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Our Guest on Episode 4 is Maverick, Pioneer, and Investor, Tony Fish.
Tony Fish is a maverick, pioneer, and investor. Tony forces us to think that we are left with no choice but to act when the very fabric of life changes. COVID-19, as the joke goes, has driven digital transformation with an urgency that competitive forces and economic conditions could not.
But as we rush into this new and exciting future, we are creating risks that our existing risk frameworks are blind to. We are blind, as our old risk model was built on a different economic model, a different market, and a different fabric.
As the shareholder-centric model (agency theory) of company oversight is giving way to society, health, and resilience, there is more change. Society needs food, and companies exist to provide it, not to maximise profits. Automation has a wider and deeper impact than cost-saving; it changes culture, authority, decision-making, and inertia.
Tony asks Directors and boards to step back from the short term questions we are facing, and without getting lost in the theoretical vision, mission and purpose and focus on the risks that data, ethics, automation, skills gaps, and innovation will mean to how we make decisions and consider judgments in a complex adaptive system – where the fabric has changed.
Directors have a mandatory duty to be informed and to navigate the consequences of their decisions. If we stay with our existing risk models, we will leave ourselves, our companies, our staff, and our customers exposed.
