Our most patriotic and humane objectives after the lockdowns must be to get people back to work and businesses to profitability. This will be a process, not an event, and one for which we have no precedents. Business leaders and decision-makers will encounter growing risks and huge uncertainties in the months ahead. In this context, I’m referencing Frank Knight’s distinction of risk as measurable uncertainty and uncertainty as unmeasurable risk.
Business leaders and investors know how to quantify and price risks; uncertainties are another matter. Unlike risks, which drive decisions and stimulate innovation, market and financial uncertainties paralyze decision-making and decision-makers. To quote Nate Silver in The Signal and the Noise, “risk greases the wheels of a free-market economy; uncertainty grinds them to a halt.”
We’ve helped clients in previous crises cope and overcome uncertainty uncertainties. So, we're combining our experiences, lessons learned and timely research to engineer solutions to help businesses return to profitability. We’ll be sharing insights from these efforts in comping posts. In the meantime, we are ready to help, so don’t hesitate to contact us via LinkedIn and directly at ozzie@ozziepaezresearch.com.