Measuring Recovery at the Velocity of Risk
Since the start of 2020 when news of the pandemic first hit the headlines Risk Managers have been pressured to respond to the dual global threats of the COVID-19 pandemic and a changing economic landscape.
The experts at SAI Global (BCI partner) have been working closely with Risk and Business Continuity managers throughout the pandemic. What they have learned so far from their customers and colleagues in the field is that businesses are identifying layers of technology and initiatives at their companies that are no longer core or relevant and looking for more fitting solutions. Businesses have had to learn how to prioritise new key issues around business continuity, supply chain risk, cybersecurity, compliance and the integrity of process and procedure.
This recent whitepaper from SAI Global serves as a foundation for management teams to forge a path forward in a dynamically changing business environment by identifying the perspectives necessary to implement changes that will ensure organisational resiliency. To survive this period of upheaval, leadership teams can benefit from outlining a ‘Risk Arc’ that is customised to their organisation’s strengths and needs with distinct operational, technical and governance steps that are clearly and widely communicated throughout their organisation and customer base.
What SAI Global have seen so far in 2020’s business environment is that companies have had to swim against the current in two areas: Keeping their employees safe amid a global health crisis, while managing costs and maintaining customer relationships in a way that ensures the business survives. It requires organisations to analyse and prioritise the best technologies and initiatives during a time when every issue seems urgent and important.
Once the pandemic begins to ease management teams should review this period to assess what have they’ve learned and identify the most critical areas of the business operations and the experience of the pandemic as a guide for what they would or should do differently if another crisis of this magnitude presents itself. The true test of a business comes when it’s under duress.
The integrity of a organisation is not about whether you’re an ethical business in the best of times – but whether you can continue to demonstrate those same best-practice behaviours in the worst of times. The way companies treat their employees, customers, partners and other key stakeholders right now and the way they handle the business of doing business may echo for a generation. So how do you move forward?
This executive whitepaper from SAI Global outlines a framework for adopting a broader perspective on risk management and business resilience. The paper describes how to embed a hybrid qualitative and quantitative methodology into an organisation’s ongoing COVID-19 pandemic handling and workplace reopening strategy. This guide serves as a resource for management and risk professionals to determine the initiatives that should shape their current and future risk posture beyond traditional industry metrics.
Access your copy here