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Resiliency and Uncertainty

Published on 26 May 2021 at 08:54

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Resilience. It's one of those increasingly overused words that is bandied about, almost too casually. Now, granted the world has more than it's share of "uncertainty" but more so than previous generations? Maybe that's debatable. I don't want to be Pollyannaish about this, but sure geopolitical, cyber, financial, and natural disasters all fall under increasing risks in our time, so it behooves companies to do more than think about how to manage risk in uncertain times and doing so without hysterically screaming that the world is coming to an end. My takeaway on this article is "true resilience requires balanced focus on six dimensions: financials, operations, technology, organization, reputation, and business model." These are all worthy of discussion including reputation resilience or "knife at your throat" as I loosely refer to it.


Both anticipation and response must play a large role in how companies manage across these six dimensions. We can't plan nor anticipate every risk that's coming down the road. So "freaking-out" now about the unknown is a useless effort. As a leader, think smart, assess what you know about present and future risk, determine what you can control, and plan strategically.


#resiliency #riskmanagement #riskassessments #operatingmodels #future

 

https://www.mckinsey.com/business-functions/risk/our-insights/the-resilience-imperative-succeeding-in-uncertain-times?cid=other-eml-dre-mip-mck&hlkid=a774e1a8976d4a078406df70a8406fd5&hctky=1748079&hdpid=0114db02-6a7f-4ebf-8077-e028e29bb12f


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