How resilient is your business?
Organisational resilience is about your businesses ability to survive and thrive in turbulent times. It is also an indicator of a successful businesses ability to deal effectively with the challenges of normal market conditions. Resilient businesses and teams are more likely to manage and adopt change by being flexible and adapting to certain conditions rather than panicking and missing opportunities.
So what makes a resilient business? There are a number of characteristics that we see in these businesses including the capacity to operate in spite of organisational change, being able to adapt and diversify offerings to meet changing markets, the ability to adjust to new conditions quickly and efficiently, strong leadership and flexible systems and processes.
There are some key areas to focus on when building and developing resilience in your business as follows:
· Monitor the external environment to identify opportunities and threats
· Review the internal environment to assess strengths and weaknesses
· Set strategy that aligns with your business goals
· Develop business plans with key performance indicators and review these on a quarterly basis
· Measure individuals and teams against the key performance indicators
· Assess your business and individuals against their ability to adapt, problem solve, challenge and be flexible
· Develop individuals and teams by extending their knowledge base and challenging systems and processes.
A businesses capacity for resilience is imperative if you are going to enhance organisational capability to deal more effectively with current and future changes. By scanning the environment, developing key performance indicators, measuring against these and extending knowledge you have the foundations for the start of a resilient business.
Director | Human Resource Specialist
Everest – all about people™