![]() ![]() The challenge for businesses looking to minimise risks is to better understand their known knowns and known unknowns and, most importantly, have contingencies in place for unknown unknowns, which Rumsfeld correctly identified as the “category that tend to be the difficult ones”. Placing the politics of war to one side, in today’s world of cut-throat business, leaders are compelled to make choices every day which are impacted by factors known and unknown. It was a clumsy turn of phrase, but arguably an effective summary of the reality facing anyone making decisions under uncertain conditions. Rumsfeld was musing about the lack of evidence linking the government of Iraq to the supply of weapons of mass destruction to terrorist groups. ![]() It was 2002 and the US was on the brink of the war on Iraq. ![]() It was US Defence Secretary Donald Rumsfeld who most famously opined about “known knowns, known unknowns and unknown unknowns”. ![]()
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