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Managing Extreme Financial Risk by Karamjeet Paul

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Chapter 9

Continuous Readiness is Critical

A senior executive who wishes to remain anonymous

Abstract

In today's fast-paced markets, uncertainty requires continuous readiness, which means knowing where things stand as well how to take actions to maintain control of the situation. To achieve continuous readiness, planning is crucial. Effective planning requires information and readiness, both intellectual and emotional. Being ready intellectually means having easy and timely access to relevant and critical information that has already been internalized for actions. Being ready emotionally means that all key decision makers are on the same page and understand the need for triggering contingency plans. Three examples contrast readiness involving ...

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