Top 10 things you need to know about resilience
Extreme weather, terrorism, war, organized crime and cyber-attacks are just some of the potentially catastrophic threats faced by governments, communities and businesses alike. These threats endanger the physical and economic ecosystems on which we rely. To allow society and the global economy to thrive, organizations must understand and manage the consequences of these events. This means building resilience: the capacity to respond to and absorb shocks and stresses, and recover as quickly as possible.
The threat vectors we face today are overlapping, thereby creating a cascade of consequences that can endanger the lives of citizens and employees, an organization’s assets and its ability to add societal or commercial value. They are systemic and affect the very fabric of our organizations and communities.
Physical threats can emanate from criminal or terrorist activity, but also include natural phenomena such as floods, landslides, wildfires and earthquakes. Societal threats emerge from activities and circumstances that break down the bonds between community groups, such as gang-related crime and violent extremism.
The impact of cyber-attacks and virtual threats is now being witnessed all too frequently, ranging from data theft and invasion of privacy to denial of service and holding firms hostage through ransomware. Sustained attacks on brands and malevolent messaging though social media campaigns can reduce confidence in an organization and destroy its credibility and value.
When these vectors coincide, the impact can be catastrophic. However, sensible planning and preparation, coupled with adaptive response and recovery management, can help organizations bounce back quickly, with minimal loss and disruption.
Here are 10 things to consider to prepare to bounce back when — not if — things go wrong.
- Resilience safeguards the realization of your strategy.
- Truly resilient organizations thrive in crisis situations.
- Everyone has a seat at the resilience table.
- Resilience cannot be purchased, but it can be built.
- Resilience plans are living documents.
- Murphy was right: what can go wrong will go wrong.
- Traditional risk forecasts are insufficient.
- The value of operations far exceeds the value of physical assets.
- Resilience is a competitive advantage.
- Collaboration and integration strengthen resilience.
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