Investing in Resilience: Learn how a poor crisis response can wipe billions off a company's value.
The BCI Northern Ireland Forum held their latest event on Friday 17th of May at Marsh & Mercer in Belfast. The topic was Investing in Resilience: Learn how a poor crisis response can wipe billions off a company's value. What resilience lessons can we learn from recent corporate crises?
Using some research from Marsh that investigates the impact of a crisis on a company’s value, the session explored case studies of major corporate crises from the past 10 years to identify the reasons why some companies thrive whilst others struggle simply to survive following a crisis. It explored accounting frauds, cyber events, supply chain failures, and product recalls identifying the common causes of poor crisis response and what can be done to prevent one.
The speaker was James Crask, Head of Business Resilience Advisory at Marsh. James leads the Business Resilience advisory service at Marsh where his team has extensive experience of delivering resilience projects across all industry groups. He has personally advised clients in a wide range of sectors with a particular focus in infrastructure, aviation, financial services, media, and government.
James previously worked for PwC where he was responsible for building the firm’s business resilience advisory services. He also chairs the International Standards Committee (ISO) responsible for all global Business Continuity and Organisational Resilience Standards. The current focus of this committee is on the revision of ISO 22301 and ISO 22313, the BCMS Standards.
Prior to his consulting experience, James worked for the UK Cabinet Office where he was responsible for planning for terrorism events during the London Olympic Games and for ensuring the Government could maintain critical services during a catastrophic event. The role also involved working to support Government Ministers in responding to national emergencies.
The slides from the event can be viewed below.