While efficiency has long been hailed as the ultimate goal for businesses to achieve, in our complex and constantly-changing world resiliency is likely a more long-term source of competitive advantage.
In the wake of the COVID-19 pandemic, resiliency is now being discussed at organizations in all industries and sectors, and security managers can find themselves thrust to the forefront of these conversations. Teams may be going through the process of updating their Business Continuity Plans, however resiliency is much broader than just having plans in place. We’ve created this quick guide on the six structural and cultural factors that managers can consider when evaluating their organization’s broader resiliency to external shocks.
Availability of Alternatives
Does the organization have more than one way of producing its products or delivering its services? Can resources be reallocated to do this, or are alternate vendors or partners available?
Corporate Structure
Are systems and processes built in a modular way? Can they be reconfigured in new ways to meet new challenges?
Prior Planning
Does the organization plan for hard times? Does it have good plans in place for contingencies, such as business continuity plans, does it perform stress tests or downside scenarios?
Creativity and Diversity
Is creativity encouraged and followed-through on? Are improvements encouraged and enacted? Is there diversity in viewpoints, methods and approaches?
Ability to Adapt
Are the organization’s systems, processes and culture flexible and nimble enough to respond to shocks and enact scalable changes?
Systemic Importance
What is the role the organization plays in the broader economy, and how does it impact upstream and downstream stakeholders? How is it in turn impacted?
