The Lean Are First to Starve in a Famine
By Payson Hall
Posted August 20, 2020 in Business Agility & Software Engineering Excellence, Business Technology & Digital Transformation Strategies Cutter Business Technology Journal
Payson Hall explores the general context of risk management, noting the conflict between efficiency and resilience in organizations employing Lean practices to reduce their costs at the expense of robust risk management. Such approaches may beat the odds in the short term but lead to dangerous exposure when times are hard, as has been observed during the current global pandemic. Hall discusses ways in which a modest investment can provide vital hedging against catastrophe.