Linking corporate climate adaptation strategies with resilience thinking

Within modern society, business organizations have a co-evolutionary relationship with society and ecosystems. Business organizations face highly diverse risks which they have to recognize, reflect on and handle. Climate change and its impacts clarify the need for managing overall system risk. Research has shown that climate vulnerability of business organizations in the German food industry is characterized by impacts that, in particular, affect business organizations indirectly. Indirect climate change caused impacts are complex, uncertain and characterized by a high degree of unpredictability. They focus on the derived social, ecological, economic and cultural consequences of the direct physical impacts from a worldwide perspective. This paper shows that introducing resilience thinking helps to identify strategic risks and opportunities coping with climate change caused impacts in sense of corporate climate adaptation strategies. Furthermore, it is shown from a strategic management perspective that mitigation is a profound element of long term adaptation strategies.