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Published in:
2016 | OriginalPaper | Chapter
22. Singularity and Chaos Theory
Authors : Nabil Abu el Ata, Rudolf Schmandt
Published in: The Tyranny of Uncertainty
Publisher: Springer Berlin Heidelberg
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Abstract
The ability to predict chaos and singularities presents businesses with new opportunities to move from a reactive to proactive risk management posture. Mathematics can be applied to identify the conditions under which dynamic complexity will produce singularities and explore what actions can be taken to contain the risk. Ultimately businesses will benefit by identifying the path towards a point of chaos in order to make the decision to either re-route away from the dangerous course, push it as far as possible, or start a process of transformation and innovation. While it is useful to understand how mathematics supports a goal towards better control of dynamic complexity, and therefore better risk management, commercial technologies and new business practices will be required to fully capitalize on these discoveries.