and risks that can potentially affect normal business operations and provide a framework that entails plans to mitigate these factors and provide a way ahead towards the resumption of business operations.
but you should bear in mind that one can’t predict and be ready for every situation. Hence, when you come across any unforeseen circumstances, an agile approach like Business resilience is the more effective one.
Opportunities in adversity: Now this may sound a little preachy, this is what the major enterprises around the world have done during the pandemic to not only stay afloat but to make the most out of the situation. The idea is to not just survive the disruption but to create opportunities in adversities.
Look forward: Well, crises present an excellent opportunity for accelerating long-term transformational change. Shifting an organization’s time horizons outward is therefore one of the key roles for leaders.
Measure beyond the “performance”: If you want to be a resilient business, stop evaluating your business’ health by Value Extracted and measure it by flexibility, adaptation, and other components of resilience. A simple method is to measure either benefits or capabilities.
Put “Diversity” above: Resilience depends on the ability to see situations as not only they are but what they could be, and this requires a fresh perspective. Resilient businesses prize cognitive diversity i.e. appreciate the value of variation and divergence.
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