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Businesses will need to shift their focus from traditional risk management to building resilience so as to drive enablement and build trust.
Consider the disruptions confronting businesses: a rapidly changing business landscape, digital and technology innovation, threats from non-traditional competitors, increasing cyber risks, rising customer expectations and demands for personalization. Boards and senior management recognize that the goalposts, the players – and even the rules of the game – are changing. What has not changed is the need to reduce the probability and impact of disruptions while looking for ways to be responsive and resilient.
It is common for organizations to have developed policies and capabilities in the areas of risk management, business continuity and disaster recovery. While these mechanisms may have been effective in managing one-off or occasional interruptions, how will businesses navigate today’s environment where disruption is constant and transformative?