Results of a survey of business on the challenges over the next two years.
The joint survey looked at business sentiments across seven categories: People, Supply Chain, Finance, Technology, Regulation, Physical Environment and Community. The key findings were:
- People are the bedrock of resilience. Without the right staff, culture, training and leadership, it is almost impossible to create a resilient organisation.
- Business success relies on the robustness of supply chains. These are often made up of interconnected and complex systems and networks. If suppliers fall short or are disrupted, operational capability and recovery cannot be assured.
- Resilience depends on having a healthy bottom line in the face of economic changes and challenges.
- Technology can be a double-edged sword for businesses, helping them to become more resilient in some areas while increasing their vulnerability in others.
- Regulation can both impede and assist businesses in being resilient. However, it is an important underlying factor that we cannot do without.
- Damage to property and the impact on health and safety are the obvious effects of most physical shocks and stresses. Preparation and mitigation are critical resilient responses for the protection of business assets.
- The community with which a business interacts, whether that be in a commercial or residential environment or online across its various stakeholder groups, can have a fundamental impact on its resilience and how it operates.
To view the proceedings, see this video link.