Organisations today face multiple challenges and threats, and need to be adaptable to respond to change. In order to react effectively to disruption and maintain business as usual, strong organisational resilience is required. And given the constantly evolving threat landscape, a more dynamic response is needed. That’s where organisational resilience comes in.
Organisational resilience is a strategic, tactical and operational goal that is fundamental to business growth and survival. So, how can it be enhanced? Integrating key systems with an Integrated Business Management System (IBMS) is one of the most effective ways of consolidating siloed information and uniting disparate departments, enabling leaders to get a more holistic view of the whole organisation and become more agile to deal with adversity.
What is Organisational Resilience?
In the Harvard Business Review article ‘The Quest for Resilience’ by Gary Hamel and Liisa Välikangas, resilience is defined in an organisational context as the perpetual awareness and adjustment to “deep, secular trends that can permanently impair the earning power of a core business. It’s about having the capacity to change before the case for change becomes desperately obvious”. Simply put, it’s about being proactive, not reactive.
That means organisations should be holistically ready for change, rather than reactive to one-time crises or setbacks. This covers every aspect of the organisation, including these 10 core business processes:
- Marketing
- Human Resources
- Governance
- Financial Analysis
- Management
- Sales
- Product / Service Development
- Product/Service Delivery
- Accounting
- Technology
Traditionally, all these functions and processes operate in silos. But business is different today. It needs to be seamless and aligned, without friction. An IBMS empowers the organisation to link all of these business-critical functions together into one central repository of information and intelligence.
Additionally, organisational resilience can be broken down into four key areas:
- The anticipation of the threats (insurance awareness, strategic risk, operational risk, financial risk, business continuity),
- Protection and planning (information and cyber security, governance, compliance, and audit),
- Response (crisis management, communications, disaster recovery, business continuity) and
- Recovery (business continuity, insurance, leadership, IT).
A Proactive vs Reactive Approach to Organisational Resilience
Keeping up with the pace of change and disruption in the digital era is difficult. The Charles Darwin quote ‘it is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change’ applies to organisations too.
As mentioned, organisations can no longer survive and thrive by reacting to change. Those who are market leaders anticipate change and are agile enough to act upon it, quickly. They are ready for change and disruption.
Resilience is all about dealing with operational demands and fast-changing situations that arise. It’s about breaking down operational silos and developing an ecosystem of applications to more effectively handle any disruption and make better business decisions. Organisational resilience is a continuous and always-evolving requirement, and should never be static.
For More Read Visit the Link — Medium
Elevate business success with Wipro's business assurance services, offering strategy, functional and non functional assurance designing to achieve test assurance, accelerate market time
Netrika provides a business continuity management system (BCMS), a holistic management process that helps you to process of organization undertakes to expose internal and external threats and carry out a risk assessment.
