Why Is Operational Resilience Important - And How Can It Be Achieved?
To be successful companies must achieve their strategic objectives.
Challenges frequently arise from climate change, a pandemic, geopolitical events, supply chains, cyber security sources et al. Such challenges cause disruption to one or more parts of a business, magnifying and expanding the existing risk profile.
Customers don’t care.
Unless you deliver your products and services to them, they will go elsewhere. The pressure to demonstrate the effectiveness of operational resilience is immense. The more you can evidence that you can react to and manage disruption to your business, the more likely you are to retain and expand your customer base.
Operational resilience is vital. It relies upon the alignment of a mix of business processes, technologies, data, people, third parties and more. When disruption occurs, each element adds complexity and exposes any weakness in your organisation.
Moreover, functions are often siloed. As such, when disruption occurs, they adopt different approaches to achieve their functional objectives.
Building Operational Resilience
Resilience requires alignment on common goals - plus a culture change, a more effective way of prioritising business flows, and increased coordination with other teams. To achieve this
Executives must prioritise building resiliency
Every function must align on common objectives, approaches and tools.
Priority must be given to most your important products and services
Risk management must focus on the risks and threats that impact the organisation the most.
The entire organisation must take ownership for making the business resilient
Preparation and planning are vital, but a key part of being resilient is being agile –the ability to quickly adapt to changing circumstances
Process automation needs to be embedded to the fullest extent possible
We specialise in helping companies to implement a risk-driven, prioritised approach to build and embed operational resilience across the organisation. We develop a proactive approach, enabling teams to focus on the most important business impacts to significantly reduce the impact of disruptions.