Risk, Uncertainty, and the Uncertainty Mindset
Speaker: Vaughn Tan, Ph.D, Assistant Professor at University College London’s School of Management, in the Strategy and Entrepreneurship group. Vaughn received his PhD in Organizational Behaviour from Harvard University
Abstract:
“Risk” and “uncertainty” are usually conflated—but they are fundamentally different and have different implications for management research and practice. In particular, treating uncertain situations as if they are risky can have enormously damaging consequences, as we have seen in the context of coronavirus response worldwide in 2020 and the regulation of complex financial derivatives in 2008. In this talk, I use rich ethnographic research from cutting-edge innovation teams in high-end cuisine to 1) distinguish between risk and uncertainty, 2) explain a novel approach to action that is appropriate for uncertainty (the “uncertainty mindset”), and 3) briefly outline how the uncertainty mindset modifies organisational processes for hiring, goal-setting, and motivation and thus makes organisations more likely to be innovative and adaptable in uncertain situations.
Vaughn Tan, Ph.D, Assistant Professor at University College London’s School of Management, in the Strategy and Entrepreneurship group. Vaughn received his PhD in Organizational Behaviour from Harvard University.
http://www.mgmt.ucl.ac.uk/people/vaughntan
Dr. Tan is a London-based strategy consultant, and an author. His research focuses on understanding how individuals and organizations can be resilient to, and benefit from, uncertainty. His practice focuses on developing practical tools and design principles for building teams that can flourish in uncertain situations. He’s spent over a decade working with the food and beverage industry. Vaughn is the recent author of The Uncertainty Mindset: Innovation Insights from the Frontiers of Food. He’s also just launched idk, a training tool for productive discomfort. He is on the executive board of Rethink Food, the advisory board of Oyster Sunday, and the founding director of the Data Protection Foundation.
