Category: Philippines Daily Inquirer

Monster Hunter Outlanders will launch globally on October 29, 2026, (excluding mainland China), bringing Capcom’s iconic monster-hunting franchise to mobile devices. The game is positioned as a more accessible entry point for both longtime fans and newcomers.

While Monster Hunter Outlanders marks a significant shift for a franchise traditionally associated with PC and console gaming, both TiMi Studio Group and Capcom stressed that preserving the essence of Monster Hunter remained one of the project’s biggest priorities.

Bringing the Monster Hunter experience to mobile

According to Capcom producer Ichiro Kiyokawa, the team was particularly focused on retaining the sense of decision-making that defines encounters throughout the series.

‘You need to observe the behavior of monsters and you need to judge whether to dodge or whether to attack. So by observing and making different judgments, depending on the behavior of monsters, you need to make different actions and you can also choose different weapon types as well.’ said Kiyokawa, in an interview with Tech INQ during Tokyo Game Show 2026, as Monster Hunter Outlanders gave fans a chance to play a demo of the upcoming game.

That philosophy sits at the heart of Monster Hunter Outlanders, even as the game introduces systems specifically designed for mobile players.

Rather than creating a direct adaptation of existing entries, the developers sought to build a title that could stand alongside the broader franchise while offering its own identity.

For the team at TiMi Studio Group, one of the biggest challenges was finding a way to deliver the series’ signature action gameplay on smartphones without overwhelming players unfamiliar with Monster Hunter.

‘To realize the gameplay of Monster Hunter IP in this brand new mobile game, especially the action experience, the biggest challenge we have faced is how we can simplify the whole mechanics and controls inside a mobile phone.’ said Dong Huang, producer at Tencent’s TiMi Studio Group.

The challenge extended beyond controls. Ensuring stable performance across a broad range of mobile devices required extensive optimization work throughout development.

‘It’s a mobile game, so smartphones’ performance and functionality and compatibility, that can be a challenge. So to be compatible with a smartphone, we have made a lot of optimization in terms of functionality and performance.’ added Dong Huang.

RELATED STORY: Blades of Mirage puts Southeast Asia at its fantasy core

Lowering Monster Hunter’s barrier to entry

Accessibility emerged as a recurring theme throughout the beta tests of the game. Both TiMi Studio Group and Capcom recognized that the series had a high barrier to entry because of its complex systems and demanding hunts.

For those players, Monster Hunter Outlanders is intended to serve as a gateway into the series.

‘When new players come to play Monster Hunter Outlanders, they can [hopefully] say, ‘Finally, I can play Monster Hunter, even though I’m not really good at action games.” said Dong Huang.

Capcom noted that the game includes a dedicated Adventure Mode designed to simplify controls and help newcomers become comfortable with the experience.

Kiyokawa said the mobile title occupies a unique position within the franchise by lowering the barrier to entry while maintaining core Monster Hunter gameplay.

‘Because it’s a mobile game, it doesn’t require any dedicated computer or dedicated console. So starting to play Monster Hunter Outlanders is much easier. So the starting hurdle will be much lower.’ said Kiyokawa.

What players can expect from Monster Hunter Outlanders

Beyond adapting the franchise for mobile, the developers also highlighted content created specifically for Monster Hunter Outlanders. During the Tokyo Game Show, players were able to take on Ruger Aidal, a new Elder Dragon introduced exclusively for the game.

‘We have added new elements, new monsters, original monsters inside Monster Hunter Outlanders, and we are very confident about delivering those new elements to even more users. So, after we officially release this game, please look forward to having a battle against different monsters, including this brand new original monster, Ruger Aidal, and please enjoy these new challenges.’ added Kiyokawa.

TiMi Studio Group also confirmed support for controllers and joysticks, allowing players to use alternative control options during hunts.

Together with the new Elder Dragon Ruger Aidal, the developers said players can look forward to original content created specifically for Monster Hunter Outlanders, including a new story, new Adventurers, and new challenges distinct from previous entries in the franchise.

Monster Hunter Outlanders will launch globally on October 29, 2026, for iOS and Android devices, excluding mainland China.

Pre-registration is now available in both the App Store and Google Play Store.

The Philippine government has granted Hungary bilateral recognition of its bird flu status, ensuring safe and continuous poultry trade between the two nations.

