"You can't extract operations and strategy and look at them differently"
Ahead of teissR3 | Resilience, Response and Recovery Online Summit 2020, Dr Sandra Bell, CEO and Founder of the Business Resilience Company, talked to Jeremy Swinfen Green about the "new normal" for risk and resilience professionals and the holistic approach needed in a post-COVID-19 world.
teissR3, taking place 15th - 24th September 2020, is the leading event focusing on how you improve your organisation’s cyber resiliency and adopt best-practice in incident response and crisis management in a post-COVID-19 world. Register your place by clicking here.
Hello. Today at teiss we are talking to Sandra Bell who is the founder of the Business Resilience Company. Hi, Sandra.
Hi. Hello, Jeremy.
Well, my first question to you is after the pandemic, what will the new normal be for risk and resilience professionals like you? What will things look like?
Well, I think there's two things, two major changes that we've seen during the pandemic. The first one is that there has been a sort of bigger awareness about what sort of resilience, enhancing capabilities, such as business continuity and risk and operational resilience, what those actually are and more importantly, what they're not.
And so I think there is-- we'll see that greater awareness coming through. But the other, the second, which is way more important I think, is that there's been a full realisation I think that you can't just look at operational disruptions on their own.
So if we come to things like business continuity and operational resilience, they are tailored for operational disruptions rather than big strategic risks to the organisation. And if you think of something like the pandemic, one of the biggest things that happened, and very early on, was that a lot of organisations, especially if they-- it's 4,500 or so, actually their share prices plummeted in January.
And this was way before they had any supply issues. And the reason for that was that a lot of them have a direct link and a direct dependency on Wuhan, use a primary supply from there. And so shareholders were getting a bit twitchy.
And when you couldn't-- when these companies couldn't come back and say, actually, no, we've got it all sorted, then they were seeing a strategic impact way before they were getting any operational impact. So you can't-- what we'll see is you can't extract operations and strategy and look at them different.
You need a holistic approach.