Early warning indicators

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In today's volatile markets, companies must be ready for sudden changes, a challenge exacerbated by rapid globalization. To navigate these shifts effectively, businesses need to gather early information to inform their decisions. This raises critical questions about how to obtain prewarning knowledge and assess potential risks from future events. The book by Jaeger and Maciejewski addresses these concerns by exploring the significance of forecasts, leading indicators, and weak signals in the context of financial crises. It offers a thorough overview of related management fields, including risk and crisis management and management accounting. The authors delve into theoretical models and concepts, illustrating the connections between different leadership approaches and how early warning systems are integrated into them. The publication underscores the importance of prewarning knowledge, demonstrating its strategic and operational significance, particularly during financial crises. Additionally, it critically discusses the limitations of early warning systems and suggests that there is potential for further conceptual enhancement, especially regarding strategic early indication. This comprehensive analysis emphasizes the necessity of early warning mechanisms in contemporary business management.