The Department of Agriculture (DA) has formalized the removal of countrywide import restrictions on domestic and wild birds and their products, as stated in Department Circular No. 52.

Hungary will permit poultry exports only from regions free of bird flu (HPAI)

All poultry shipments from Hungary must adhere to regionalization import terms, Administrative Circular No. 09 for HPAI, and current DA regulations.

Exporting countries can secure bilateral bird flu regionalization recognition to protect food security amid rising poultry demand.

‘The occurrence of HPAI from exporting countries and the imposition of a whole-country temporary ban limits the sources of day-old chicks, parent stocks and poultry meat, which in turn affects the prices,’ the circular read.

Hungary applied for bilateral recognition of its HPAI regionalization to export live poultry and meat to the Philippines.

Moreover, local authorities then requested several documents to evaluate Hungary’s public health control measures for avian influenza.

‘The review and evaluation of the application for bilateral recognition of regionalization for HPAI, completed by the Bureau of Animal Industry, concluded that Hungary maintains sufficient veterinary oversight and has established necessary control and mitigating measures against HPAI,’ the circular read.

This lowers the risk of importing domestic and wild birds and their products from recognition zones. Hungary exported 5,000 kilograms of meat to the archipelago from January to August, based on the Bureau of Animal Industry (BAI) data.

As the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) forecasts a ‘very strong’ El Niño that could persist until the first quarter of 2027, Manila Water Philippine Ventures (MWPV), the Non-East Zone subsidiary of Manila Water Company, is intensifying its preparedness measures across its service areas nationwide to help ensure a reliable water supply amid projected prolonged dry weather.

According to Pagasa, up to 85 provinces across the country may experience dry conditions, dry spells, and drought from late October 2026 to March 2027 as the El Niño phenomenon continues to intensify. The weather bureau warned that the climatic event, characterized by unusually warm sea surface temperatures in the tropical Pacific Ocean, could significantly impact rainfall patterns and place increasing pressure on water resources nationwide.

In response, MWPV has activated a range of proactive measures across its 13 operating units serving communities in Luzon, Visayas, and Mindanao, focusing on water source development, infrastructure resilience, operational readiness, and supply augmentation initiatives.

In the case of Cebu province, Manila Water Philippine Ventures (MWPV) has reaffirmed its commitment to ensuring a reliable and sustainable water supply for the region through proactive preparedness measures and strategic infrastructure investments as Metropolitan Cebu continues to face water supply challenges posed by severe dry weather conditions and looming impacts of a very strong El Niño.

MWPV-Cebu is currently delivering 30.3 million liters of potable water per day and has the capability to provide additional 7.5 million liters of potable water per day for Metro Cebu for approximately 12,000 households, helping address increasing water demand and El Niño while maintaining service reliability across its partner water districts.

Despite prevailing dry season conditions, the Company’s water source remains stable, with water continuing to overflow from the weir, demonstrating the resilience of its supply system and the ability to consistently meet current production requirements while complying with water quality standards.

To strengthen water availability during periods of prolonged dry weather, MWPV has implemented a range of El Niño preparedness initiatives. These include continuous monitoring and rehabilitation of deep wells and surface water sources, preventive maintenance programs, optimization of reservoir utilization, and the exploration of new water source projects.

The company has also readied water tankers and mobile treatment plants, enhanced backwash recovery programs in its treatment facilities, and prepared standby deep wells to help augment supply when needed.

To address future water demand and reinforce supply resilience, MWPV is preparing to undertake a major water supply infrastructure project through the development of a new source facility, treatment, and pumping station facility

The new infrastructure is expected to deliver an additional of at least 12.5 million liters of water supply per day to approximately 20,000 households, further boosting the reliability and resilience of Metro Cebu’s water system. [RM1.1]

‘The combination of our current supply reliability, robust El Niño preparedness measures, and planned capacity expansion provides support to Metro Cebu’s growing water requirements. We are not only addressing today’s needs but also laying the foundation for a more resilient and sustainable water future for the region,’ said Ruby Rose Mercado, General Manager of MWPV-Cebu.

Through proactive planning, infrastructure development, and responsible resource management, MWPV continues to work closely with its partners to help secure the long-term water future of Metro Cebu and support the region’s residential, commercial, and industrial growth.

