Risk: exposure to the chance of injury or loss; a hazard or dangerous chance. Dictionary.com
"Risk comes from not knowing what you're doing." Warren Buffett
2020 has changed the way our business defines, uses, and measures risk. Many of our business and manufacturing processes changed. Adjusting to social distancing requirements, procurement bottlenecks, logistical disruption, and customer interactions required humility. Too much was taken for granted as reliable. Too many assumptions.
2020 did not kill us. It made us stronger. Cliché or not, it is true. We went back to the drawing board and remapped processes. Retooled our facility. Accelerated implementation and deployment of business technologies and new communication channels. Redefined the noun Risk.
Risk is neither negative or positive. It is a probability. Black Swans exist and taste like chicken.
Happy New Year!