“There are known knowns. There are things we know that we know. There are known unknowns. That is to say, there are things that we now know we don’t know. But there are also unknown unknowns. There are things we do not know we don’t know.” Press briefing, former US Defence Secretary Donald Rumsfeld , 2002 Gobbledygook or profound insight? I’m inclined to the latter. Boards and managers tend to manage the risks they think they know, not the ones they don’t. The quality of your own business