Similar to its parent company, Manila Water, which has long prepared Metro Manila’s East Zone for the potential impacts of a strong El Nino, MWPV remains committed to safeguarding water security through proactive planning, diversified water sources, operational readiness, and strategic infrastructure investments the way it has prepared its other operating units nationwide such as Metro Ilagan Water, Calasiao Water, Laguna Water, Laguna Aquatech and Tanauan Water in Luzon; Boracay Water and Calbayog Water in the Visayas and Tagum Water in Mindanao; as well as Manila Water’s B2B operating units Estate Water and Manila Water Infratech Solutions.

The Bureau of Fisheries and Aquatic Resources (BFAR) has provided more than P14 million in fisheries and aquaculture assistance to boost coastal communities in Sorsogon.

On Friday, BFAR said in a statement the interventions include fish cages, fiberglass boats, and seaweed-processing equipment.

Agriculture Secretary Francisco Tiu Laurel Jr. said these interventions aim to address production and postharvest needs while helping coastal families build more sustainable livelihoods.

‘We are moving beyond quick fixes by pairing modern mariculture and sturdy vessels with critical postharvest assets to lift our coastal families out of vulnerability permanently,’ Tiu Laurel said.

BFAR provided the Triple B Fisherfolk Association in Bacon District with three high-density polyethylene (HDPE) marine fish cages, feeds and fingerlings, a floating house, and a fiberglass banca, amounting to P2.99 million.

These fish cages, situated in a 588-hectare mariculture zone in the area, will yield 18 metric tons of milkfish each year.

Through the FB Pagbabago Program, the Department of Agriculture (DA) distributed 20 36-foot fiberglass boats worth P4.02 million to registered fishers in Sorsogon City, Pilar, Castilla, Magallanes, Donsol, Casiguran, and Bulan. Postharvest facilities were provided as well.

The agency projects that fiberglass boats will yield approximately 88 metric tons (MT) of fish catch annually and will provide fisherfolk with larger vessels for their fishing operations.

Under the Enhanced Philippine Seaweed Development Program, the Samahang Mandaragat ng Barangay San Fernando in Prieto Diaz received a P1.03-million floating dryer designed to improve seaweed processing.

Meanwhile, the government awarded four 20-by-20-meter HDPE seaweed cages worth P5.96 million to the Bogña Self Help Group to support commercial seaweed production.

Sorsogon produced 32,643.37 MT of fish in 2025, a 28 percent decrease compared to a year ago, based on data from the Philippine Statistics Authority (PSA).

Kaila Napolis emerged as the lone podium finisher for the Philippine national jiu jitsu team on Friday after winning bronze in the women’s -52kg division at the Asian Games 2026 at Aichi Prefectural Martial Arts Hall.

Napolis, a gold medalist in the 2023 Southeast Asian Games, outlasted Mongolia’s Tsagaanbileg Altangerel, 2-0, in the bronze-medal match to give the Philippines its only jiu jitsu medal on Day 2 of the competition.

‘It’s an honor pa rin to win a bronze medal here in a big competition. I was happy I was able to pull the two points on this bronze medal,’ Napolis said.

Napolis reached the repechage after falling to Mongolia’s Mongoljin Gabaatar, 3-2, in the quarterfinals.

‘I’m so disappointed after the second match,’ said Napolis. ‘So I really wanted to bounce backwith the bronze medal. I wanna give it all. And thankfully, I was able to pull it off.’

Earlier, world champion Annie Ramirez, who won the -57kg gold at the 2022 Hangzhou Asian Games, suffered a shock exit in the round of 16 after losing to Thailand’s Nuchanat Singchalad.

Napolis matched her bronze finish from Hangzhou and remained grateful for another Asian Games podium result.

‘This is still big for me. This is the Asian Games, and it happens every four years,’ said Napolis. ‘We’re a bit sad, of course, for others who couldn’t win a medal. But I’m super thankful for the support, especially the PSC, POC, and our federation.’

In other results, Luigi Dy lost to Mongolia’s Davaadorj Munkhtur, 3-0, in the men’s -77kg round of 32, while Mark Constance Vergel fell to Mongolia’s Shinezorig Bulgankhuu, 2-0, in the same round.

Romeo John Alfred Raphael Arellano also lost to United Arab Emirates’ Amaar Alhosani, 2-0, in the repechage.

Four more Filipinos will vie for medals on the final day Saturday: Vito Luisa Luzuriaga and David Miranda in men’s -85kg, and Andrea Lois Lao and Alenxandria Luz Enriquez in women’s -63kg.

