Why Business Resilience Must Begin with a Cultural Shift

Resilience, empathy and good communication: vital skills for managers

Good communication skills have always been a key marker of strong leadership, but new research has found that resilience has emerged as being particularly important since the outbreak of COVID-19.

The global survey that included University of Sydney graduates looked at the skills business leaders needed to thrive after the coronavirus pandemic. It suggested they would need to do more than just look after the bottom line.

The research compared the idea of good leadership before and after the start of the coronavirus pandemic and found that communication skills always have, and will continue to be vital. But resilience has become even more important since the start of the pandemic.

The study conducted by the CEMS Global Alliance in Management Education, which includes the University of Sydney Business School, found that resilience, empathy and the ability to communicate were more important since the start of the health crisis. The number of people who thought resilience was an important attribute almost tripled since the pandemic started…

Why Business Resilience Must Begin with a Cultural Shift

But a truly resilient organization must look beyond operations to its business as a whole.

The robustness of economies, businesses, and communities across Asia has been sorely tested by Covid-19. Standard & Poor’s forecasts the pandemic will cost Asia-Pacific economies US$620 billion in total and permanent income loss, and the Asian Development Bank estimates 68 million jobs will be lost in the region. While the negative effects of the pandemic are profound, there may be a silver lining if it catalyzes a culture of business resilience.

The companies that will recover quickly from a crisis most likely have leaders who recognize that resilience is good business. A resilient organization structures its business to ensure that it can meet its minimum needs to survive if disaster strikes. Such a cultural shift can succeed only if it gets the full support of the board, executive management, and key stakeholders…

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