Resilience is defined as the capacity of an organisation to plan for, and adapt to change or disruption, through anticipation, protection, responsive capacity and recoverability. (Tierney, K. J 2005)
Simple words, but requiring ongoing action by Organisational leaders to ensure the Company stays in business and is sustainable for the long haul.
- Organisational resilience is not one thing. It is complex and multi-dimensional and is the result of a range of different factors. An Organisation can be resilient in one area (such as manufacturing) but not in another (high staff turnover).
- Resilience is an outcome. If all aspects of a business are assessed and good practise and procedures put in place that allows adaptability to changing circumstances, resilience is the result.
- Resilience is ever changing. The world does not stop; neither does the environment, customers’ demands or environmental challenges.
- Resilience is the ability to adapt and rise up to meet these challenges.
- Resilience is about adapting to changing circumstances and the ability to recover when challenges occur.
Whilst resilience is essentially based on good risk management in all areas of the business, I believe it is also a leadership mindset. Not to lose focus of the important components of the business, at any time, and to ensure it is productive and sustainable over time.