Any business big or small must understand the following three risks and adopt necessary means to mitigate the same:
- Death Line Risk – This if not properly mitigated can kill or severely damage an enterprise
- Asymmetric Risk – The downside of such risks dwarfs the upside.
- Uncontrollable Risk – This cannot be controlled or managed and when occurs needs to be acted upon.
It has been observed that all high performing or 10X companies have demonstrated better ability in mitigating these risks than their competitors.This is what has made companies like SouthWest Airlines , Apple to where they are today