Move to Active Business Resilience in 5 steps
“The world is experiencing a level of disruption and business risk not seen in generations. Some companies freeze and fail, while others innovate, advance and even thrive. The difference is resilience”(Mckinsey)
Business Resilience providing a competitive edge may sound like a bold statement, but in leading organisations, resilience is moving from being an operational consideration to a strategic advantage. Here we explore why this is important and how you can make that shift to active business resilience for the Digital- Era in 5 steps.
Business Continuity Planning (BCP) is a foundation for all modern businesses and organisations yet in many ways is an afterthought revisted only when an incident occurs. To us, this is known as an Unplanned or Reactive Business Continuity and taking this approach can expose organisations to higher levels of risk, and cost millions in terms financial losses, endanger people’s lives and negatively impact customer relationships for years to come.
A break in continuity for a small company can cost £10,000 / hour at a minimum and in many cases for large enterprises runs into the £1millions(Datto)
It is even more astonishing, that given the recent humanitarian disasters such as the pandemic to war in Ukraine, which highlight the unpredictability and interconnectedness of businesses, that over 51% of all businesses have a sub-par or ineffective business continuity plan (Economic Times).
Whereas organisations that can provide best in class solutions for continuity and embed these practices across their culture can thrive in a world where change and disruption are the new norm.
But how do you make the shift?
Firstly, it means that a new type of application is required, this must create a real-time response to proactively plan for, manage and track incidents as they occur. Graphical screens and dashboards can showcase progress and status of each plan across your entire ecosystem including providing a live GPS map to visualise this across your entire network.
Once this foundation is in place, resilience can move from being a behind the scenes tool to providing strategic value — allowing you to differentiate service through greater reliability and move ahead of your competition.
Next, is the employee and team engagement that is needed with any digital-ready solution to embed the change in behaviours needed. A fanatical focus on the user experience is necessary — to remove burden, ensure ease of use and provide added value over traditional legacy approaches.
“Shifting to an Active Business Continuity solution has changed the game for us. Our Strategic customers and Partners are actively exploring the same.”(Wincanton — Group Head of Risk and Business Continuity).
What steps do you need to take? We see organisations that have made the transition to Active Business Resilience follow 5 simple steps:
1. Map Stakeholder Value — map out your end-to-end goals and value for all of your stakeholders including your customers, your partners, your suppliers, your employees, and leadership.
2. Align and simplify experience — create the journey to drive the change needed.
3. Lay foundations for consistency and flexibility — deploy best in class solution which provides a tailored user experience, balancing strategic priorities and local capabilities.
4. Balance push and pull — focus on employee engagement to build advocates ensuring positive momentum and a pull from across the organization.
5. Adapt and innovate continuously.
At Aspenify, we provide a proven approach, combined with innovative digital-ready software tools, to guide you through these 5 steps, enabling you to shift to Active Business Resilience — to meet the demands and expectations of your customers, partners, and employees.
To find out more contact us at: firstname.lastname@example.org