Resilience
Resilience refers to an organisation's ability to withstand, adapt to, and overcome an unpredictable critical incident.
While resilience considers the unique challenges faced by different organisations and industries, the fundamental principles of resilience are the same for all. These principles are:
1. The ability to identify threats, reduce vulnerabilities, and prevent risks
2. Flexible and adaptive strategies to address sudden changes
3. A crisis management organisation within the company
4. Effective recovery plans and business continuity
5. Building capabilities pertaining to necessary resources, knowledge and skills
6. Continuous evaluation, adaptation and improvement of assessments, plans, and measures
7. Incident evaluation and learning
Resilience can strengthen an organisation by reducing negative impact on operations and reputation, minimising losses, and ensuring faster recovery after crises. Resilient organisations can adapt promptly to changing market conditions and sudden circumstances. By focusing on resilience, companies can create a culture where innovation, proactivity, and readiness enhances the ability to handle daily challenges as well as, extraordinary events.
