Building Business Resilience
March 29, 2021
Over the past year, the risk of a global pandemic became a reality. As businesses and societies assess the damage imposed, it is clear that strengthening strategic planning is now more important than ever for individuals and their businesses.
For businesses, the economic, technological and reputational pressures of the current circumstances risk a disorderly shakeout, which threatens to create a significant amount of workers and companies that are left behind in the markets of the future
The World Economic Forum’s Global Risks Report for 2021 details that the business industry is facing disruption and uncertainty from many angles. The report highlights the Top Global Risks by Likelihood as well as by Impact, the top 3 risks for each category are as follows:
- Top Risks by Likelihood – Extreme Weather, Climate Action Failure and Human Environmental Damage
- Top Risks by Impact – Infectious Disease, Climate Action Failure, Weapons of Mass Destruction
These long-term risks have businesses wondering on how to be prepared for the unknown, how to survive and how to build resilience. To build and maintain resilience, it is important that businesses keep an eye on potentially high impact events in the short-term and on the longer-term landscape.
The business landscape is becoming increasingly more unpredictable due to the uncertainty and confusion of the pandemic. The need for businesses to become adaptive and reactive to constant change is more important than ever, as well as being prepared to respond effectively to future risks.
What can Gow-Gates do for you?
In the current environment, it has never been more important to ensure your business has the appropriate tailored coverage to assist in mitigating potential risk.
At Gow-Gates we know and understand risk. For over 50 years we have been a leader in Insurance Broking and Financial Services. We have some of the most experienced brokers in the industry whose core strengths include risk management advice, exceptional service and an unwavering reputation for integrity in local and international insurance markets.
Insuring your business needs to be a priority.
Our team can provide specialist advice and support to ensure you and your business are protected. At Gow-Gates we are committed to supporting you so that you can focus on your core business.
Please don’t hesitate to contact our specialist brokers, to discuss the management of your risk exposures.