How to Prepare for a Black Swan in strategy+business offers good advice to assess exposure to disruptive events, but misses key elements a strategy can and should cover.

In summary, the advice is [1] map the firm’s operations, supply-chain and sales channels [2] list potential disruptions [3] ask ‘what if’ these happen [4] set up contingency plans. Work on risk in utilities shows several additional strategy responses are both possible and desirable.

1. Reduce the risk that an event will actually cause ...