A cybernetic approach to organizational resilience

The modern organization operates in a dynamic environment where ambiguity and uncertainty abound. As an open social system that functions in a continuously evolving business context, the modern organization must determine the external and internal issues that are relevant to its purpose and its strategic direction, and continually align its governance and management models, in a manner that reflects the diversity of this context. Embracing an organizational resilience paradigm, augments traditional risk management efforts and promotes the optimization of key and enabling processes, across all functions and levels of the organization. On a practical level, organizational resilience can be instrumental in improving management performance and an impetus to anticipating future threats and opportunities. Moreover, it can reinforce the organization’s capacity to monitor developing trends, as well as its ability to respond proactively to a variety of events, while learning from past successes and failures. Finally, implementing an effective internal control framework, combined with sufficient internal audit processes, will ensure that operational and tactical actions are aligned with strategic priorities that are consistent with the culture of the business, and in line with the organization’s overall risk tolerance. In this work we make use of the cybernetic structure of the Viable System Model (VSM) to both identify and diagnose the pathologies commonly found in traditional organizations, and explore its practical potential, in developing and implementing redesign initiatives, which reinforce the organization’s resilience and agility.The modern organization operates in a dynamic environment where ambiguity and uncertainty abound. As an open social system that functions in a continuously evolving business context, the modern organization must determine the external and internal issues that are relevant to its purpose and its strategic direction, and continually align its governance and management models, in a manner that reflects the diversity of this context. Embracing an organizational resilience paradigm, augments traditional risk management efforts and promotes the optimization of key and enabling processes, across all functions and levels of the organization. On a practical level, organizational resilience can be instrumental in improving management performance and an impetus to anticipating future threats and opportunities. Moreover, it can reinforce the organization’s capacity to monitor developing trends, as well as its ability to respond proactively to a variety of events, while learning from past successes and failures. Finally, implementing an effective internal control framework, combined with sufficient internal audit processes, will ensure that operational and tactical actions are aligned with strategic priorities that are consistent with the culture of the business, and in line with the organization’s overall risk tolerance. In this work we make use of the cybernetic structure of the Viable System Model (VSM) to both identify and diagnose the pathologies commonly found in traditional organizations, and explore its practical potential, in developing and implementing redesign initiatives, which reinforce the organization’s resilience and agility

A Systems Approach to Information Security for the Twenty-First Century Organization

A crisis resulting from disruptive events that threaten to harm the organization or its stakeholders can originate from a plethora of sources. Data breaches, unauthorized disclosures of confidential information, and data leaks, are on the news almost daily. Most guidelines and standards published by prominent International Standards Organizations hold that risk-based thinking supports public, private, and community enterprises (referred for convenience in this work by the generic term “organization”) in determining the forces that could cause their key and enabling processes to deviate from planned arrangements, to apply preventive measures to modify risk, and to take advantage of opportunities as they arise. A well-structured Information Security Management System that is developed, implemented, and maintained through sound risk-based thinking, enables the organization to take appropriate actions to address the risks and opportunities associated with its information resources, in a manner that is commensurate to the complexity of its socio-technical infrastructure and the external environmentassociated with its activities. In this work we explore the Risk Management Process that is outlined in the ISO 31000 international standard, through the requirements/guidelines defined in the ISO/IEC 27000-series of international standards. The knowledge gained is applied to develop a systems driven conceptual structure thatcan be employed by any organization operating on the complexities of an interconnected environment, for the purpose of designing, implementing, monitoring, reviewing and continually improving a structured Information Security Management System

The Economic Crisis and the Role of External Audit: The Case of Greece

The global financial crisis of 2008 has been rivaled only by the Great Depression of the 1930s. The breadth and duration of this crisis had an adverse impact on every national economy, reflecting the systemic interdependence of an interconnected economic ecosystem, and the strengths and weaknesses of individual countries, regions, and monetary policies. The economic crises was particularly disparaging to the Greek state, which has a long history of excessive public spending, massive tax evasion, wage growth not supported by proportional productivity, and unsustainable debt levels. The health of the economy was further eroded as a result of a lack of confidence that was driven by questionable accounting practices and the misreporting of economic performance indicators by successive governments. The Court of Audit of the Hellenic Republic1 operates as the independent external auditor for the Greek state. Its effective and efficient operation within its mandated boundaries will be instrumental in the nation’s economic recovery and a key preventing measure to arrest financial mismanagement in the future. This work will describe the context in which the CoA carries out its activities, and will explore the means through which the organization can apply a systems approach to its structure, function, and management paradigm for the purpose of reinforcing its strategic, operational, and tactical capacity

Embryo with XYY syndrome presenting with clubfoot: a case report

Talipes equinovarus (clubfoot) is a skeletal anomaly of the embryo’s legs, with a frequency of 1-3:1000 living born babies. It may occur as an independent anomaly, or as part of a syndrome with concomitant chromosomal abnormalities

Forecasting: theory and practice

Forecasting has always been in the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The lack of a free-lunch theorem implies the need for a diverse set of forecasting methods to tackle an array of applications. This unique article provides a non-systematic review of the theory and the practice of forecasting. We offer a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts, including operations, economics, finance, energy, environment, and social good. We do not claim that this review is an exhaustive list of methods and applications. The list was compiled based on the expertise and interests of the authors. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of the forecasting theory and practice

Forecasting: theory and practice

peer reviewedForecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The large number of forecasting applications calls for a diverse set of forecasting methods to tackle real-life challenges. This article provides a non-systematic review of the theory and the practice of forecasting. We provide an overview of a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts. We do not claim that this review is an exhaustive list of methods and applications. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of forecasting theory and practice. Given its encyclopedic nature, the intended mode of reading is non-linear. We offer cross-references to allow the readers to navigate through the various topics. We complement the theoretical concepts and applications covered by large lists of free or open-source software implementations and publicly-available databases