The latest entry on our buzzword bingo cards is “future proof.” In reaction to the worldwide pandemic and ongoing supply chain disruption we’ve begun using this term to say “we won’t let anything blindside us again!”
That’s an insane concept in application. None of us can afford to invest resources on all the very low probability risks out there at the expense of investing in what accomplishing our mission and vision requires.
We could invest effort in becoming more proficient at risk identification and management. The downside of chasing the holy grail of cheap labor to places we couldn’t find on a globe, places that we know provide unsafe and environmentally damaging processes for workers, was fairly obvious. But the vast majority chose that option over all the others available. That was either very poor risk identification and mitigation or those companies willingly accepted the risk of international upheaval from any potential source for cheap prices.
Finish Strong™️ means anything worth doing is worth doing well. Enduring businesses have missions and visions that matter and focus on doing the important well. That means investing strategic profits in what matters during all business cycles. Enduring businesses, by definition, are committed to Finish Strong™️.
What are businesses that pursue future proofing committed to? Do they prepare equally for the incredibly low probability event and the high probability event?
There are legitimate concepts on your buzzword bingo concept, but I doubt that future proof will be one of those.