Speaker Faustino ‘Bojie’ Dy III underscored on Thursday the efforts of the House of Representatives to turn bamboo into a sustainable source of livelihood and economic activity.

Dy spoke about this before developing partners and technical experts of the bamboo industry during the ‘Building the Future with Bamboo’ program at the Asian Development Bank headquarters in Mandaluyong City.

Dy highlighted the approval of the House Committee on Agriculture and Food of a substitute bill aiming to strengthen the country’s bamboo industry by recognizing bamboo as both a high-value and industrial crop and establishing a national framework linking farmers to processors, businesses, and markets.

Dy has been pushing for the development and modernization of the bamboo industry.

At the event, Dy toured the bamboo exhibit, taking a closer look at the products on display, and even tried out a bamboo bicycle.

He was accompanied by Bukidnon 1st District Rep. Jose Manuel Alba and other members of the House.

The exhibit showcased bamboo’s potential for a wide range of uses, highlighting the opportunities for Filipino farmers and enterprises as the House advances measures to support the industry.

An 81-year-old man died after reportedly slipping on rocks and hitting his head at Alcantara town in Romblon, early Wednesday.

The victim was found lying face down along the shoreline in Sitio Nipa, Barangay Tugdan, at around 5:15 a.m., according to the Philippine Information Agency in Romblon.

The Alcantara Municipal Police Station said a resident saw the victim lying on the beach and found him unresponsive, with blood pooled around his head. The incident was then reported to the police.

The victim was accustomed to bathing in the sea early mornings, the police were told.

A duty nurse from the Alcantara Rural Health Unit reportedly found no indication of foul play.

The victim’s family also believed that the incident was accidental and agreed to have his remains undergo a post-mortem examination before the wake.

When Quezon City Rep. Ysabel Zamora questioned a witness during recent House impeachment proceedings, much of the online reaction bypassed the legal relevance of the testimony. Instead, social media comment sections fixated on her speech pattern-specifically her soft, English-dominant cadence and her distinct pronunciation of Tagalog words like baril.

While public commentary quickly devolved into accusations of flirtation, ‘bedroom voices,’ and sexualized humor, the phenomenon points to two deeper, intersecting issues in modern Philippine public discourse: the social baggage attached to the ‘conyo’ speech register, and the troubling tendency to sexualize women when their public performance escapes familiar categories.

As commentator Paul S. Galutera (known online as Morning Coffee Thoughts) observed, what many labeled as an attempt at seduction was simply a familiar linguistic profile. For decades, sociolinguists have noted that conyo is not merely an accent; it is a recognized speech register historically tied to urban, private-school-educated, or upper-middle-class environments.

Public perception in the Philippines remains deeply sensitive to how authority figures speak. Years ago, in an essay later included in my recent book ‘I Was Hungry and… You Formed a Committee?’ I examined our long-standing struggle to establish a ‘standard Filipino English’-a form of clear, professional English accessible across regions and social classes without requiring citizens to mimic foreign accents or slip into disjointed ‘Taglish.’ Neighboring Singapore has since evidently developed its own ‘Singlish,’ a distinct local variety they seem entirely comfortable with, but our own path with English and Taglish remains far more conflicted.

The premise of developing a standard variety was straightforward: language should serve as a functional bridge for civic life, legal proceedings, and broad international understanding, rather than a marker of social division.

Instead, Philippine speech has continued to fracture along class and cultural lines. On one end is the derision faced by those who speak with regional accents; on the other is the instant suspicion directed at those who speak with elite conyo inflections. In politics, sounding ‘too English’ or ‘too elite’ can draw immediate public detachment.

However, the reaction to Zamora went beyond routine anti-elitist ribbing. Critique of her courtroom strategy or delivery quickly morphed into explicit gendered commentary. As research on online misogyny in Philippine politics continuously highlights, converting a female official’s professional presence into sexualized jokes diminishes her perceived legitimacy as a public actor.

The double standard becomes stark when contrasted with actual instances of inappropriate behavior in legislative halls. When male lawmakers have openly introduced explicit or suggestive remarks into official records, the reactions have often been treated as mere lapses in decorum or brushed off as humor. Yet when a female prosecutor simply delivers testimony in her natural, lifelong speaking voice, observers manage to project sexual intent onto her vocabulary.

