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UK businesses 'must manage risk of poor weather'

19 December 2011

Businesses in the UK have been reminded of the need to put management systems in place to account for the possibility of weather-related disruption over the winter.

PricewaterhouseCoopers has observed that despite the experience companies have had of severe weather in recent years, many are less prepared for further disruption now than in the past following recession-led drives towards efficiency, rather than resiliency.

As such, companies that could be relying on the Christmas trading spike could end up losing out due to potential disturbances to their supply chains and travel networks, leaving little margin for error.

PriceWaterhouseCoopers' business continuity senior manager James Crask said it is essential that firms take risk management seriously in this context, noting that next summer's Olympics could also bring similar problems.

"Businesses need to be much more proactive in preparing for disruption," he added.

Last month, research by Deloitte revealed that less than half of large corporations in the UK have a dedicated chief risk officer in place, despite the instability of the market at present.

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