Video transcripts: Rethink resilience
0:55
Transcript
Resilience is important for industry for two reasons. The first is that the conventional approach to dealing with risks is to understand the probability of something bad happening and then to take a proportionate approach to potentially mitigating that risk.
And then the second reason would be the digitalisation of our world and the services that businesses provide to consumers. Not everything the organisation does needs to be resilient, and it's not proportionate to make everything resilient, so you have to focus on what matters most.
You have to ask the board what really matters to them in a crisis. What could they do without? What could they not do without? That defines what's critical, and then use that as a lens to filter down your organisation and develop the resilience in the places that it's needed in order to support those business outcomes.
0:55
Transcript
Organisations are people, and we need to take care of people to ensure that organisations are successful.
We need to move out of silo thinking and we need to embrace resilience as a collective. For an organisation that is aspiring to become more resilient, there are three things that it needs to focus on. I think leaders have to put in place strategies that are going to outlive their tenure. I think the second is recognising that burnt out people don't do well. And I think the third is about messaging externally.
When business leaders talk about issues like climate crisis, like mental health crisis, it sets the tone for future generations.
0:31
Transcript
I think the resilience of a business is really important because they have a duty of care to customers. I suppose it depends on what sector they are in. I think if a company isn't resilient, the impact of that can be quite severe. And affect lots of people's lives in different ways that a company might not understand. Because there’s a lot of trickling down, from what they sell to how someone uses it, to how it affects them.
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