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What is Black Swan Event

Achieving Organizational Agility, Intelligence, and Resilience Through Information Systems
An unexpected event that is itself minor but profoundly changes our understanding of the world. For years it was assumed all swans were white and discovering black swans forced a reassessment of many assumptions.
Published in Chapter:
Long Tail Leadership: A Covid Case Study Illustrates the Importance of Understanding Soft Power Affecting Organizations
Diane Spencer-Scarr (Curtin University, Australia)
DOI: 10.4018/978-1-7998-4799-1.ch004
The increased weighting of digital natives in a fattening long tail has added complexity to organizational leadership, particularly during the global COVID-19 pandemic. Trends affecting the individual come from social, economic, and technological sources and affect leadership behaviors, and this in turn affects society. In order to understand this interconnection, lower-level influences and how they affect the higher-level visible signs are discussed. These lead to influences on behavior. Influences are felt as intensity and embeddedness of engagement, decision-management, feedback ability, and motivators. This chapter begins with a discussion of causes for this phenomenon and concludes with ways to work with the long tail, either from within as a member or externally as a leader. The chapter ends with a brief comment on future research based on findings discussed in this chapter.
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More Results
Leadership and Strategic Decision Making Under Exogenous Shocks Such as COVID-19
Is an unpredictable occurrence that is beyond what is normally expected of a situation and has potentially severe consequences.
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Impact of Technology on Business Continuity During COVID-19
This is a metaphor for a surprising change event with major implications. This theory is often used in finance and describes a negative occurrence that was impossible to predict. Nassim Nicholas Taleb, a Lebanese American former option trader and risk analyst, coined the term ‘black swan’. He regards the COVID-19 pandemic as a ‘white swanevent because it had been foreseen by him and others.
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Obstacles and Resistance to Organizational Change in the New Post-COVID-19 Environment
An unpredictable incident beyond what is typically expected of a situation that has potentially severe consequences. Usually, no standard operating procedures or contingency plans exist to manage the event.
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