resilience reporter

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Increasing Your Business’s Recession Resilience

BS67000: setting the standard for city resilience

City resilience is critically important to economic, organizational, and community well-being. This has been recognised by the development of a standard for city resilience by the British Standards Institution. Robert Hall looks at the new BS67000 standard.

Led by Caroline Field, the Head of Resilience at Thornton Tomasetti, the committee formed to develop the new standard – a diverse group of consultants, city representatives, government officials, agencies, infrastructure providers and academia – has considered how resilience can help a city achieve its strategic ambitions, and thrive rather than just survive.

Perspectives on resilience have changed over time: what began as developing resilience (reactive to events) moved to maturity (horizon scanning, prevention and sustainability) and in highly resilient cities the thinking is now pioneering: agile, with resilience in the round…

 

Increasing Your Business’s Recession Resilience

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“Consider personnel: taking steps now to bolster workforce morale may help avoid ill-will during downtimes”

Economists worry about a recession in the next year. (E.g., per Fortune, NPR , CNBC, and MarketWatch.) Whenever the next downturn arrives, businesses should be prepared for increased litigation and regulatory action. Start now by updating contract terms to anticipate tighter budgets and by preparing your team for scrutiny from regulators, customers, and counterparties.

Downturns Yield Upticks

Increased litigation and regulatory activity typically accompanies recessions. Revenues slow, forcing businesses to reevaluate their contracts. Stock prices fall and disgruntled investors pursue shareholder and derivative claims, as well as actions against advisers and brokers. Political pressures prompt rigorous investigations by regulators and self-regulatory organizations. Budget reductions compel layoffs, and unhappy ex-employees level blame, and legal claims, at former employers. Bankruptcy filings trigger litigation over receivables, and disputes erupt over earn-out provisions in M&A agreements. Even businesses lucky…

 

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This entry was posted on 11/02/2019 by in Uncategorized and tagged .

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