Leadership often assumes a lot of “known knowns” when managing a business. Obstacles, challenges, and surprises are just part of being at the helm of an organization, but there are more unknowns out there than most would care to admit. A balance of caution and confidence is important for navigating these challenges. You don’t want to run a business scared. But there has to be a balance between these two to avoid the grinding halts of being overly cautious and the blind spots that overconfidence can miss. This combination of rising complexity and high self-reported confidence suggests a known knowns vs. unknown unknowns scenario: Known knowns are known things, such as existing or longstanding compliance problems, documented requirements, or tested controls. Known unknowns are acknowledged […]
