Tuesday, November 28, 2023

Developing Business Resilience Before the Next Disruption

By Nikhil Sonawane - July 04, 2022 4 Mins Read

Developing Business Resilience Before the Next Disruption

Business disruptions have the potential to hamper an organization’s workflow entirely. Enterprises need to implement a strategic response plan to tackle disruptions and their implications effectively.

Building a resilient enterprise should be a top priority for all business leaders, irrespective of their size or type. Sudden market changes, competitors luring the workforce, glitches in the products, or other factors can disrupt the business entirely. Especially after the surge of the pandemic globally and disruption in the supply chain during the period has taught business leaders to think differently to ingrain resiliency in their organizations.

A recent survey of 1000 IT decision-makers in the US and UK conducted by Orbus Software suggests that the supply chain is the biggest disruption for approximately 71% of the companies in the US, and Brexit is the primary disruption for almost 73% of organizations in the UK. 

Business leaders should consider evaluating all the possible disruptions that can impact business efficiency to create a strategic plan for resiliency. Following are a few strategies that can help enterprises create a resilient business model to minimize the impact of the next disruption.

Reshaping the operations management

Workforce and work culture are significant assets that business leaders can capitalize on during disruption. It is crucial for businesses to reshape and strengthen their workflow as per the organization’s purpose to ingrain resiliency at the core. 

A work culture that lacks a sense of purpose will have integrity and collaboration concerns which hamper the brand agility and innovation speed. Hence developing a resilient work culture is essential for every organization to scale even during disruptive times. Strong work cultures will have talented resources that are aligned with the organization’s objectives. Resilient work cultures can efficiently prioritize during disruption because they will maintain the integrity of the organization’s core values.

Understand and invest in the core capabilities

The biggest impact of disruption on any organization will be on its core capabilities which results in business productivity and efficiency. Hence, business leaders should consider concentrating on the core capabilities and investing in them. Moreover, understanding all the possibilities which can disrupt business workflow and designing a resilient response plan to it will ensure business continuity.  

Also Read: Seven Key Soft Skills IT Leaders Must Possess in 2022

Develop resilient leaders

It is nearly impossible for leaders to accurately forecast how the next disruption will impact their business and the workflow. One of the most effective ways to manage disruption efficiently is to prepare leaders on how to be resilient in tough times. Many enterprises still struggle to manage disruption and scale during unprecedented times.

Businesses that went through disruption had catastrophic impacts on their workflows and productivity. The same report by Orbus Software suggests that 56% of the respondents faced disruption due to resource shortage; the other 48% went through disruption because of inflation in the business costs, alongside increasing tech stack prices. These statistics shed light on the importance of prioritizing to develop a resilient business. Thus, developing resilient leaders will ensure that the businesses design a robust response plan to face disruption and make the right decisions during difficult times. Here are a few strategies that might help the decision-makers to make the most appropriate decisions:

  • Consider the short and long-term impacts of change management
  • Concentrate on risk management and its implications
  • Adaptability and resiliency should be a part of core work cultures 
  • Embrace innovation with speed to stay competitive
  • Think and act smartly during disruptive times

Spotting and developing resilient leaders is a perfect way to stay efficient and scale during disruption.

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Nikhil Sonawane

Nikhil Sonawane is a Tech Journalist with OnDot Media. He has 4+ years of technical expertise in drafting content strategies for Blockchain, Supply Chain Management, Artificial Intelligence, and IoT. His Commitment to ongoing learning and improvement helps him to deliver thought-provoking insights and analysis on complex technologies and tools that are revolutionizing modern enterprises. He brings his eye for editorial detail and keen sense of language skills to every article he writes. If he is not working, he will be found on treks, walking in forests, or swimming in the ocean.

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