Where should I start with prioritising my resilience initiatives?
Spending time and limited money on resilience can be hard. It’s helpful to use your materiality thresholds (Financial/Operational/Sustainability) to help identify where the bigger areas of vulnerability are. When doing the assessment, it’s also important to look through the entire value chain and business model (e.g., don’t just focus on business operations, also consider any gaps in supply chain weakness, stakeholder resilience, and even customer resilience to potential price increases for your key products). You don’t need to focus on everything, just use the relevant views of materiality to put in frame what matters most to the business and use that framework to help guide your prioritisation activities.
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