An organisation 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 worldwide 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 organisation's vulnerabilities lie and taking the time to develop your foundational elements, you can help your organisation prepare for and recover from disruptions quickly and with minimal impact on your customers.