Advance Blog

March 31, 2022
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Risk Management in an Age of Disruption

Unpredictable waves of the pandemic, geopolitical instability, rapid technological leaps – the instabilities of our globalised world are forcing businesses in virtually every industry to endure serious disruption. Other disruptors, such as a new trade war or a major climate event, could complicate matters even further in the months and years ahead. Although individual companies can do little to prevent such developments, they certainly can and should make preparations.

Disruption is no longer a question of if, but rather when – and how. In recent years, our recruitment agency in Bangkok and Singapore has worked closely with numerous companies, both during and after periods of industry volatility. We’ve used these experiences to identify lessons in four key areas that will help your business survive, and even thrive, during the next period of disruption. They are as follows:

  1. Sustainability

The best way to guard against supply shortages is to make more efficient use of the supplies you have on hand. Hard-to-find materials can often be recycled, sourced locally, or replaced with more common alternatives – any of which can reduce supply chain burdens, particularly during periods of instability.

Companies should explore any and all opportunities to simplify their supply needs. The benefits of this approach in fact spread far beyond risk management; they also tend to result in lower costs, as well as happier customers and employees who increasingly appreciate efforts to implement sustainable business models.

2. Technology

By now, companies everywhere have learned that remote work arrangements are essential when their teams can’t all gather in one place. But other tech solutions can be just as valuable as Zoom and Slack.

Automation and robotics can improve work processes, AI-powered data analytics can spot opportunities for greater efficiency (among other things), and cloud software solutions can provide vastly superior platforms for your company’s digital assets. The more technologically capable your business becomes, the better equipped it will be to handle adverse external events.

3. Logistics

Strong relationships are vital to the success of all business operations. Businesses should pay special attention to their logistics and supply chain team, ensuring not only that their personnel are capable and well-equipped, but that they actively cultivate relationships with a wide variety of suppliers.

If one supplier becomes unreliable, your team should be prepared to pivot quickly to another. They should also be actively forecasting potential disruptions, so that your company is never caught off guard by external events.

4. Talent

Gone are the days of businesses prioritising dutiful, obedient employees for mid-level roles. Though salutary, these characteristics are better suited to a more stable, predictable age. VUCA business environments require agile thinking and assertive leadership, led by teams which are alert to changing conditions and take the initiative to adapt as soon as each new challenge or opportunity presents itself.

Training is essential to this kind of professional development, though companies also need to seek out talent with the skills, experience, and temperament that such situations require.

Our recruitment agency in Bangkok and Singapore continues to help businesses across ASEAN optimise their value chains. Contact us today to find out more.

Connexus Global
Connexus Global pride ourselves in our specialist approach to the Value Chain. Our comprehensive functional research facility located in Bangkok enables us to be consistent with our talent pool growth across the globe for each function within the value chain.