operational resilience
See the following -
Is Environmental, Social, And Governance (ESG) Activity the New ESP?
Harvard Business Review published (January/February 2021) an article How to Talk to Your CFO About Sustainability written by Tensie Whelan and Elyse Douglas, both associated with the NYU Stern Center for Sustainable Business. This excellent article opens assuming a universal commitment by corporations to some level of environmental, social, and governance (ESG) activity. It further suggests a universal impression most Chief Financial Officers (CFOs) view such commitments as "a cost rather than a source of value." This impression resonated with me as a resilience and risk practitioner.
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Rock Around The Resilience Wheel - Continuity of Operations Through Disruptive Change
As 2020 comes to a close we are still faced with myriad issues pertaining to public health, elections, economic duress and recovery, unemployment, and living under persistent, pendular change. Resilience has become a popular buzzword to get through these times but is utilized to mean very different things to people looking through very different lenses. Diverse definitions are great but at some point, at some higher and comprehensive perspective, a bow must be put around a common resilience baseline. In layman’s terms, resilience is getting through disruptions and change with some foresight and planning. Resilience matters regardless of the lens you are viewing it through. Covenant Park has coined several catchphrases over our several decades of resilience, risk, continuity, emergency management, security, and national and international planning and execution. Some of those phrases include:
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What Can We Learn from a Big Boat Stuck in a Canal?
...The answer to addressing the problem of thinned out supply chains is to recognize that hyper-efficient globalization inherently carries the downside of unpredictable shortages, geopolitical tension, and supply disruptions. And then redesign our global trading order to make it less efficient and more resilient. There are three basic changes we'll need. First, we need to restore anti-monopoly rules, such as antitrust, to prevent the consolidation of production and distribution in the first place. Second, we should re-impose friction, like tariffs, in global trading so that we relocalize production. Trade is generally a good thing, but every country or geographic bloc should be able to provide itself with the essentials, in case there are disruptions. Third, we should rapidly restructure the way that firms finance themselves, so that they have less debt. Debt is a cruel taskmaster, and it leads CEOs to cut deeply not just into fat but into muscle and bone.
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