Challenging Business-as-Usual Thinking in Risk Management

Over coffee with a colleague, looking out over Sydney’s northern beaches, our conversation took a serious turn—despite the relaxed setting, we found ourselves discussing risk and how we frame it.

If recent events have shown us anything, it’s that we can no longer assume business as usual will continue.

Too often, we fall into the trap of Risk Myopia—focusing narrowly on immediate, well-defined risks while overlooking broader, systemic, or long-term uncertainties. This kind of thinking can leave businesses and policymakers unprepared for disruptive events that challenge their fundamental assumptions.

So how do we break out of this mindset? Tools like scenario planning help us take a more interconnected approach, stress-testing our assumptions and expanding our view of possible futures.

It’s time to acknowledge that what once seemed unthinkable is now very real. We must actively challenge our biases, question our assumptions, and ensure our risk management strategies are fit for an uncertain world.

How is your organisation adapting its approach to risk?