"Resiliency is about adaptability in this environment, as well as having a sustainable
business for ourselves and for our clients."
Arvind Krishna, Chief Executive Officer, IBM
The leading companies today are building new levels of resiliency in three ways:
❖ Revisiting their supply base and global asset footprint
❖ Moving quickly to digitize operations end to end
❖ Transforming business models to achieve cross-functional agility in operations
Source: McKinsey report: The Need for Resilience
❖ Cultivating the willingness to learn from past mistakes so that they won’t happen again
❖ Transferring learned strategies when training and preparing staff to respond to difficult situations
❖ Continually increasing the ability to build efficient communication channels throughout the organization
❖ Committing to promote a proactive cultural mindset when it comes to managing operational needs, threats and risks
❖ Shifting from a fixed to a growth mindset by recognizing and displacing harmful, limiting beliefs
❖ Reframing thinking to see challenges as a opportunities to inspire learning, transformation and personal excellence (not perfectionism)
❖ Establishing personal accountability and ownership as the bedrock of individual and organizational integrity
❖ Discovering how mastering language and self-talk are major communication keys for motivating individuals, teams and leadership
❖ Learning to view failures as temporary setbacks and priceless lessons
❖ Practicing regular honest self-reflection and accepting honest feedback
❖ Walking the talk - no hypocrisy allowed!
❖ Setting meaningful individual, team, and organization goals anchored by shared core values.
Strong risk management is foundational for becoming operationally resilient. Implementing the proper processes to mitigate risks can reduce the likelihood of chaos.
Why is Operational Resilience Needed?
"So how did operational resilience suddenly become such a hot topic? The pandemic, Brexit, cyberattacks, and operational failures have forced organisations to identify their most critical business services, consider vulnerabilities that are broader than cyberattacks and IT failures, and define a consistent approach to prevent, adapt, and respond. In essence, operational resilience ensures protection against various mishaps that can arise within an organisation. And those threats such as the pandemic have made the construction of this framework even more vital.
"Recently, we’ve learned a lot about the way the world works under pressure. For one, we need to be able to look at what processes used to work, which ones are still useful, and which ones are broken and need change. Often, organisations will find that pre-COVID processes were largely manual and would not be applicable in today’s era, especially when considering the sheer number of organisations with a hybrid or work from home model. While these changes can seem overwhelming and maybe even uncomfortable to an extent, it’s the root of what operational resilience is. Being able to pivot in times of change, while displaying grit and determination, will lead to positive adoptions when transformation is least expected. Small amounts of progress soon lead to large-scale noticeable change, which will prove beneficial to an organisation from top to bottom."
Source: CIO.com, February 1, 2022