Critiquing a lawmaker’s preparation, line of questioning, or political stance is fair game in a democracy. Even expressing distaste for a particular accent falls within ordinary public commentary. But when public assessment shifts from evaluating evidence to speculating on a speaker’s private motives or anatomy, the debate ceases to be about governance.

Our public sphere would benefit from greater discipline on two fronts: a more conscious effort to foster a clear, professional Standard Filipino English that unites rather than alienates, and a firm refusal to let gendered tropes replace substantive public critique.

A .45-caliber pistol was recovered from a Grade 10 student inside a classroom in Brgy. Dalakit in Catarman, Northern Samar, on Thursday, Oct. 1, according to the Police Regional Office 8.

In a statement on Friday, police said the gun was retrieved after another student reported to a teacher that the minor was carrying a firearm inside the classroom.

The incident, which happened at the Catarman National High School located in Barangay Dalaki, came after another student alerted a teacher that the minor was allegedly carrying a firearm inside a classroom. The teacher reported the matter to the school administration, which subsequently notified the Catarman Municipal Police Station.

Police recovered from the 15-year-old student a .45-caliber pistol without a serial number, four magazines, and 10 rounds of ammunition. The student reportedly told authorities that the firearm belonged to his father.

This was then reported to the school administration and then to the Catarman Municipal Police Station.

According to the police, the recovered .45 caliber pistol had no serial number. Also seized from the student were four magazines and 10 rounds of ammunition.

Following the incident, personnel from the Women and Children Protection Desk assisted the student and then referred him to the Municipal Social Welfare and Development Office for assessment and appropriate intervention under applicable laws and procedures.

It was learned that classes at the said school, which has over 5,000 enrolled students, were not suspended despite the incident.

The incident comes amid heightened concern over the security of schools in Eastern Visayas following the deadly shooting at San Jose National High School in Tacloban City on June 22.

Police personnel, meanwhile, met with school officials to assist in ensuring the safety of the students, teachers, and their staff.

This is in line with the directive of PNP Chief Gen. Jose Melencio Nartatez Jr. and the Police Regional Office 8’s efforts, under Brig. Gen. Romano Cardiño, to strengthen partnerships with schools, local governments, and other stakeholders in maintaining safe learning environments.

‘The safety of our students is a responsibility that we must share. We will continue to strengthen PRO-8’s partnership with schools and other stakeholders to maintain a safe learning environment throughout Eastern Visayas,’ Cardiño said.

PRO-8 reminded parents and guardians to ensure that firearms are properly secured and kept away from children and other unauthorized persons.

Every strategy rests on assumptions. The problem is that once a strategy is approved, those assumptions can disappear from view.

Imagine the Philippine government announcing that every Filipino who reaches 101 will receive P1 million, with another P1 million for every birthday thereafter.

At first glance, this may seem manageable. But how many Filipinos will reach 101? How long will they live beyond that age? And what happens to fiscal exposure if longevity improves faster than expected?

This is not entirely hypothetical. Proposals have been filed in Congress to provide P1 million to Filipinos reaching 101, with additional benefits for succeeding birthdays.

Current law provides P100,000 to Filipinos who reach 100. Republic Act No. 11982, enacted in 2024, also provides P10,000 cash gifts at ages 80, 85, 90 and 95. In 2024, 1,750 centenarians received the P100,000 benefit.

The bigger leadership question is not simply how accurately we forecast the number of centenarians. It is how we govern the assumptions behind long-term commitments.

The same question applies in business when leaders make long-term bets based on assumptions about customers, growth, costs, technology, markets or competition.

When an assumption stops being an assumption

A forecast can be wrong without management having failed.

We forecast 2,000 beneficiaries; 3,500 actually qualify. That is forecast error.

But suppose the number rises to 3,500. Nobody is assigned to monitor it; the board is not alerted; the budget remains unchanged; and the policy continues without reassessment.

That is governance failure.

The dangerous assumption is, therefore, not necessarily the wrong one. It is the assumption that stops being treated as an assumption.

Once an assumption becomes embedded in a budget, strategy, investment or public policy, people often stop questioning it. The forecast becomes the plan. The plan becomes the commitment. That is when an assumption can become a liability.

From Pila to assumption governance

To help leaders examine the reasoning behind a strategy before capital or policy is committed, we developed the Pila (problem, insight, logic and assumptions) Reasoning Stack.

Pila asks:

Problem: What problem are we trying to solve?

