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Covid-19 presents significant challenges to people and organisations around the world, and as the disruption continues to evolve, it’s important that organisations remain alert and agile and prepared to respond as the context changes.
The purpose of this report is to explore the challenges organisations have faced during the Covid-19 crisis, highlight lessons learned and still being learned, and make suggestions for changes to crisis management practice to build resilience – whatever the future might hold. The report is aimed at Airmic members who have a responsibility for organisational resilience, as well as their top management, their peers within their organisation and external stakeholders.
The report uses information from a meeting of the Airmic risk management special interest group in May 2020, a ‘pulse survey’ survey of Airmic members conducted in August 2020 with a focus on pandemic crisis management, as well as other sources of contemporary information, including Airmic partner Control Risks.
This report assumes that a pandemic is not a ‘black swan’ risk. The black swan metaphor has promoted a mentality and sense of helplessness in the face of daunting threats and provided a cover for failing to act in the face of clear and present dangers.
In 2020, the World Economic Forum identified infectious disease on the dimension of potential impact in its Long-Term Risk Outlook Top 10 – disease has been on the equivalent list for over ten years.1
When Airmic members were asked in March 2019 to draft their ‘Nightmare Headline’, a pandemic featured.2
In September 2019, CNN reported: “The risk of a global pandemic is growing – and the world isn’t ready, experts say.” 3
1 Global Risks Report – World Economic Forum 2020, reports.weforum.org/the-global-risks-report-2020
2 Guide to Emerging Risks – Airmic 2019
3 Global Pandemic is Growing – CNN 2019, https://edition.cnn.com/2019/09/18/health/who-pandemic-report-intl-hnk-scli/index.html