The report, published in at Airmic's annual conference, stresses that the digital revolution has profoundly altered underlying business and organisational dynamics to the extent that approaches to risk, governance and resilience need a major re-wiring.
It argues that the challenges of the digital age are far broader than cyber security issues. As a result, businesses will need to reskill and introduce new mechanisms to ensure effective governance, monitoring, strategic leadership and, ultimately, legitimacy for their organisations.
It advises that the risks associated with digital transformation can be addressed effectively given the right approach, and outlines Airmic's Resilience and Transformation Model - a comprehensive and coherent structure designed to enable organisations to embrace advances in technology.
Roads to Revolution, written by Cass Business School on behalf of Airmic, was published in June 2018 and is based on a study of leading organisations that are active in the space of digital transformation. It is the third part of Airmic's highly acclaimed 'Roads' research, which includes Roads to Ruin (2011) and Roads to Resilience (2014).
"Achieving and maintaining resilience in the digital era is a huge challenge and requires signiﬁcant board-level support," commented Julia Graham, deputy CEO and technical director at Airmic. "The digital era is fundamentally altering the basic principles of resilience. Constant reinvention is now necessary for success and that's a vital message for boardrooms."
Julia Graham added: "This report distils our research into the key messages for board members. Resilience is not an end game, it's a constant process, and it's important that the risk community continually reinforces this message at the very top of their organisations."
View and download the report here.