Since the future is volatile, uncertain, complex and ambiguous (VUCA), as is the arrival of assorted black swan events, smart organisations build business resilience in the meantime. Building a significant level of financial reserves increases your ability to buy time or play for time, accelerate innovations or isolate threats. Automating key processes and investing inContinue Reading Business Resilience and Black Swans
The media frequently report on extreme weather events battering coastlines and causing flooding, whether storms in the UK, hurricanes in the Caribbean, typhoons in South East Asia or cyclones in the South Pacific. Such events cause huge problems for emergency services teams, insurance companies, government environmental agencies, tourism operators, utility companies, boat-run businesses andContinue Reading Business Flexibility, Resilience and Extreme Weather Threats
McKinsey & Co, World renown strategic consultants, in their article ‘Resilience for sustainable, inclusive growth’, publishing online in June 2022 state that ‘resilience should be seen as the ability to deal with adversity, withstand shocks and continuously adapt and accelerate as disruptions and crises arise over time.’ Meanwhile, sleicest-consulting.org.uk has developed a slightly different definition:Continue Reading Resilience defined