Author David Carlson ,
U.S. Manufacturing & Automotive Practice Leader
Manufacturing and automotive companies are accustomed to operating in rapidly evolving and challenging conditions. However, the COVID-19 pandemic exacerbated their operating environment further highlighting the need for these companies to pay increased attention to their enterprise risk management, business resiliency and continuity plans.
Organizational resilience encompasses more than business continuity planning and the capacity to absorb negative events. Beyond the ability to recover quickly from and respond to events, resilience enables organizations to both foresee upcoming threats and capitalize on opportunities.
A risk resilient organization is able to minimize losses and quickly resume business as usual following an event — and more. A risk resilient organization has a strategic competitive advantage over less-prepared peers because it seizes growth opportunities during times of operational and/or financial stress. Earlier this year, Marsh surveyed over 1,000 global clients across 30 industries on their resiliency strategies and revealed four key steps companies can take to build a more resilient business in our recently published Marsh Risk Resilience Report.
You can start taking action to address your company’s key resiliency pain points by downloading our resiliency planning guide created specifically for manufacturing and automotive companies.