Ramesh Pillai, Chairman of IERP’s Board of Governors, recently delivered a keynote presentation on Achieving Organisational Sustainability, Agility and Resilience Through Effective ERM at the two-day virtual Risk Forum jointly organised by the IERP® and Brunei Institute of Leadership & Islamic Finance (BILIF). The presentation gave a quick overview of several aspects of ERM, and how users should leverage on its principles to develop sustainability, agility and resilience in their organisations, in these uncertain and disruptive times.
Besides covering its dynamic interconnections with these organisational must-haves, Ramesh’s presentation also pointed out some business and sustainability initiatives, and how to integrate the ERM process with strategy. A proactive approach was required for the long term, he said, and involved optimising resources and reducing impacts. There was a need to think broadly while engaging partners and stakeholders. Businesses should consider value over profits, and take into account the points of view of all stakeholders.
Firms should have concrete plans that include a thorough understanding of their stakeholders’ needs and wants. This understanding should be extended throughout the organisation, so that everyone realises where, when and why value should be added.
24 The IERP® Monthly Newsletter December 2021