We are focused on identifying both current and over the horizon risks with a focus on climate change; implementing We know the speed at which new risks emerge in our dynamic environment, so they and their potential impacts need to be discovered and responded to fast. At the same time, we take smart risks to grow as by being forward looking, aligning risk to strategy, and taking the right type of risk we set ourselves apart from our competitors.appropriate countermeasures and risk transfer strategies; maintaining agility to leverage opportunities, while having strong crisis response capabilities. To enhance our response, we have brought together several specialist resilience streams that enable us to leverage synergies to drive growth while protecting the business. Ultimately being business resilient is a competitive advantage.Smart risk is linked to our growth mindset and is an evolution in the way that we manage risk. Traditionally, like other Japanese companies, we were focused on managing the downside of risks and being prepared for disasters. We know this is no longer enough, and as we innovate and grow, we need to develop more sophisticated over the horizon risk-identification processes while at the same time encouraging informed risk taking. Supporting this we have created solid risk management practices and procedures that we are embedding throughout the company.57Business Resilience StrategyCreating growth opportunities through risk managementResilience is a leadership orientation that forward-thinking companies like ours have embraced in response to a disruptive and volatile business environment. Our resilience orientation has moved us away from a narrow crisis-response reflex to agility and innovation, where we identify and respond to risks, absorb shocks, and pivot to respond to new growth opportunities. Adopting a “smart risk” approach according to the business environmentIn business, risk management helps us to manage uncertainties and we are all risk managers. These uncertainties can have either positive or negative consequences and by making the most of the opportunities, while managing the downside, we become a resilient business. Taking smart risksfor business resilienceGerold Knight Head of the Risk Management Senior GroupCoca-Cola Bottlers Japan Inc.
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