This masterclass recognises there are
uncertainties that companies face in today’s environment of Covid-19 and
lockdowns in many countries, as well as the resulting secondary risks. As such,
this class presents three ideas: The first is using scenario planning to decide
what you need to do collectively as an organisation to be prepared for the
future, no matter what scenario unrolls. The second is risk management, which
means (a) identifying the risks, (b) assessing these risks, (c) mitigating
these risks, and (d) being prepared to respond to the risks. There is plenty of
unclear language associated with risk management, so this aspect should help
clarify some of the language. Finally, the class discusses what is means to be
better prepared to respond to risk incidents if and when they occur. The
masterclass is not specific to Covid-19, but this is as good a time as any to
use the ideas presented here.
