Rethinking Resilience in Business
COVID-19 is the biggest public-health crisis in a century and has caused the deepest economic recession of the modern era.
The pandemic has revealed vulnerabilities in public-health systems and social safety nets around the world, brought vast inequalities to the surface, and demonstrated how major disruptions can snowball through interconnected systems. Clearly, our societies and economies are not nearly as resilient as we had believed.
One reason we have found it so difficult to react to COVID-19 is that we have vigorously removed “slack” from our systems.
Businesses have become disciples of the gospel of efficiency and just-in-time production, fiscally stretched governments struggle to provide even basic services, and we have pushed natural systems to their limits…
‘Business Resiliency’ in unprecedented times
While trying to provide work from home capability for the entire company during the pandemic, the thinking on business continuity for organizations’ is today evolving from localized, data-centric strategies to a global perspective to keep businesses running virtually. In order to ensure business continuity and resilience, organizations need to connect people, secure the business, and automate processes for the modern workforce.
Typically, organizations need to think of:
+ Providing base level connectivity: example Virtual Private Network (VPN)
+ Ensuring that basic collaboration tools such as e-mail, voice, instant messaging are functional and reliable
+ Determining appropriate access to critical applications in order to keep the business running securely
To empower a remote workforce and build a secure and distributed-work model, organizations seek remote collaboration solutions that are simple, reliable, and secure. Solutions designed to communicate, ideate, iterate from anywhere, anytime help employees working from home to safely connect with their teammates. Solutions like Cisco WebEx for example, ensue secure collaboration and make meetings seamless as meeting in person. This means it is possible to keep business running as usual during unexpected situations…
3 Ways to Build a Resilient Business
Consider the camel.
This desert mammal might not be the most attractive creature. But a camel is built to last. Unlike other animals, camels can withstand extreme changes in body temperature and water consumption. You probably picture camels in the scorching, dry desert – but they can also survive in frigid mountain climates.
Why is it? Camels evolved to be resilient, so they can adapt to conditions that would kill other animals.
I love to use camels as a metaphor for entrepreneurship in the current economy. In recent years, many of us embraced the “unicorn” mindset, hustling at all costs to disrupt our respective industries.
But during a global pandemic, rapid growth isn’t as realistic as it once was. That growth-at-all costs perspective can only occur in the strongest economies – and right now, it comes with significant risk…