Traditional enterprise risk management cannot properly capture how to respond to events that are truly unique and unknown, where companies still fail despite heavy investments in a range of risk management activities. Agility can sometimes be at odds with the requirement for robust protection mechanisms. There is a need to think more broadly about long term sustainability of an organisation against a backdrop of constant change.
Enterprise resilience is dependent on strong leadership, where leaders manage change positively – it is about having the foresight, capability and agility to adapt and evolve, taking advantage of opportunities as well as addressing challenges. In resilient organisations, risk management was found to be integrated into strategic and operational decision-making and formed part of the very essence of corporate identity.
'Published for the Institute of Directors, Airmic, Marsh, PwC and Zurich by Director Publications Ltd'.