Resilience is not merely a safeguard; it is a strategic asset that drives long-term growth, competitive advantage, and operational continuity.

What is resilience?

Resilience is the ability to deliver critical operations and to achieve intended outcomes even during times of uncertainty, disruption and change.

Resilience is a corporate-wide value that requires a coordinated effort across all business functions and support teams: including Risk Management, Corporate Security, Cyber and Information Security, Vendor and Supply Chain Management, and Business Continuity and Crisis Management.

Why resilience matters?

Resilience is not about predicting the next crisis, but is rather about ensuring agility and flexibility under pressure. Considering potential severe, but plausible, scenarios helps bolster resilience. Here are some such scenarios:

• The COVID-19 pandemic was a good case-in-point. Organisations with flexible cultures seamlessly transitioned to remote work, and those with diverse supply chains adapted quickly. Traditional organisations, however, faced significant disruption.
• Cyber Risk: While most organisations invest in cybersecurity to some extent, resilience goes well beyond IT. It ensures that even during an IT outage, or communications breakdown, an organisation can quickly pivot to alternative ways of working.
• Geopolitical Tensions: Global geopolitical tensions are rising, but many organisations still fail to adapt. Scenarios such as shifting borders, or a conflict, could have a critical impact on operations.
• Artificial Intelligence: Astonishing developments in AI will present unpredictable and unprecedented challenges to businesses. Organisations should consider and seek to anticipate how AI developments might disrupt markets or even impact their core purpose.