The increasing importance of organizational resilience for executives
A few years back, the ability of an enterprise to absorb and adapt to changes in the business environment might not have been on too many executives’ radars.
Now, with the chaotic business environment, senior leaders – the only people with visibility across the entire enterprise – must reorient their organizational cultures toward achieving organizational resilience. The only question is how?
That’s where organizational-resilience best practices come in. These are strategies that business leaders should strive to adopt in their businesses.
Indeed, many of the practices are found in international standard ISO 22316: 2017. The security and resilience standard provides sector-agnostic guidance to enhance organizational resilience.
The following article lays out three important takeaways for senior leaders.
Takeaway 1. What resilient organizations look like.
As the standard defines it, resilient organization are those entities that can absorb and adapt to the changing (business) environment while continuing to deliver on the objectives that enable survival and prosperity.
Such entities will have top management committed to enhancing organizational resilience, having understood the attributes that make organizations resilient in the first place. A checklist of those attributes includes the following:
Per ISO 22316, senior leaders of resilient organizations will have also developed and encouraged others to lead under a range of conditions and circumstances, including during periods of uncertainty and disruptions. That’s because those leaders prioritize and resource the following activities:
Takeaway 2. Leadership is important but so is sharing knowledge and information.
Even with the best leaders, however, not much can get accomplished without the right information, getting to the right people, at the right time.
What does ISO 22316 say about sharing information and knowledge? Firstly, the standard encourages the sharing of important experiences.
Entities should also ensure that information, knowledge, and learning is valued – that they are recognized as critical resources of the organization. Learnings should also be extracted from all available sources.
To make that happen, information must be readily accessible, understandable, and adequate to supporting the organization’s core objectives.
Indeed, knowledge and information must be created, retained, and applied through established systems and processes.
Takeaway 3. Invest in the right resilience-promoting resources.
Of course, efficient information-sharing isn’t easy. Organizations will have to invest in the right knowledge-sharing resources, including people, premises, technology, and/or other assets.
Beyond that, ISO 22316 recommends resourcing the following activities:
Finally, senior leaders by now understand that the risk profiles of their organizations have gone up dramatically. They also know that implementing organizational resilience promoting activities is the only way to stay ahead.
But as organizational resilience rises in popularity, what practices will make the difference? Well, as this article has laid out, ISO 22316 provides a set of best practices to which senior leaders should adhere. The best practices help to ensure better incident response, decision-making, and continuous improvement of resilience-enhancing activities.
And with the next great crisis right around the corner, those best practices might be the only measures that keep your business afloat, enabling you to seize the next great opportunity as soon as it’s presented. Looking for even more resilience best practices? Download Noggin’s free guide for executives: Understanding ISO 22316.