Retained Learnings from the books we read.
Reason for Recommendation:
Michele Wucker uses her extensive background in policy formation and crisis management to show how to recognize and strategically counter impending high impact threats. This book is essential reading for managers, investors, planners, policy makers, and anyone who would like to understand how to profit by avoiding threats. It is generally believed that China has three Gray Rhino’s: real estate bubble, currency devaluation and capital outflow, and increase in bank’s risky assets. Understanding how to recognize and deal with a Gray Rhino can help us to correct these disasters early on.
About the Author:
Michele Wucker is an award-winning global thought leader with experience in strategy, public policy, turnarounds and crisis management.
A “Gray Rhino” is a highly probable, high impact yet neglected threat: kin to both the elephant in the room and the unforeseeable black swan. Gray Rhinos are not random surprises but occur after a series of warnings and visible evidence such as the house bubble burst of 2008, aftermath of Hurricane Katrina and other natural disasters, these all present evidence well in advance.
However, leaders and decision makers keep failing to address obvious dangers and correct these crises before they spiral out of control. Wucker draws from her extensive background in policy formation and crisis management, using real-world examples, in-depth interviews with global leaders, and practical advice, to illustrate how we can recognize and strategically counter looming high impact threats.