Six Aspects of a Resilient Organization
- Nov 1, 2021 5:38 pm GMT
Resilience is important in the world we face today. What are the defining characteristics of a resilient company, and how do we move towards becoming one?
As we have seen since the financial crisis of 2008-9, and more recently in the pandemic, organizations are vulnerable to disruptions, sometimes called 'Black Swans' or unexpected events that can unsettle their business. While all businesses are at risk, some are more resilient than others.
Organizations can transform through technology and workforce training to build a resilient structure that can adapt swiftly when a crisis (or an unforeseen opportunity) arises.
Businesses need to understand the risks they face, and prepare plans, as well as train staff to be flexible in the face of troubling events. The pandemic was somewhat unexpected, but hurricanes hitting the USA and the 2008 crisis, are foreseeable events. Planning for the challenges of moving to net zero carbon emissions is another business and government goal that will involve resilient structures.
Six guiding principles of a resilient enterprise:
1. Utilizes best digital practice
2. Aware of Security and risk issues
3. Agile and lean
4. Concentrates on its core purpose
5. Human-centered, not systems centered
6. Connected to a network to increase stability
Organizations are rarely able achieve resilience on their own. Any decision an enterprise makes invariably requires coordination with external organizations and individuals and is both influenced by and influences stakeholders in its network.
By sharing resources, insights and decision-making, organizations can establish improved resiliency within their operations. Agility while keeping focused onto the core business is necessary. Vigilance and employee training is an important factor, combined with far-sighted management practices. C-level practitioners need to be pro-active and not reactive in taking steps to ensure resiliency before a crisis impacts the business.
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