Risk is in the eye of the beholder – key risk management lessons from 2020

Sam Savage always says risk is in the eye of the beholder. 2020 certainly proved it once again – while COVID-19 was an ever present risk, it affected everyone and every company differently. At the personal health and safety level, COVID-19 was and still is a serious issue with consequences ranging from mild to deadly, depending on the age group, health and other pre-conditions. At the economic level, however, COVID-19 was truly amazing, ranging from bankruptcy and financial ruin to huge profits and exponential growth. Some, like the Chinese company that makes parts for mobile devices, were just lucky when investors confused their stock with Zoom.us, others proved to be truly resilient, adapting, changing the business model and taking full advantage of the situation. 

The key risk management lesson from 2020 for me was – resilience pays. 

I am not the one to teach people how to live life, I can only share key takeaways for me personally: 

If you missed the boat last year, learn the lessons and just wait for the next global crisis. It is only 5-7 years away… if we are lucky. 

So the key question to you – what will you do to make your personal life, career and family more resilient in 2021? 

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