Transforming Resilience into Competitive Advantage
Resilience has become a strategic competency.
The ability to adapt to shifts and shocks—both minimizing their impact and seizing the positive opportunities they may create—has become a strategic competency. Prosperity and preparedness are two sides of the same coin.
Resiliency is about managing impacts, not triggers. The one thing we know with certainty is that the future will be volatile—often at accelerating rates. Convention risk management strategies, which often rely on accurate prediction, are no longer sufficient for an unpredictable world.
The case for resilience must be justified on value creation, not loss avoidance. The case for resilience must be built around the potential for productivity gains, customer satisfaction and shareholder value.
Resilience is created through best practices and processes. Resilience is not only embodied in human grit and determination. It can be deployed through a set of practices and processes that: 1) makes assets and interdependencies visible 2) creates agility, adaptability and fast response 3) empowers employees to take action 4) stimulates connections between and among critical stakeholders and 5) leverages shared interests and responsibilities.
Resilience best practices must be captured and shared. The problem is not that resilience best practices don’t exist; it’s that they are not collected and consistently shared and updated. Some of the best solutions are hiding in plain sight.
Resilience best practices must be implemented “left of boom”.
The capacity for resilience must be put in place prior to a disruptive event, not on the day the crisis hits.