which is the highly praised “THE GRAY RHINO: How to Recognize and Act on the Obvious Dangers We Ignore”, which grew out of a presentation at the World Economic Forum annual meeting in Davos, Switzerland in which she coined the term “gray rhino” for highly probable, high impact crisis events.
Michele founded Gray Rhino & Company in 2015 to help leaders and organizations to identify and strategize responses to gray rhino risks that are neglected despite -and all too often because of- their size.
Michele has been recognized as a Young Global Leader of the World Economic Forum and a Guggenheim Fellow, among other honors. Her previous leadership positions include Vice President for Studies at The Chicago Council on Global Affairs; President of the World Policy Institute, which she re-launched in 2007 in a dramatic turnaround; and Latin America Bureau Chief at International Financing Review. She also has taught master’s students at the School for International and Public Affairs at Columbia University, of which she is an alumna. An engaging keynote speaker, moderator, panelist, and facilitator, she has delivered presentations in 16 countries on five continents. She lives in Chicago.
Michele’s speaking topics include:
- Gray Rhino-Proofing Your Future: A New Way to Think about Risk and Response
- Gray Rhinos, not Black Swans: A New Way to Think about Risk and Response
- Demographic Gray Rhinos: Robots Meet Aging and Migration
- Beyond Kicking the Can: How to Stop Muddling and Innovate