The lingering impacts of the COVID-19 pandemic are a stark reminder for Boards of the need to pivot quickly and manage unexpected risks through ongoing scenario planning.
What can be learned from our COVID-19 experiences as we move into a wider set of uncertainties including rising inflation and interest rates, global supply chain disruptions, labour shortages and fundamental changes to the ways many employees work? The experience of the global pandemic represents a crisis for Boards today in supporting management to refocus the company’sstrategy. In the face of uncertainty, there is significant value in Boardsperforming more strategic scenario analysis.
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Organisations and their Boards need to effectively identify, understand, implement and manage regulatory and compliance obligations in a way which meets the needs of all stakeholders –customers, regulators, employees, shareholders and the community.
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