The term "Unknown unknown" refers to risks that are not known to us, and which we may not even be aware of. These are the risks that can catch us by surprise and which can have a major impact on our organisation.
Unknown unknowns can be particularly dangerous because they can lead to serious problems that we are not prepared for. For example, unknown unknowns can lead to data breaches, financial losses, reputational damage, and even legal liability.
To manage unknown unknowns, organisations need to have a robust risk management system in place. This should include a process for identifying and assessing risks, as well as plans for how to respond to them.
Organisations also need to be aware of the possibility of unknown unknowns and be prepared to adapt their plans as new risks emerge.
What is unknown unknowns risk?
Unknown-unknown risks are risks that neither the organization nor its employees are aware of. These risks can come from many sources, including new or emerging technologies, changes in the external environment (e.g., new regulations), or even from within the organization (e.g., new business processes). Unknown-unknown risks can have a significant impact on the organization, as they can lead to unexpected consequences that can be costly or difficult to mitigate. As such, it is important for organizations to have a mechanism in place to identify and assess these risks.
How do you deal with unknown unknown?
Unknown unknowns are risks that we are not aware of and which have the potential to cause harm. They can be difficult to deal with because we may not even know that they exist. However, there are some steps that we can take to try to mitigate the risks posed by unknown unknowns:
1. Try to identify them: We can try to identify unknown unknowns by looking for patterns in data or events that seem anomalous or out of the ordinary. This can help us to spot potential risks that we would otherwise be unaware of.
2. Put safeguards in place: Once we have identified a potential unknown unknown, we can put safeguards in place to try to mitigate the risk. For example, if we know that a certain type of event has the potential to cause harm, we can put measures in place to try to prevent that event from happening.
3. Be prepared to respond: Even if we take all of the precautions in the world, there is always a chance that an unknown unknown will occur. Therefore, it is important to be prepared to respond to such an event. We should have a plan in place for how to deal with it and we should make sure that all relevant personnel are aware of the plan.
4. Review and learn: After an unknown unknown has occurred, it is important to review what happened and learn from it. This will help us to be better prepared for future unknown unknowns.
What is Donald Rumsfeld famous for?
Donald Rumsfeld is probably most famous for his role as the U.S. Secretary of Defense from 2001 to 2006, during which time he oversaw the invasions of Afghanistan and Iraq.
Prior to his time as Secretary of Defense, Rumsfeld had a long and distinguished career in public service. He served as a naval aviator during the Korean War, and then as a Congressional staff member and speechwriter for Illinois Republican Congressman Robert Taft Jr. He later served as a special assistant to the U.S. ambassador to NATO, and then as the Director of the Office of Economic Opportunity under President Richard Nixon.
After leaving government service, Rumsfeld worked in the private sector for a number of years, before being tapped by President Gerald Ford to serve as Chief of Staff and then as Secretary of Defense. He left the government again after Ford's defeat in the 1976 election, but returned to public service in 2001 when he was appointed Secretary of Defense by President George W. Bush. Who said we do not know what we do not know? There is no one definitive answer to this question. However, it is generally attributed to Socrates, who is quoted as saying, "The only true wisdom is in knowing you know nothing."