Resilience: Difference between revisions
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imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add quote. Source - The Treasurer online 8 July 2021 - https://www.treasurers.org/hub/treasurer-magazine/act-deals-of-the-year-awards-2020-corporate-finance) |
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2. ''Risk management - organisations and systems.'' | 2. ''Risk management - organisations and systems - finance.'' | ||
The ability of organisations or entire systems to recover from major problems, or to withstand adverse external conditions. | The ability of organisations or entire systems to recover from major problems, or to withstand adverse external conditions. | ||
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Examples of major problems include climate change, natural catastrophes, cyber-risk, financial market shocks and stresses. | Examples of major problems include climate change, natural catastrophes, cyber-risk, financial market shocks and stresses. | ||
:<span style="color:#4B0082">'''''Rolls-Royce bolsters financial resilience'''''</span> | |||
:"With the aviation sector decimated by COVID-19 and an entire staff base working from home, Rolls-Royce, which generates around 50% of its annual revenue from civil aerospace, undertook swift action to conserve cash and bolster liquidity through a series of complex transactions in the second half of 2020. | |||
:The deals stemmed from overarching aims to: | |||
::1. provide financial resilience and strong liquidity headroom to see the business through any severe but plausible downside scenarios on the recovery in air transport..." | |||
:''ACT Deals of the Year Awards 2020 - Rolls Royce'' | |||
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* [[Capital Conservation Buffer]] | * [[Capital Conservation Buffer]] | ||
* [[Commercial drive and organisation]] | * [[Commercial drive and organisation]] | ||
* [[COVID-19]] | |||
* [[Downside]] | |||
* [[Emotional intelligence]] | * [[Emotional intelligence]] | ||
* [[Equifinality]] | * [[Equifinality]] | ||
| Line 50: | Line 62: | ||
* [[FOMO]] | * [[FOMO]] | ||
* [[Growth mindset]] | * [[Growth mindset]] | ||
* [[Headroom]] | |||
* [[Influencing skills]] | * [[Influencing skills]] | ||
* [[Liquidity]] | * [[Liquidity]] | ||
Revision as of 14:59, 15 July 2021
1. Behavioural skills.
The ability of individuals to recover from difficulties or to withstand external pressures.
Practise resilience
- Resilience is the best tool for when your environment changes, and this is a skill that can be learned.
- Six ways to practise personal resilience:
- Attitude – understand your motivational state and how to change it
- Responses to stress – awareness enables control
- Commitment – what are your motivations?
- Control – understand what can and can’t be controlled in your environment
- Relationships – maintain clear and consistent communication
- Health – mental and physical
- Four ways to practise personal resilience during COVID-19:
- Maintain boundaries between home and work especially when working from home
- Be transparent
- Manage your positivity
- Look out for verbal and non-verbal clues in your work relationships
- Association of Corporate Treasurers, Mental wellbeing and top tips for thinking in a resilient way, May 2020
2. Risk management - organisations and systems - finance.
The ability of organisations or entire systems to recover from major problems, or to withstand adverse external conditions.
Examples of major problems include climate change, natural catastrophes, cyber-risk, financial market shocks and stresses.
- Rolls-Royce bolsters financial resilience
- "With the aviation sector decimated by COVID-19 and an entire staff base working from home, Rolls-Royce, which generates around 50% of its annual revenue from civil aerospace, undertook swift action to conserve cash and bolster liquidity through a series of complex transactions in the second half of 2020.
- The deals stemmed from overarching aims to:
- 1. provide financial resilience and strong liquidity headroom to see the business through any severe but plausible downside scenarios on the recovery in air transport..."
- ACT Deals of the Year Awards 2020 - Rolls Royce
See also
- ACT Competency Framework
- AMCT
- Black swan
- Business skills
- Capital Conservation Buffer
- Commercial drive and organisation
- COVID-19
- Downside
- Emotional intelligence
- Equifinality
- Event risk
- Executive coaching
- Financial Policy Committee
- FOMO
- Growth mindset
- Headroom
- Influencing skills
- Liquidity
- Mind map
- Self management and accountability
- Self-regulation
- Silo
- SMART
- TCFD Recommendations
- Technical skills
- Wellbeing
- Working effectively with others
Other links
How to read your own emotions and develop resilience, The Treasurer, 2019
