Summary of Michele Wucker's The Gray Rhino

By IRB Media

Please note: This is a companion version & not the original book.

Book Preview: #1 Enron, a company that went down in the annals of business history as an example of the failure of auditors and investors to recognize that a firm was a house of cards, was actually a textbook example of how an acquirer can fail to do proper due diligence.

#2 We often ignore clear warnings about potential dangers because we are unwilling to deal with the consequences of knowing, especially when they don't agree with our preconceived notions about how wonderful things will be if they go the way we've told ourselves they will.

#3 People can be educated to avoid making poor financial decisions, but it takes a special kind of individual who is willing to speak out against the status quo.

#4 A group of friends went on a wildlife safari in Africa. While they were taking pictures, one of the friends whistled at a mother rhino and her baby rhino. The mother rhino charged them, but they were able to escape unharmed.

• Language: English
• Publisher: IRB Media
• Release date: Feb 11, 2022
• ISBN: 9781669346937

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Insights on Michele Wucker's The Gray Rhino

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 6

Insights from Chapter 7

Insights from Chapter 8

Insights from Chapter 9

Insights from Chapter 10

Insights from Chapter 1

#1

Enron, a company that went down in the annals of business history as an example of the failure of auditors and investors to recognize that a firm was a house of cards, was actually a textbook example of how an acquirer can fail to do proper due diligence.

#2

We often ignore clear warnings about potential dangers because we are unwilling to deal with the consequences of knowing, especially when they don't agree with our preconceived notions about how wonderful things will be if they go the way we've told ourselves they will.

#3

People can be educated to avoid making poor financial decisions, but it takes a special kind of individual who is willing to speak out against the status quo.

#4

A group of friends went on a wildlife safari in Africa. While they were taking pictures, one of the friends whistled at a mother rhino and her baby rhino. The mother rhino charged them, but they were able to escape unharmed.

#5

The best way to avoid a rhino’s charge is to not freeze in place, but to move out of the way.

#6

A Gray Rhino is a dangerous, probable threat that we should be able to see coming. Unfortunately, we are often unable to recognize the obvious, and so we fail to prevent these problems before they become crises.

#7

Many of the world’s problems are caused by governments and institutions that are completely unable to adapt.

#8

The threats facing us are so numerous and complex that it is hard for us to comprehend them. They also seem impossible to deal with, and we become resigned to our fate.

#9