McKinsey on Risk & Resilience: Managing Risks to achieve Resilience
Welcome to the latest issue of McKinsey on Risk & Resilience, now a subscription-based, quarterly publication featuring the latest trends, research, insights, and best practices related to financial and nonfinancial risks, and how to build and strengthen business resilience in an ever-evolving world.
Pandemic Preparedness: Building Resilient Health Systems for Business Continuity
The article "Pandemic Preparedness: Building Resilient Health Systems for Business Continuity" examines the need for robust health systems and business strategies during health crises. It emphasises lessons from COVID-19, highlighting key areas such as health system resilience, governance, preparedness, community engagement, technology, and business continuity planning. The article stresses a holistic approach integrating health system strengthening with business continuity.
Navigating the Regulatory Maze: Building Resilience in an Ever-Changing Compliance Landscape
This article examines challenges and strategies for managing regulatory changes in business, emphasising resilience in compliance frameworks. It highlights dedicated teams, technology use, compliance culture, and regulator engagement. Key insights include the benefits of specialised teams, AI-powered tools, strong compliance cultures, agile methodologies, and regular risk assessments. The article stresses proactive approaches and viewing compliance as a strategic imperative.
Operational Flexibility: The Cornerstone of Business Resilience
This article examines operational flexibility's vital role in business resilience, emphasising its importance in navigating unforeseen events and seizing opportunities amidst disruption. It focuses on supply chain resilience, workforce adaptability, technological agility, and financial flexibility. Key insights include scenario planning, digital transformation, cultivating agility, flexible operational models, and leveraging partnerships. The article stresses the need for clear metrics and addresses implementation challenges, concluding that adaptability is crucial for thriving in an uncertain business landscape.
Talent Tug-of-War: Mastering Resilience in the Battle for Top Performers
This article examines talent management challenges in a competitive labour market, highlighting strategies for attracting and retaining skilled professionals. Key focus areas include embracing skills-based management, fostering continuous learning, enhancing employee experience, implementing effective performance management, developing a strong employer brand, and proactive succession planning. These strategies help organisations secure a sustainable competitive advantage in the battle for talent.
Navigating the Digital Frontier: How Transformation Builds Unshakeable Business Resilience
Digital transformation and AI are crucial for enhancing business resilience in today's volatile environment. Organisations must leverage technology to thrive amidst disruptions and competition. Digital resilience enables anticipation and adaptation, while AI provides real-time insights for decision-making. A structured approach to digital transformation improves operational efficiency. Continuous investment in technology and skills is essential for maintaining competitiveness in an unpredictable world.
Quantifying Organisational Resilience: An Integrated Resource Efficiency View
Organisations are increasingly exposed to risks from globally disruptive events, triggering interest and new research into organisational resilience. Several levers to increase resilience are defined in the literature but organisations still find it challenging to prepare for the next disruption. This study contributes to the resilience literature by drawing on the integrated resource efficiency view (IREV) framework to measure four levers of organisational resilience and derive an organisational resilience index (ORI)......
Establishing Organisational Resilience through developing a Strategic Framework for Digital Transformation
Purpose – The purpose of this paper is to present a strategic management framework for a successful digital
transformation (DT) roll-out aimed at enabling organisational resilience. The study aims to identify the critical areas of consideration for management to strategically approach DT in order to build resilience.
The Mediating Role of Levers of Controls on the Association Between Sustainable Leadership and Organisational Resilience
This study examines the mediating role of Simons’ (Levers of control: How managers
use innovative control systems to drive strategic renewal, Harvard Business
School Press, 1995) levers of control (belief systems, boundary controls, interactive use of controls, diagnostic use of controls) on the association between sustainable leadership and organisational resilience.
Nonprofit Organisational Resilience: Proposing a Conceptual Adaptive Capacity Framework
Nonprofit organisations (NPOs) play a key role in resolving the challenges and
inequalities prevalent in South Africa; however, turbulent events have led to existential concerns for many NPOs. It is important to understand how NPOs can augment their organisational resilience to mitigate existential concerns.