Antifragile By Design:
How to Thrive in Chaos
April 2020 — Insights
In 2012, Nassim Talib coined the term “antifragile” to describe items and systems that benefit from volatility and get stronger when subjected to shock. This quality has been vital for the progress and growth of human civilization since ancient times.
Unexpected events like the COVID-19 pandemic have sent ripples through our complex, intricately interwoven economic system. For many businesses and industries, the negative outcomes have been immense. At the same time, there are businesses and industries that have disproportionately gained from the recent chaos. If you were in the home delivery or e-commerce business you would have seen a significant increase in business.
As the commercial landscape rapidly evolves to accommodate this new normal, businesses have to reimagine and reposition so that they not only survive to meet this new demand, but become stronger in the face of volatility. We can’t rely on luck alone to place us on the right side of the new normal. In the long run, antifragility requires a fundamental shift in approach.
The (Digital) Road to Antifragility
The rise in connectivity has enabled us to continue life when, at the time of writing, over half of humanity is on lockdown. Everything from education to team briefings and dance lessons continue on platforms like Zoom, Hangouts, and Slack.
However, these platforms cannot replace the element of gut instinct and trust that drive human decision-making. The comfort of a handshake, the face-to-face meeting, the social interactions that have become an indispensable part of business. In this new, socially-distanced world, the organisations that win will be those who can successfully replicate trust in their engagement with customers.
Three of Black’s global partners offer three prescriptions on how to build business antifragility and thrive in this new normal.