Football, hockey and enterprise risk management

Riskviews writes a great post called Football is about more than just Shoes. He writes that the “equipment never wins the game” but a “team without proper equipment has only a slim chance of prevailing.” Riskviews also reiterates a point I’ve made about ERM (“ERM is about more than just models”): We often place too much reliance on scientific models and technology tools as opposed to behaviour, culture and common sense.

Maybe it’s the Canadian in me, but I would have used a hockey metaphor instead of a football metaphor because you can take the comparison a step further.

Unlike football which arguably all Americans in all geographies care about, hockey, like ERM is more of a niche thing and it is only appreciated in some (cold?) places. I’ve seen games and their great fans in Pittsburgh, New York City and Buffalo, but (anecdotally) it is not quite so beloved in Raleigh, Atlanta, Glendale or Miami. In this regard, I think ERM is like hockey in those southern US markets: there are fans that really love hockey but the fan base is often limited to the few people in arena.

Which brings us back to ERM and the EVP who once told me “ERM is important; we just don’t have time for it”. In those markets, hockey is important but to the majority of fans, they just don’t have time for it.

(PS: Bring the Jets back to Winnipeg!)

2 thoughts on “Football, hockey and enterprise risk management

  1. The “we don’t have time” excuse is a classic. 🙂

    Maybe we ought to rejig Mike Tyson’s, “everyone has a plan ’till they get punched in the mouth”, to cover these folks.

    “Everyone’s got an excuse for why no one could have expected them to be ready for a tornado/hurricane/hijacked passenger jet/volcanic ash cloud/tsunami/housing bubble/sovreign credit default/earthquake/political uprising/flood/cashflow problem/cloud service provider interruption/etcetera ad infinitum to put them out of business…”

    I won’t try to stretch your sports analogy, but there are plenty of cold weather folk over here who are awesomely unprepared. (Ericsson would be a historical example).

  2. The “we don’t have time” excuse is a classic. 🙂

    Maybe we ought to rejig Mike Tyson’s, “everyone has a plan ’till they get punched in the mouth”, to cover these folks.

    “Everyone’s got an excuse for why no one could have expected them to be ready for a tornado/hurricane/hijacked passenger jet/volcanic ash cloud/tsunami/housing bubble/sovreign credit default/earthquake/political uprising/flood/cashflow problem/cloud service provider interruption/etcetera ad infinitum to put them out of business…”

    I won’t try to stretch your sports analogy, but there are plenty of cold weather folk over here who are awesomely unprepared. (Ericsson would be a historical example).

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