The Black Swan
If you’ve read my previous blogs and articles, or my book The Effective Board Member, you will know that I use the concept of The Governance Forum (TGF) Zoo to identify the dysfunctional behaviours that some board members display. There are 12 animals in my zoo including the sheep, representing ‘groupthink’ and passively following others.
In the world of governance, the "Black Swan" event represents something rare, high-impact, and often unpredictable. Much like the animals in the TGF Zoo, when a Black Swan event occurs, boards are often tested on their ability to pivot, maintain oversight, and avoid the pitfalls of groupthink.
As board members, it is crucial to recognize these rare events not as failures of prediction, but as opportunities for resilient decision-making. By moving away from the "sheep" mentality, boards can better prepare for the unforeseen.