Headline: Forbes, 12/28/2024
Normalcy bias causes people to underestimate the likelihood of disruptive events and their potential impact. It leads to a dangerous assumption that the future will function much like the past, despite clear evidence to the contrary. While this bias is common across various domains, its effects in the business world can be particularly catastrophic, especially in today’s volatile, uncertain, complex, and ambiguous (VUCA) environment.
One of the most striking examples of normalcy bias in recent times is the global response to the COVID-19 pandemic. Despite early warnings from epidemiologists, many businesses failed to prepare for the supply chain disruptions, shifts in consumer behavior, and workforce challenges that ensued. Companies that dismissed the pandemic as a temporary disruption faced severe operational and financial consequences, while those that adapted quickly to the “new normal” managed to thrive.
Related posts:
Bird poop will save us from the next pandemic. (12/29/2024)
Bird flu in chickens: IT'S EVERYWHERE IT'S EVERYWHERE!! (12/18)
Coming soon to your cat: Bird flu. (12/16)
Bird flu comes to British Columbia. (12/14)
No comments:
Post a Comment