4 Ways to Bake Resilience Into Your Business

Lessons learned on building cyber resilience

This article was written by Megan Stifel, Global Policy Officer at Global Cyber Alliance, and Geoff Brown, head of the NYC cyber command.

Earlier this week, the White House convened leaders of businesses representing technology, energy, finance, insurance and education to discuss cybersecurity. Amidst a raging pandemic, massive forest fires, and a host of other critical issues, this meeting demonstrates cybersecurity is not just a U.S. government priority, but also a priority for business leaders. A recent study indicates that the cost of phishing attacks has nearly quadrupled over the past six years with large companies now losing about $14.8 million annually, or $1,500 per employee, due to cyber incidents…READ ON

Can Manufacturers Be Both Lean And Resilient?

There has been much commentary about global supply chains not being resilient enough. All the disruptions caused by the pandemic, of course, has contributed to this. One culprit, it is argued, is global supply chains being too lean. Does this mean, companies should abandon lean practices?

President Biden Signs Executive Order On Economy

WASHINGTON, DC – FEBRUARY 24: U.S. President Joe Biden holds a semiconductor during his remarks … [+]GETTY IMAGES

No. It is possible to be lean, where it makes sense, and resilient.

The operational excellence methodology known as “lean” is centered on preserving value with less work by avoiding waste. Lean speaks of the seven wastes: overproduction, unnecessary transportation, inventory, motion, defects, over processing, and waiting.

Lean practitioners believe that when manufacturers stockpile large quantities of raw materials, load up the shop floor with work-in-process, and pack warehouses with finished goods, that the results are more product defects, long and unpredictable lead times, higher costs, and too much cash tide up as working capital…READ ON

4 Ways to Bake Resilience Into Your Business

Your organization won’t scale without resilience, and establishing a resilient, adaptive company won’t happen without your intervention and buy-in. If you’re hoping to expand operations in the coming year, take the following steps to improve your business’s overall resilience.

According to research from JPMorgan Chase, the median small business holds less than one month of cash buffer days in reserve. 

Growing a business doesn’t happen without a serious amount of disruption. As a leader, you have to nurture your workplace culture while adding new people into the mix. You’re expected to manage cash flow and maintain exceptional customer experience levels. And if that wasn’t enough, you also have to ward off competitors nipping at your heels.

Here’s the truth: Even if you set up efficient workflows, you can’t scale successfully without resilience. In fact, the more resilience you can bake into every aspect of your organization, the easier it will be for everyone to navigate change.

Yet establishing a resilient, adaptive company won’t happen without your intervention and buy-in. If you’re hoping to expand operations in the coming year, take the following steps to improve your business’s overall resilience…READ ON

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