COVID-19 Webcast: Organisational resilience and avoiding decision-making paralysis

Published on 24th April 2020

We are living through an unprecedented crisis with significant impacts to businesses and the economy. The chain reaction of COVID-19 is being felt globally. How your organisation responds locally will have a bearing on how you recover and emerge stronger. You have made some important decisions; there are more decisions to make. Are you comfortable that you are understanding the situation and making the right decisions at the right time?

In a special Marsh webcast on 22^nd April — now available for replay — Simon Levy, Head of Strategic Risk (VIC/TAS) – Client Advisory Services, provided his thoughts on managing the critical moments of a crisis response and how to avoid decision-making paralysis.

Here are some of the key takeaways from the presentation:

• As COVID-19 has evolved, it has challenged organisations’ preparedness and response plans like never before.  Organisations have to move between response and planning simultaneously.
• The critical moments of the response comprises a number of key skills and techniques bringing together the elements of organisational resilience.
• With a greater number of decisions made by smaller numbers, leaders could soon face decision-making paralysis.
• Businesses today need a plan that defines the “who, where and how” to coordinate their responses.
• As external and internal contexts change, organisations should continually assess their exposures to guide future actions.
• Make decisions within a robust decision framework.

Marsh Risk Consulting has solutions available right now to assist businesses with managing their response, understanding their changing risk profile and successfully navigating their way through this crisis and preparing for your recovery.

Please get in touch with your Marsh representative or myself at Simon.Levy@marsh.com, if you would like to know more.