In the early months of 2019, there were few who could have predicted that, within one year, businesses around the world would be reeling from the devastating impact of a deadly global pandemic. Research suggests that between March and July of 2020, more than 80,000 small businesses permanently closed their doors as a result. But small businesses weren’t the only ones affected; many large, long-established organisations found themselves facing significant setbacks or even bankruptcy.
Looking back, the message becomes clear: emergent situations happen, and if you aren’t ready for them, your business might fail.
Business resilience is an approach that attempts to prepare organisations for unforeseen disruptions. Whether facing natural disasters, supply chain disruptions, IT and utility outages, or even a worldwide health crisis, resilient businesses are able to create effective plans of action to survive and recover from emergencies with their infrastructure, customer base and reputation intact. Building a comprehensive resilience plan gives your business and your people a playbook to follow when standard processes and procedures fail.