COLUMNS

Creating a Resilient Business in a Risky World

Dec 10, 2019 | 09:00 GMT

Passengers exit an EgyptAir Airbus A-320 sitting on the tarmac of Larnaca airport after it was hijacked and diverted to Cyprus on March 29, 2016.

Passengers exit a hijacked EgyptAir plane in March 2016. After seizing control of the Egyptian airliner, the hijacker diverted the plane to Larnaca International Airport in Cyprus. 

(GEORGE MICHAEL/AFP via Getty Images)

Highlights

  • To be resilient in the face of constant threats, companies and organizations must have a cohesive and comprehensive policy that outlines how much risk they're willing to incur in pursuit of their mission.
  • Under this framework, every stakeholder can then begin to understand and anticipate risks when pursuing new business leads or working in potentially dangerous areas abroad.

There is, unfortunately, no such thing as "total security." Every action we do or don't take throughout each day carries some degree of inherent risk. If I decide to go for a run, I could twist my ankle or be hit by a car. But opting not to go on a run may also increase my chances of developing cardiovascular disease. The same principle applies to businesses and organizations. Local criminals, corrupt politicians or trade wars could jeopardize an overseas investment. But forgoing the opportunity altogether may also mean missing out on a large windfall.  We all too often hear cautionary tales about the businesses burned from flying too close to the sun. Yet no company ever made a name for itself by staying on the ground either. Indeed, to live is to risk. And because of this, you can't and shouldn't try to avoid every threat. It is, however, possible...

Keep Reading

Register to read three free articles

Proceed to sign up

Register Now

Already have an account?

Sign In