An organization can be operationally resilient when they anticipate, prevent, recover from, and adapt to adverse operational events. Such events may include hacks, fires, pandemics, weather, and network outages.
We live in an unpredictable world. In today’s challenging business landscape, operational risks abound, and may come at completely unanticipated times. The COVID-19 crisis is a clear example—the emergence of a world-wide pandemic during the early months of 2020 threw worldwide business into complete disarray, and many once-growing businesses stalled; others failed completely.
But amid these cautionary tales, there are those businesses that have been able to effectively batten down the hatches and weather the storm. What set these companies apart for success when so many other saw devastating loss? In many cases, the answer is operational resilience.
Business setbacks are inevitable. Systems will fail, cyberattacks
will occur, local disasters will arise. And while worldwide pandemics
may not be everyday (or every-generation) occurrences, other kinds of
disruptions can and will arise. By identifying where your organization’s
vulnerabilities lie and taking the time to develop your foundational
elements, you can help your organization prepare for and recover from
disruptions quickly, and with minimal impact on your customers.