International Journal of Research and Innovation in Social Science (IJRISS) | Volume VI, Issue VII, July 2022 | ISSN 2454–6186
Introduction to The Influence of Warm Data on Risk Leadership
Apanisile Samuel Temitope and Prof Olalekan Asikhia
Babcock University, Nigeria
Abstract: This paper would establish that organizations as a complex adaptive system are made up of interacting parts. The interaction generates data which is known as warm data. This type of data is nonlinear in nature and easily contextualize or map the interdependent variables and tail- risks that leaders and decision makers face on a day-to-day basis in a system. Up until now, there has been no computing way to deliver holistic signals and patterns that enable leaders and their teams to gain insight and foresight during interactions and conversations which help in uncovering and resolving their biases and blind spots. Warm data would assist leaders in cutting through the risk and fuzziness of complex internal and external environments in order to gain agility during ambiguity, clarity during complexity, understanding during uncertainty, optionality during instability, vision during volatility and certainty during chaos.
Keywords: Business Economics, Critical Thinking, Complexity, Conversation, Interaction, Leadership, Risk, Uncertainty, Warm Data.
I. INTRODUCTION
Today and tomorrow’s organizations are complex adaptive systems (Schneider, M., & Somers, M. 2006). We know the parts that make up our organizations but not how they work, neither are we certain about their outcomes. And when outcomes vary from our desires, we don’t know what to do to resolve the situation.
This phenomenon is so because organizations are made up of interacting parts (Richardson, K. A. 2008). According to (Goh, S. C. 1998) there are five strategic building blocks towards learning organizations such as Mission and Vision, Leadership, Experimentation, Transfer of Knowledge and Team and Cooperation. All these parts interact together in real time and in nonlinear ways producing multiple contexts that must be understood by leaders in achieving the desired objectives and outcomes (Bos-de Vos, M., Deken, F., & Kleinsmann, M. 2022).
These multiple contexts are the reason an organization is its interactions. The condition of these interactions is alive in conversations (Pangaro, 2002). These conversations are living systems (Brown, J. 2002); hence it is the condition of these interactions and strategic conversations that lead to organizational transformation (Chesley, J. A., & Wenger, M. S. 1999) in our ever fast changing and turbulent business environments.