The giant plume of ash that erupted from Iceland's Eyjafjallajokull volcano has been one of the most disruptive events for business in recent history. The economic impact has been felt all over the world, and as the volcano continues to emit ash, the total loss of value to organisations in every sector is still yet to be determined.
Many customer value and supply chains across different sectors of the economy were unable to respond quickly and efficiently in light of the massive travel disruption. Businesses experienced disruption despite significant investments in business continuity and disaster recovery planning.
While organisations are now recovering from the short-term impact of the volcanic ash crisis, the threat of continued volcanic eruptions and other unexpected events demands a strategic approach to embedding true resilience in an organisation. In doing so, organisations can manage business risk, respond positively to unexpected events and pursue emerging opportunities.
Our approach helps organisations identify their resilience priorities and integrates the multiple capabilities needed to achieve resilience. We do this by bringing together a range of specialist skills and in-depth industry expertise, working both within the organisation and across its value and supply chains.
Businesses that fail to learn the lessons of volcanic ash and embed resilience across their organisation may find themselves at a competitive and financial disadvantage when the next unexpected event happens.
To find out more about assessing and creating resilience in your business, please contact us now.