Companies that create a culture of resilience throughout their organization are likely to be more successful in the long term, according to research by Cranfield School of Management and Airmic.
In the ‘Roads to Resilience’ report, published last week, the Cranfield authors urge boards and business leaders to challenge prevailing attitudes towards risk management and recognize that it should be a strategic priority and not just an operational or compliance issue.
Keith Goffin, Professor of Innovation at Cranfield School of Management who co-authored the report commented: “All industries are now facing unprecedented levels of risk that have real potential for harming their reputations and balance sheets. By bringing together the insights and experiences of those who have succeeded, this report challenges businesses to take the necessary actions to achieve resilience.”
Roads to Resilience examines eight leading organizations that have had to deal with significant uncertainty. Cranfield researchers interviewed senior staff with risk management responsibilities, including CEOs, at AIG; Drax Power; InterContinental Hotels Group; Jaguar Land Rover; Olympic Delivery Authority; The Technology Partnership; Virgin Atlantic and Zurich Insurance.