by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
A key aspect of sports psychology is visualization. Before competing, many athletes have been trained to visualize themselves performing the event in the best possible manner. This has proven to be a very powerful technique for producing improved performance. If you see a TV close-up of an athlete in the moments before an event, you will often see them with their eyes closed. This is them going through their visualization technique and preparation.
Let’s take a moment and step away from athletics. Suppose there was a form of visualization that worked for business management that proved to be as powerful as visualization for sports. For your risk management function, what would you visualize? In other words, what would be the perfection of risk management implementation that you would run through in your mind? Not so easy to come up with an image is it? However if you cannot visualize it in your mind, how can you mange towards it?
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