They got it wrong…. Internal Auditor recently published an article by Neil Baker “Managing the Complexity of Risk” claiming that “The ISO 31000 framework aims to provide a foundation for effective risk management within the organization.” Well….not so fast.
“Complexity” has become something of a buzz word in today’s business culture, becoming more vague and imprecise than many of us attempting to understand complexity would like. Naming something is not the same as actually knowing anything about what you just named (see my essay “The Red Wagon Principal: Knowing Is Better Than Naming”). The misappropriation of the concept is always done with the best of intentions. However, Neil was savvy enough to introduce Mandelbrot and fractal geometry into the mix doesn’t get a free pass.