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Risk in Context Podcast: Building a resilient organization

Need for organizations to build well-structured and holistic resiliency plans that allow them to respond to multiple crises.

04/09/2024 · 3 minute read

As the world continues to face multiple and interconnected crises, organizations are being challenged to revisit their resiliency plans and ensure that these will respond effectively to today’s emerging and evolving risks.

And considering the fast-changing nature of today’s challenges, resiliency plans need to be risk-agnostic, allowing organizations to be agile in adapting them to the crisis they are facing.

In this episode of Risk in Context, Cathy Cyphus, Head of Risk, Resilience, and Technology for the UK within Marsh’s Advisory Practice, speaks with Nicholas Martin, Head of Strategic Risk Consulting in the Pacific, and Renata Elias, Senior Vice President within Marsh’s Advisory Practice in the US, about the need for organizations to build well-structured and holistic resiliency plans that allow them to respond to multiple crises.

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Key takeaways

Proactive planning is integral to building resilience.

It is important to assess the resilience of your organization and implement measures to help you address and overcome risks before challenges arise. Risk-agnostic resilience plans can help organizations withstand crises and preserve their reputation.

Building resilience requires involvement across the organization.

Building resilience requires a comprehensive approach that involves the entire organization, from top-level executives to frontline employees. This company-wide alignment and integration can help ensure a cohesive response during a crisis.

Resilience goes beyond annual exercises.

Building resilience requires a holistic and integrated approach that becomes ingrained within the fabric of an organization. It requires a mindset shift, collaboration across departments, and ongoing evaluation to proactively identify and mitigate emerging and evolving risks.

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