ERM: Enterprise Resilience Management

by Mark Rowe

The business body Resilience First is running a webinar on Enterprise Risk Management (ERM). As the organisers say, in the book Team of Teams (2015), in a foreword the author, the retired US general Stan McChrystal, stated that ‘Management models based on planning and predicting instead of resilient adaptation to changing circumstances are no longer suited to today’s challenges.’ The impact of Covid-19 has simply accelerated that change, adds Resilience First.

The nature of risk, with its frequently unknown origins and the scale of its potential disruption, makes traditional approaches to risk i.e. structured, standardised, and historical, appear redundant.

Hence the webinar from 4pm on Thursday, December 4, with software firm Fusion Risk Management, to examine what a fresh approach may look like. The need to improve horizon scanning (situational awareness) with better early-warning systems on, say, disease and migration; the requirement to focus on sustainability and mitigation based on consequences rather than causes; the desire to find better ways of enhancing preparedness – the new competitive advantage – and boost deterrence are all urgent. The imperatives suggest that a revised acronym could stand for Enterprise Resilience Management.

This free to attend hour-long event is the forerunner to a white paper for release in early 2021. Chair of the panel is Bob Sibik, Co-Founder and Senior Vice President, Fusion Risk Management.

Speakers invited are Lord Harris, President of Institute for Strategic Risk Management (ISRM) and Advisory Board Member of Resilience First; Dr Pippa Malmgren, former US Presidential advisor and a prominent public speaker; and Thomas Wallace, Partner in London, at the management consultancy McKinsey and Company.


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