A Comprehensive Best Practice Approach to Business Resilience and Risk Mitigation

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To build a comprehensive strategy for risk mitigation organizations need to take a comprehensive and methodical approach to risk mitigation to ensure their business continuity and livelihood. Such an approach needs to evaluate and address the priorities and capabilities of the business along three risk mitigation dimensions:

  • Risk reach and range -- Understanding the risks that an organization has and the impacts, or reach and range, of those risks both inside and outside the company.
  • Resilience framework -- What is the resilience of the current environment to mitigate the identified risks? What are the organization's specific areas of vulnerability and what capabilities does it currently have to predict, prevent and recover from risks?
  • Resilience strategy -- What is the appropriate strategy to respond to the organization's risks? What is necessary to improve the resilience of the current environment and achieve the desired state of resilience?

This white paper serves as a comprehensive, best-practices approach to business resilience and risk mitigation. Common types of risk and the steps organizations must take to develop an effective risk mitigation strategy are discussed.
Feb 8, 2021
Sep 1, 2007
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