An unforeseen crisis can push businesses past breaking point, wreaking havoc on financial stability, employee wellbeing and business operations.
We saw this recently when the global COVID-19 pandemic rocked organisations globally; destabilising supply chains, overwhelming medical systems and forcing companies to change the way they operate. We have seen first-hand the devastation caused by a lack of preparation, so how can we ensure our businesses are positioned to weather future crises?
What does it mean to be resilient?
The Harvard Business Review defines resilience as a company’s capacity to absorb stress, recover critical functionality and to thrive in altered circumstances.
Resilience is becoming increasingly important in a world that is experiencing an unprecedented number of ‘altered circumstances’, from pandemics through to rising global tensions. Through careful planning and thorough preparation, businesses can not only recover from a crisis, but gain a competitive edge in a post-crisis situation.
Benefits of becoming a resilient company
Companies that successfully implement resilience strategies experience several benefits which compound to provide a significant advantage over their competitors.
1. Anticipation benefit: Companies with clear strategies can articulate resilience plans prior to a crisis, which leads to advantages following a crisis.
2. Impact benefit: A comprehensive resilience plan prior to a crisis event will drastically improve a company’s ability to absorb the initial shock by enabling a more agile response.
3. Recovery speed benefit: A resilient business possesses the ability to rapidly rebound from shock by quickly and accurately identifying and implementing next steps.
4. Outcomes benefit: Truly resilient businesses will come out of crisis events stronger than prior to them, through increased capacity to work in a post-shock environment.
Building resilience
At Struber, we recognise the dynamic and increasingly unpredictable nature of running a business, enabling us to develop comprehensive resilience strategies.
We don’t just talk the talk though; Struber has identified key service pivots and has implemented a ‘100-year plan’ to ensure our long-term success in our ever-changing world. In the words of American Journalist, Charles Wheelan, “change is inevitable; but progress depends on what we do with that change.”
We are a team of bright individuals, with skills ranging from crisis management through to strategic planning.
To find out how we can ensure you are equipped to not only bounce back from disruptions but come back stronger than ever, contact us today.
