What is Organisational Resilience?
Organisational Resilience refers to a business's ability to adapt and evolve as the global market is evolving, to respond to short term shocks - be they natural disasters or significant changes in market dynamics - and to shape itself to respond to long term challenges.
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Why organisational resilience matters
- The viability and sustainability of organisations continues to be tested in a world that is constantly changing
- Many organisations are realising that traditional corporate strategies are not protecting them from unexpected events
- Organisations need to be able to absorb an event that necessitates change, to adapt and continue to maintain their competitive edge and profitability
Organisations will tend to approach adverse events and situations in a particular way
Here is a range of such approaches:
Decline
An organisation accepts that adversity may cause it to cease operating.
Survive
An organisation's resilience objective is to exist in a reduced form after adversity.
Bounce back
An organisation's resilience objective is to regain pre-adversity position quickly and effectively.
Bounce forward
An organisation's resilience objective is to improve aspects of the organisation's functioning so that in adversity it not only survives but possibly gains from the situation.
