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Seven ways to build resilience to future crises

Here are seven lessons you can learn today to strengthen your firm’s resilience in the face of future emergencies

Learn the lessons of COVID-19 and whether the next disaster is climate change, earthquake, economic slump or another devastating virus, you’ll be ready to handle it, says Thomas A Lawson, president of $5.6bn mutual insurance company FM Global. Writing for Chief Executive, he identifies seven lessons that will boost your risk management and planning skills for the next crisis.

  1. Consider your supply chains. Geography plays a big part in your company’s capacity for survival when facing a serious global issue like COVID-19. If your chain involves suppliers, facilities or key markets in countries or regions that have shown less resilience during the pandemic, look for alternatives as part of your recovery strategy. Having a strong back-up plan is crucial.
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Credits:
Source Article: Critical Lessons CEOs Are Learning In The Crisis
Author(s): Thomas A Lawson
Publisher: Chief Executive