THE IMPORTANCE OF RESILIENCE We have previously touched upon the lesson that we have all learnt from the COVID-19-derived economic crisis. This lesson is the importance of resilience. Now, we will delve into more detail on some of the aspects that can help promote resilience in your business. These aspects are revenue models, delivery models and financial models. WHAT IS ORGANISATIONAL RESILIENCE: A BRIEF RECAP Resilience is about how many punches you can take – and still stand. It is about how quickly you can adapt to new conditions. It’s about how you can weather a perfect storm – and how you can set sail during that storm and move forward even faster. It is not just about being agile (but that helps). It is not just about being robust (but that helps too). And it is not just about operations. It is in essence a trait that you incorporate in your strategy, your business and operating model, your systems, your processes, your leadership, your people development and your culture. Resilience is what will allow you to change your product portfolio fast if needed. It is what will allow you to continue operations if your supply chain is severely disrupted. It is what will enable you to shift your sales operations from analogue to digital fast. And remember, resilience is not about predicting, it is about responding. ASPECTS OF A RESILIENT BUSINESS So where to begin? In order to create a resilient business, you need to take a 360-degree view of your company and incorporate resilience in all aspects. This is not done overnight, and we will not be able to cover all the elements in this text, although this is a long text. Instead, we will delve into some critical aspects that have shown to characterise those companies that have been able to respond and adapt quickly to the constantly changing market conditions in the spring of 2020. 3
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