Resilience: winning with riskFollow @PwC_LLP
I’ve just read that much of Pakistan was plunged into darkness for two hours on Sunday when the nation’s electricity network broke down. The government blamed the electric companies, and the companies blamed underinvestment in infrastructure. But, regardless of who was at fault, both daily life and ‘business as usual’ were disrupted without warning.
On this occasion the fault was a technical one, but according to one news report, the extensive nature of the blackout caused some to fear there’d been a terrorist attack or a military coup. Thankfully there hadn’t, but it’s a reminder of the interconnected and global nature of the changes and challenges that test a nation’s, an organisation’s or an individual’s resilience.
In the third issue of PwC’s Resilience: Winning with risk – which launched at our CEO and Chairman breakfast in Davos during the World Economic Forum (WEF) Annual Meeting – Lee Howell of the WEF introduces a framework for evaluating country resilience. Whether you’re involved in strategising about global growth or in managing global risks, and whether you’re a business person, policymaker, or academic, this article – and the rest of the issue – is a provocative and important read for you. The issue also includes perspectives from:
- Practitioners on the ground confronting political, social and environmental change (including PwC authors analysing social unrest in Egypt, economic uncertainty in Japan, a superstorm in the United States, the impact of climate change on supply chains, and the attitude of private equity toward social investing).
- Experts pursuing market solutions to systemic challenges (including the Wharton Risk Center’s Erwann Michel-Kerjan on innovative financial instruments to strengthen disaster resilience, and a preview of a UN-PwC disaster risk reduction framework).
- CEOs formulating growth strategies against a landscape of challenging global risks (including insights from an interview with National Grid’s Steve Holliday and excerpts from interviews with several other global CEOs, conducted as part of PwC's 16th Annual Global CEO Survey).
To borrow from the title of the Holliday interview, I hope Resilience: Winning with risk helps you “keep the lights on” in your organisation and its operating environment. I look forward to hearing what you think about it and welcome your comments.
Global Risk Services Leader
Email: Dennis Chesley