Preparedness Creates Better Decisions

Leaders who are better prepared to navigate through and succeed during highly volatile times and economic uncertainty make better decisions about risks, says a survey by global professional services firm Aon plc. The ‘2022 Executive Risk Survey, Making Better Decisions in Uncertain Times’ says that while 79 per cent of leaders expect a recession this year, only a select group of leaders – just 35 per cent – report feeling very prepared for that recession. Business leaders who are very prepared for a recession share some fundamental attitudes toward preparedness including embracing risk, getting analysis and advice from internal and external stakeholders, believing that risks are interconnected and drawing on experiences, and focusing on both the short term and long term when it comes to risks and issues.