Insight: What have we learned about the situation?

Logic: Why should the proposed intervention work?

Assumptions: What must be true for that logic to remain valid?

For a policy supporting people in extreme old age, assumptions might include:

The qualifying population remains relatively small and predictable.

Survival beyond the qualifying age remains within the fiscal model’s range.

Government revenues and social-sector allocations can absorb the resulting obligation.

Pila identifies the assumptions. The 7As govern them. The 4Ts give the board visibility and control.

7As of assumption governance

Before committing capital or approving a long-term policy, leaders should ask seven questions:

Accountability: Who has single-point accountability for this assumption?

Ascertain: What evidence supports it?

Adversarial challenge: Who is incentivized to try to break it?

Analysis: What happens to cash flow, returns or outcomes if it is wrong by 20 percent or 50 percent?

Audit: How often should it be revalidated against actual experience?

Alert: What threshold requires a strategic reassessment?

Action: What happens when the assumption proves wrong, before the liability compounds?

The sequence is: identify ? rank ? own ? challenge ? stress-test ? monitor ? trigger ? act.

The objective is not to eliminate assumptions. It is to make consequential assumptions visible, testable and actionable before they become expensive.

Stress-testing longevity

Consider a purely illustrative policy based on 2,000 beneficiaries annually receiving P1 million each. The baseline annual cost would be P2 billion.

Now suppose the beneficiary population rises to 3,500. The annual payout becomes P3.5 billion, a 75-percent increase.

Then consider longevity. If that cohort receives P1 million for an average of 2.5 additional birthdays, cumulative payouts associated with the cohort would be P8.75 billion

This does not mean P8.75 billion automatically becomes the government’s annual budget requirement. It illustrates how cumulative exposure can diverge sharply from an initial annual estimate. That is why stress-testing matters.

Lessons beyond public policy

The same dynamic appears in business.

In the Philippine preneed sector, long-term promises depended on assumptions about investment returns, obligations and future claims.

As economic and industry conditions deteriorated, trust fund deficits accumulated. By June 2001, the International Monetary Fund reported an aggregate trust fund deficit of about P1.7 billion among 46 reporting preneed companies, with 33 of 82 trust funds in deficit.

The lesson is not simply that forecasts can be wrong. Long-term promises become dangerous when the assumptions are not continuously tested against reality.

A more recent example is the controversy surrounding the transfer of P89.9 billion in PhilHealth reserves to the national government. The episode exposed competing assumptions about what constituted ‘idle’ reserves, the adequacy of health insurance funds and the government’s authority to reallocate them.

The Supreme Court subsequently struck down the legal basis for the transfer and ordered the return of P60 billion already transferred while permanently prohibiting the transfer of the remaining P29.9 billion.

The broader lesson is that assumptions about liquidity, reserves and future obligations cannot remain implicit when large, long-term commitments are involved.

The 4T board test

Management needs a process for governing assumptions. Boards need a simple way to determine whether that process is working. The 4T’s of assumption governance are:

Transparent: Critical assumptions are visible to decision-makers.

Tracked: They are monitored against actual experience.

Tested: They are challenged and stress-tested.

Triggered: Thresholds are linked to mandatory reassessment or action.

For a board chair, this can reduce a complex strategy discussion to four questions:

What must be true for this strategy to work?

Which assumptions could materially change our decision?

Who is watching them?

What is the trigger, and what will we do?

That is governance in practical form.

Board chairs: Require an assumption. Register for major investments, acquisitions, technology and strategic plans. Focus discussion on the few assumptions that could materially change the decision.

What leaders should do

CEOs and business owners: Identify the one to three assumptions on which the strategy most heavily depends. Find the fastest and cheapest way to test them.

Chief technology officers and innovators: Treat technology investments as hypotheses. Define leading indicators that reveal early whether adoption, cost, productivity, security or implementation assumptions are holding.

Policymakers: Require major long-term commitments to disclose and stress-test the assumptions underlying their projected fiscal exposure.

Business students: Understand that strategy is not simply about choosing the right answer. It is about knowing what must be true for the answer to remain right, and who is responsible for noticing when it no longer is.

Every long-term strategy is ultimately a bet on the future. Good governance is not predicting the future perfectly. It is knowing which assumptions the future is allowed to invalidate, who will notice and what will happen next.

The greatest risk is not being wrong.

It is being wrong without knowing it.