Roads to Resilience – Why Cranfield University’s report, commissioned by Airmic, will be a must-read for anyone with an interest in Enterprise Risk Management.
Stephen Carver of Cranfield School of Management will present the findings of a big new Airmic report at the annual conference in June. ‘Roads to Resilience’ will be free to all members and a must-read for anyone interested in corporate risk management. Here he describes how your organisation can benefit from this ground breaking research.
Summer 2011 saw Airmic publish the ground breaking report Roads to Ruin. The report was very well received and identified seven key indicators that often seem to emerge when there are crises that lead to major corporate failures. The interesting fact is that these indicators seemed to apply across all sectors and were in many ways predictable.
Armed with this model Airmic, commissioned Cranfield School of Management to take the research one step further with the aim of identifying not so much how to deal with the crises once they occurred, but rather how to avoid them happening in the first place – a true risk management approach.
Several major corporates (across many sectors) who had a track record of avoiding or minimising these crisis events, were approached and asked if they would be willing to take part in a major study on what it was about their systems or culture that enabled them to absorb, or indeed avoid catastrophic crisis events – the “Roads to Resilience” report was born!
Resilience is the organisational capability to anticipate key events from emerging trends, constantly adapt to change, and rapidly bounce back from adversity. Resilient organisations are forward thinking and able to foresee relevant scenarios that are likely to occur which may have damaging effects on performance.
Resilient organisations strive to be prepared for the best, but also for the worst where learning inward and outward is nurtured and encouraged. Resilient organisations believe that with purpose, whatever uncertainty hits them, and regardless of the damage caused, they can recover and bounce back from trauma, quickly restoring business capabilities.
Individuals in resilient organisations are attentive and aware that failure may occur and continuously search for mechanisms to improve the reliability of operations across the whole organisation and ultimately organisation.
This report will provide an understanding of how to implement organisation-wide resilience management and go beyond commonly accepted standards in organisation management. It will offer a fresh outlook on how to manage uncertainty in the real sense.
Members will soon receive the brochure for the annual conference at the Brighton Centre June 10-12
Stephen Carver