The simple and free online tool EY Resilient Enterprise helps executives comprehensively measure their firm’s resilience, accurately identifies the most risky areas of business and finds room for improvement. Entrepreneurs receive a comprehensive analysis of their company's resilience completely free of charge and can compare how they are doing compared to other entrepreneurs in their field around the world.
“The COVID-19 pandemic is a test of every company’s resilience. Companies have already recovered from the initial coronavirus shock and implemented first measures, and are slowly focusing on what awaits them. A structured approach to building resilience is key to successfully managing a second wave pandemic crisis or industry disruption by a competitor's technological innovation. Entrepreneurs have to respond on many fronts – whether it’s internal and external communication, risk assessment, or management and mitigation across all areas of the company,” says Petr Knap, Head Partner of EY’s consulting division in the Czech Republic.
The EY Resilient Enterprise online tool is an easy, clear, and pragmatic way to understand how resilient an organization is to crisis. It is the first step on the way to defining business goals for the “new normal” and planning future activities. “Company directors are overwhelmed by the endless amount of information, which is difficult to navigate. Free expert analysis will give them a comprehensive, structured view of the areas in need of further effort and indicate what future steps to take,” says Petr Knap.
By combining key aspects of the recent financial crisis and current advisory practice, nine areas can be identified on which companies need to focus, identify weaknesses and strengthen the overall resilience of the organization. The decisive areas are: Employee Health and Satisfaction, Workforce, Supply Chain and Global Trade, Customer and Brand, Finance and Investment, Risk Management, Government and Public Policy, Technology and Information Security and Insurance and Litigation.
A comprehensive questionnaire, assessing the degree of crisis preparedness, is thorough enough to provide a professional view of individual areas, identify potential risks and opportunities for improvement. The entrepreneur will receive a comprehensive analysis, which can be discussed in detail with an EY expert, and free global sector benchmarking.
Access to the online application can be shared between managers of individual departments who fill in data for a given area independently of one other, each according to their focus. It takes an average of five minutes to complete one area and it can be done by anyone off the top of their head, with no need to provide performance indicators. The speed of data completion determines when the results will be available. “The sooner the entrepreneur completes the questionnaire, the sooner we’re able to evaluate the data, identify critical areas and find solutions. The tool is not only intended for one-time use, but also to provide the possibility to continuously control how the company is ready to defend itself against future crises,” concludes Petr Knap.
About EY Resilient Enterprise
EY’s newest online tool, Resilient Enterprise, provides an easy, straightforward, and pragmatic way to understand a company's resilience to crisis in the following areas: Employee Health and Satisfaction, Workforce, Supply Chain and Global Trade, Customer and Brand, Finance and Investment, Risk Management, Government and Public Policy, Technology and Information Security and Insurance and Litigation. It is the only free application on the market that measures the resilience of medium and large companies (with more than 100 employees) with an international reach. It is also suitable for large non-profit organizations whose activities have an international reach. The entrepreneur does not have to report the company's performance and financial goals. The tool can be accessed by filling out the registration form.