25/09/2014
Sabancı University School of Management professor Çağrı Haksöz spoke at the 25th Brisa Sustainable Change Conference. The Conference was held at the Sabancı Center on Monday, September 15th, 2014. Sabancı Holding President and Sabancı University Board of Trustees Chair Güler Sabancı gave introductory remarks.
üler Sabancı said, "We are excited about a new industry policy that considers the technologies of the future and regulates labor and tax policies to encourage advancement.”
Sabancı noted that during an era of great transformation for the world and humanity, everyone had the responsibility to think more about the future and anticipate the needs of future generations.
Saying that keeping people and their needs and expectations at the center is important, Sabancı continued, "People who are connected to technology and communication, going through rapid change, acquiring new needs and expectations… We need to find the solutions for the as yet undefined needs of the evolving society in order to be able to lead this change. This is driven by innovation, sustainability and entrepreneurship. At Sabancı Holding, we incorporate these three drivers in all our processes. We work to create environments where new ideas will be nurtured to make a difference as our vision requires. We try to provide our people with the right climate to transform innovative ideas to tangible success."
Güler Sabancı mentioned the recent emphasis on creating an environment that is conducive to entrepreneurship, innovation and research, explaining that while noticeable improvement has been achieved in research infrastructure, support must continue in a planned manner. Sabancı expressed her pride in Sabancı University being at the top of the university entrepreneurship and innovation index compiled by the Ministry of Science, Industry and Technology.
Sabancı University School of Management professor Çağrı Haksöz gave a lecture on “Risk Intelligence Journey.”
Çağrı Haksöz said that the risk intelligence journey was a necessary one in the 2000, mentioning the uncertainty created by questions like “Can we manage in such rapid change?” and “How happy will the individual be with these changes?”
Haksöz explained that brands today work with suppliers in different countries, which leads to an environment of uncertainty where unknown and unexpected risks are multiplying. Haksöz used the Black Swan theory of low-probability, high-impact events to explain unknown risks. According to this, the argument that “all swans are white” is refuted when a single black swan is observed. Haksöz said that measured and managed risks are usually white swans, and that fixating on the black swan could cause people to lose sight of other birds (risks and opportunities) in the ecosystem. Saying that the brain only sees and perceives what it focuses on, Haksöz explained his Swan Lake Theory where the white swan represents big data, the black swan represents little data, and the gray swan is the transition zone. Çağrı Haksöz said “Gray swans are the near misses. We can be successful if the data there is collected properly. Contrary to expectations, individuals and supply chains with high risk quotients can thrive and grow stronger in times of fragility.”
Çağrı Haksöz mentioned the four main roles in risk intelligence, which he called the I-Quartet. Çağrı Haksöz explained these roles based on his Tightrope Walker of Bosphorus metaphor.
Integrator: Using all of one’s competencies, capabilities and experience to ensure that the flow is perfect for internal and external requirements.
Inquirer: Being open to learning from mistakes, close threats and near misses; having the ability to foresee changes that may happen when taking the next step (like the tightness of the rope, wind speed and direction, and the walker’s psychological situation).
Improviser: Finding ways to make use of what is on hand to increase resistance, resilience and endurance. The key attribute of Turkish companies.
Ingenious: Creating opportunities to enjoy the work while taking risks intelligently.
Çağrı Haksöz concluded: “Are you fervent or bold on this journey? Being fervent is having the courage of the uninformed; being bold is calculating risks and taking steps accordingly.”
