Business resilience

Business resilience aims to strengthen our business, supporting our growth strategies by identifying risks and opportunities and enhancing our ability to respond to disruptive events

Our geographic diversity provides attractive growth opportunities and reduces our dependence on any particular market. However, the very breadth and size of our footprint means that our business environment may be affected by volatility, uncertainty, complexity and ambiguity.

What is business resilience?

Business resilience today is no longer about recovery. We acknowledge that we need to:

  • Understand our risks and opportunities and adapt based on experience and changing circumstances (enterprise risk management)
  • Use exceptional internal and external risk radar to detect changes in our operational environment (business and operational risk monitoring)
  • Build strong functional collaboration networks, both internally and externally
  • Work proactively to minimise exposures, leverage opportunities and transfer risk (security and fraud control, with an understanding of local risks and exposures, insurance coverage)
  • Be able to respond rapidly and decisively to an emerging crisis (emergency response planning through our Property Loss Prevention Programme; crisis management; business continuity management)

Our approach to business resilience

Our approach draws together the various elements that will:

  • Protect our business
  • Support our growth through identifying risks and opportunities
  • Enhance our response capabilities to change and crisis

Our business resilience vision is to deliver a best-in-class business resilience model that identifies opportunities, supports growth, drives sustainability and creates value for our business and stakeholders.

Our business resilience framework covers seven areas: enterprise risk management, fraud control and security, insurance, property loss prevention, IMCR (incident management and crisis resolution), business continuity and disaster recovery. Some of these areas aim to prevent and transfer risk; the others to respond adequately to risk.