The Serenity Prayer
March 17, 2020
Author: Guy Soreq
"God, grant me the serenity to accept the things I cannot change, Courage to change the things I can, And wisdom to know the difference."
The Serenity Prayer by American theologian Reinhold Niebuhr
As locusts swarm the Middle East and African continent, a financial crisis grips the world, and COVID-19 wreaks havoc on modern life as we know it, there are many things outside of our control. But even in this unprecedented moment, there are still some things we can change.
The IMF has sounded an alarm on the $19 trillion in risky corporate debt that threatens to set fire to the global economy. COVID-19 could be just the match to light the flame. Now is the time to fire-proof your supply chain, and this can begin with a simple stakeholder analysis.
How? Make a list of your stakeholders – all of the crucial elements in your value chain – and, if possible, cross-reference it with their level of debt. Identify the most dangerous hot spots within your supply chain, and begin seeking out secondary sources.
Taking action will require both courage and wisdom. Courage to make the change, and wisdom to know what you cannot change and where you must continue to hold risk.