Business resilience at Coca‑Cola HBC aims to strengthen our business, supporting our growth strategies by identifying risks and opportunities and enhancing our ability to respond to disruptive events.
Coca‑Cola HBC operates across 28 diverse markets in established, developing and emerging countries. Our geographic footprint extends from Galway, Ireland in the west to Petropavlovsk, the easternmost point of Russia.
This breadth provides attractive growth opportunities and reduces our dependence on any particular market. However the very breadth and size of our footprint means that our business environment may be affected by volatility, uncertainty, complexity and ambiguity.
What is business resilience?
Business resilience today is no longer about recovery. We at Coca‑Cola HBC acknowledge that we need to:
- Understand our risks and opportunities and adapt based on experience and changing circumstances (enterprise risk management)
- Use exceptional internal and external risk radar to detect changes in our operational environment (business and operational risk monitoring)
- Build strong functional collaboration networks, both internally and externally
- Work proactively to minimise exposures, leverage opportunities and transfer risk (security and fraud control, with an understanding of local risks and exposures; insurance coverage)
- Be able to respond rapidly and decisively to an emerging crisis (emergency response planning through our Property Loss Prevention Program; crisis management; business continuity management)
Our approach to business resilience
Our approach draws together the various elements that will:
- Protect our business
- Support our growth through identifying risks and opportunities
- Enhance our response capabilities to change and crisis
Our business resilience vision is to deliver a best-in-class business resilience model that identifies opportunities, supports growth, drives sustainability and creates value for our business and stakeholders.
Our business resilience framework covers seven areas: enterprise risk management, fraud control and security, insurance, property loss prevention, IMCR (incident management and crisis resolution), business continuity and disaster recovery. Some of these areas aim to prevent and transfer risk; the others to respond adequately to risk.
Recognition for our business resilience function
Coca-Cola HBC has won “The Risk Management Award - In House & Insurable Risk Managers” at the 2018 British Insurance Awards. This award is for the organisation that has recognised a business issue in risk management and instrumented a strategy in order to improve the corporate approach towards risk management and insurance. It independently validates that our programme, its objectives and direction are best in class.
Read more about the award