Governing for resilience in a volatile world
Change is now the constant
The war in Iran and the energy price shock that soon followed have shown that geopolitical fires can rapidly cause global economic disruption. For organisations, it is a jolting reminder that uncertainty and change are no longer isolated events, but continuous challenges that must be actively navigated and managed.
In business, there is much that is beyond our control, but we should not be passive. There are risks and challenges that we can pre-empt and manage.
The three C’s: Culture, communication and collaboration
In periods of heightened volatility, effective leaders concentrate on what lies within their sphere of influence. This includes communicating transparently and frequently, involving teams in shaping and delivering change, and breaking long‑term objectives into achievable near‑term priorities. Strong leaders also foster cultures where mistakes can be acknowledged without fear, learning is encouraged and calm, resilient behaviour flows from the top.
The COVID‑19 pandemic demonstrated what effective governance under sustained uncertainty can look like. Collaboration between industry and government enabled the resources sector to implement nation‑leading initiatives, rapidly trial new technologies and maintain operations despite severe workforce and mobility constraints. This collective, adaptive approach contributed to Australia’s post‑pandemic economic resilience and offers enduring lessons for current challenges.
Dynamic risk management
Central to an organisation’s adaptability is dynamic risk management: a continuous, proactive and responsive approach that replaces static annual reviews. It focuses on identifying emerging risks early, understanding the organisation’s risk appetite and acting decisively as conditions change. In practice, this includes real‑time monitoring, data‑driven decision‑making and empowering people across the organisation to manage risk as it emerges. Tools such as digital twins, AI‑driven cyber threat intelligence, environmental monitoring technology and ongoing geopolitical analysis enable organisations to respond faster and more effectively.
Resilience comes from a long-term mindset
In this environment it is increasingly difficult for CEO’s to remain strategically focussed on driving long term value. CEOs are expected to be ‘on the balcony’, providing the organisation with strategic direction, but are often ‘on the dance floor’ dealing with day to day issues. This is particularly relevant to small to medium enterprises, where resource constraints intensify the pressure.
Maintaining a long-term strategic focus while navigating volatility can be achieved by adopting a mindset that acts decisively on near term issues without abandoning long term goals. Central to this approach is disciplined planning, resource allocation and developing a resilient and purposeful team.
One of the ongoing challenges for CEOs is finding time to pause and reflect. Being ‘busy’ is often mistaken for effective leadership. It is much harder to step back from day to day operations and ensure that organisational actions are aligning with long term goals.
Effective board management
For boards and executive teams alike, strong governance, dynamic risk management and resilient leadership are no longer optional capabilities. They are essential foundations for navigating sustained uncertainty while continuing to create long‑term value.
Organisations can ensure that boards are strategically informed and focussed by providing structured reporting frameworks, maintaining board calendars and fostering a culture of open, transparent communication between management and directors.
However, this is only effective if the board composition includes directors who have undertaken governance training, are committed to dedicating the necessary time to board duties, who thoroughly review board papers ahead of meetings, who engage with the organisations activities and who are open to external scrutiny.
In my experience, lack of preparation at the board level results in group think led by a dominant board member. This dynamic frequently leads to outcomes that are not in the best interests of the organisation.
About Rebecca Knol
Rebecca Knol is an experienced board director and senior executive, with a career spanning the design, education, resources and not-for-profit sectors.
She now works across strategy, governance and stakeholder engagement, drawing on two decades of executive leadership experience.
Qualified in landscape architecture, environmental science and business, she has worked across ASX, NFP and SME organisations and brings extensive experience engaging with Boards, industry leaders, communities and State and Federal governments.
Rebecca is perhaps best known for leading South Australia’s peak resources industry association for 10 years, where she delivered a bold strategic vision, nation-leading advocacy and meaningful reform. Her work consistently sat at the intersection of strategy, governance, stakeholder trust and public influence.
Across her career, Rebecca has built and led high-performing teams, navigated complex stakeholder environments and shaped engagement strategies aligned to organisational priorities and long-term outcomes. She has significant experience reporting to Boards and Finance, Risk & Audit Committees, and is committed to governance that is practical, transparent and effective.
Rebecca brings a grounded and thoughtful perspective to board and stakeholder engagement, particularly where competing priorities, advocacy and trust must be carefully balanced.