Many companies question if they have the financial capital reserves to deal with a major loss or crisis, but how many are asking if they have the necessary social capital.
That was one of the key messages coming out of a breakfast seminar organised by LINK Associates International last month. Held suitably in the Churchill War Rooms underneath Whitehall, the seminar, entitled Challenges and Future of Risk and Resilience Management, brought together crisis managers from the public and private sector as well as academics specialising in business continuity and resilience.
The presentation by the academics stimulated a lively debate among the delegates, many of whom said one of the great benefits from the morning was to meet people who could, in the words of one senior manager, “end up in the same boat as me.”
Exchange of information between organisations and sectors was seen as a central ingredient in building resilience. It was decided that connecting knowledge and co-ordinating crisis plans could become a self-promoting activity within social networks, the so-called investment in social capital.
The delegates agreed that companies do not operate in a vacuum and it was seen that a critical sign of maturity was the sharing of plans, exchanging “top tips”, coupled with a confidence to foster inter-organisational learning about crisis management. Crisis simulations and rehearsals were seen as one of the best means to accelerate maturity.
To request a copy of the summary of the breakfast seminar, please email Salma Sabir. For more details on our training centre, please visit our website.
New London Crisis Simulator
Immerse your strategic and executive teams in realistic simulation 3 minutes walk from the Tower of London. LINK’s new crisis simulation suite at St. Katharine Docks, London, replicates the inputs, resources and distractions senior management teams will experience in real-life.
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