In an environment of rapidly evolving risks, merely anticipating risk is not enough: Organizations also need to focus on building resilience to effectively manage risk and to position themselves for long-term sustainability, says the chief executive of Willis Group Holdings.
Speaking at the 2012 World Captive Forum, Willis Chairman/CEO Joe Plumeri said hallmarks of a resilient organization include acknowledging the difficulty of predicting so-called "black swan" events. Organizations need to operate in a dynamic fashion to make adjustments in real time when a catastrophe strikes while simultaneously preparing for the future, he noted.
"In order for companies to build resilience, they need to ask themselves: Will we be here in 10 years? Will we be here in 50 years?" he said.
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