The pandemic challenged the world in ways that it wasn’t ready to figure out how. As for organizations, it challenged how they operated, communicated, and safeguarded assets against risk and disruption. The outcome exposed how flawed traditional resilience approaches were. In no way were the approaches up to the standard required to address the sudden situation caused by the pandemic. That is why today, companies are working towards operational resilience going forward.
The new approach towards resilience can be defined as initiatives are taken by businesses to continue expanding business management programs. It focuses on the possible impacts, connected risk chances, and tolerance levels in case product or service delivery disrupts.
These initiatives account for all internal and external stakeholders such as employees, customers, partners, etc. They also manage risk assessments, monitoring, and execution of controls impacting the workforce, technology, facilities, and other third parties.
This article discusses the top three ways to build this new approach toward organizational resilience.
Building the Framework on Existing Systems
Implementing a new resilience framework like operational resilience does not need to be started from scratch. It can be achieved through effective risk management of existing systems, people, and processes.
Talking about risk management, it has always been an organization’s reaction to events that have already happened. These events were typically the ones where much less attention was given to proactively handling them. This is where resilience based on operation comes in the middle. The ultimate purpose of this framework is to emphasize anticipating what risks are ahead and how to withstand its impacts.
One can conclude that achieving operation-based resilience is like tracking potential risk indicators, assessing risks, analyzing scenarios, etc.
Incorporating with Third Parties
A lot of companies tie up with third parties to obtain essential business services. For example, a company can have third-party connections for distribution, operations, and financial services. Therefore, while developing a new resilience, the company needs to fully understand how these third parties partner with them.
Third-party companies should be included in the resilience planning. That will help the business safeguard its operations with them from any disruption. Connect with your company’s third-party partners to fill in knowledge gaps.
Make Past Experiences Matter
Learning from past experiences of both internal and external events is a critical part of building an operational resilience framework. For example, evaluate how well your company responded to the pandemic. If there were any potential mistakes, look for reasons behind what went wrong. Evaluate what measures could have been taken to avoid the mistakes made.
Knowing these things beforehand will help the company develop a robust resilience strategy. Because adapting to systems based on a direct response to past failed events works better while framing a new resilience.
The pandemic showed how businesses are more vulnerable than ever in the interconnected and interdependent world. Living and working through the turbulence added to a whole new concept of resilience.
If you are looking to develop operational resilience for your IT estate, hiring a service provider company is the best option. These companies have efficient tools that provide complete visibility to manage potential risks and disturbances, boost resilience capabilities and navigate digital complexities.