Globally business resilience is improving, but in the UK Brexit is distracting from innovation, says BSI’s Howard Kerr.
Business leaders have taken significant steps to improve the resilience of their organisations, as high levels of political and economic uncertainty mean that executives are putting renewed focus on governance. At the same time, innovation has slipped down the list of priorities for businesses in the UK, potentially leaving them exposed.
Our annual Organisational Resilience Index surveys 800 firms around the globe, assessing them against 16 elements derived from international standards of best practice relevant to resilience.
Encouragingly, in the past year businesses have become more aware of the importance of resilience – defined as the ability to anticipate, prepare for, respond and adapt to either incremental or sudden change. But leaders are wary about the future and are shifting focus from internal risks such as product and service innovation, to external changes such as regulatory regimes and new technologies.
Differing priorities
Technological challenges emerged this year as the most significant source of risk, identified by more than
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