How does your country fare in the 2020 FM Global Resilience Index

Australia is 17th overall in the 2020 FM Global Resilience Index, yet we are 22nd in Supply Chain resilience.
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Some of the indicators show more work is needed around Productivity. Here we are in a BAD state – we have given away our ability to manufacture. Instead, we dig stuff up/grow it, sell it to make a small profit, then we BUY it back at a huge price after it has had ‘value’ added. Economics-101 tells you that is a dumb idea.
Then there is our Corporate Governance (hmm, maybe this one applies to corporate AND Government) & Infrastructure – things we have just ignored or because there are some who didn’t want us to see, either way. we are now realising these also bite if not monitored and kept up to standard.
There are less insidious ones, for example Exposure to Natural Hazards. We are aware of these, we just need to do more about working to reduce the risk. And this is the sad thing, we just got so apathetic on preventing unnecessary outcomes from fires, floods and storms. 
There are two we need to keep an eye on as they are based on outside forces: specifically our reliance on imported oil – we only have a stockpile of around 26-30 days. Options being proposed will not address the need if we start running out (if there was a double hit covid-19 AND an oil shortage – Australia will not slow down, it STOPS.
The other issue to watch is our cyber-security, as an island nation, a long way from the rest of the world, a catastrophic cyber hijacking or cyber war, or whatever, would be devastating
Ok, I agree, we are doing well compared to the whole data population but compared to Western countries we are in a dismal state – how could AU be so far behind NZ and UK in Supply Chain?  Location has nothing to do with it as NZ and UK are on opposite sides of the planet! (Its rhetorical – I am sure there are plenty who would love to comment).

When compared to a couple others:

  • Norway = 1st Overall / 12th Supply Chain
  • Singapore = 22nd Overall / 1st Supply Chain
  • United Kingdom = 13th Overall / 4th Supply Chain
  • New Zealand = 15th Overall / 6th Supply Chain
  • Australia = 17th Overall / 22 Supply Chain
  • Indonesia = 80th Overall / 63rd Supply Chain

 

If you want to find out about your country or more data on Australia visit the source: https://lnkd.in/gZ_NjZU

 

 

How does business recover from CV19? – What they are saying

A common theme I am reading for any business trying to phoenix back from corona virus is the relationship between the business leaders/owners and the staff. Many are saying the future for companies will be based on the trust between the employer and the employees. It will be this trust that will enable companies to source knowledge and ideas that will either differentiate them from their competitors or allow the company to improve its ROE (return on effort). Having a few good ideas will no longer cut it as many of these will be based on pre-covid-19 virus (CV19) models. Ideas will need to be uninhibited, dynamic and rapid. The “I know best” attitude will become the antithesis to gaining ground after the CV19 period, it will probably even be before that.

Another theme is to use this change in business dynamics and market to take or even make your own opportunities. Business will not be the same as it was, for a multitude of reasons, so waiting to see what happens will be a bad decision> some businesses are now in survival mode, they are in their death throws and there may be nothing they can do if they stay the same. It will not be a case of jumping on the band wagon and make masks, or hand sanitiser. Yes, they were good ideas at the time but after CV19 is gone something else needs to take its place.

And many are talking of the change in relationships, people will begin to be more aware of others, to help and to care what happens in their community (at least a lot more than before CV19). There is also a lot of conversations at all levels – including Govt – about the need to acknowledge those who actually carry and hold up the economic and social world we live in, the nurses, the teachers, the supply chain people as well as the emergency service personnel – all those who have been typically paid the least. It behoves humanity to look after all those who add so much value for so little compensation.

More, very valid and informative information and articles have been written. I have found the following great, some have been enlightening:

After coronavirus: ‘We can’t go back to business as usual’  https://www.theguardian.com/money/2020/apr/04/coronavirus-business-finance-work-property

Why companies need a role-based model in the Covid-19 paradigm
https://economictimes.indiatimes.com/jobs/why-companies-need-a-role-based-model-in-the-covid-19-paradigm/articleshow/75139253.cms

How To Reinvent Your Business To Thrive After The Coronavirus https://www.forbes.com/sites/tedladd/2020/03/26/how-to-reinvent-your-business-to-thrive-after-corona/#6b0675e043e2

How the Coronavirus Is Already Rewriting the Future of Business
https://hbswk.hbs.edu/item/how-the-coronavirus-is-already-rewriting-the-future-of-business

COVID-19: Implications for business
 https://www.mckinsey.com/business-functions/risk/our-insights/covid-19-implications-for-business

Coronavirus: your guide to winners and losers in the business world
https://theconversation.com/coronavirus-your-guide-to-winners-and-losers-in-the-business-world-134205

Finding the Hidden Business Opportunities Around the Coronavirus Pandemic
https://www.inc.com/david-finkel/finding-hidden-business-opportunities-around-coronavirus-pandemic.html