Tue 15 Feb 2022 - If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. Products and our businesses need to be considered within their expanding systems – starting from our business in isolation, our business and customers, within their value chain, within the financial system, within its social system and technological environment – in order to increase their value and resilience and to ensure they are fulfilling their purpose.
The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?
The chair of the IFoA’s Financial Systems Thinking Innovation Centre, will precede the talk with a challenge to actuaries to use Systems Dynamics in their actuarial work.
Dr Nicola Ranger leads the Resilience and International Development Programme of the Environmental Change Institute. She is also Executive Director of the Oxford Martin Programme on Systemic Resilience and a Senior Research Fellow at the Institute for New Economic Thinking of the Oxford Martin School.
Principal and Consulting Actuary, Milliman
Deputy Chief Economist and Head of Department for Economic and Financial Analysis, Financial Conduct Authority