Reisilience
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The document discusses how companies can build resilience. It notes that resilient companies are better able to withstand shocks by having lower impact, faster recovery, and greater recovery. It identifies four key ways for companies to build resilience: 1) Conduct environmental scanning, develop future scenarios, and contingency plans to prepare for uncertain environments (VUCA readiness). 2) Build redundancies and diversify operations and revenue streams to increase agility. 3) Strengthen the brand to be important to consumers. 4) Foster a strong sense of community purpose to motivate employees.
Reisilience
- 1. The Era of the Resilient Company
- 2. The pandemic has shown the importance of resilience for companies
- 3. A resilient company performs better in three stages of a shock 1) Lower Impact 2) Faster Recovery 3) Greater Recovery Shock Source: BCG Henderson Institute
- 4. How do you Build Resilient Companies?
- 5. (1) VUCA Readiness: scan the environment, build future scenarios, plan contingencies
- 6. (2) Agility: build redundancies, pursue modularity, build multiple revenue streams
- 8. (4) Purpose: Be a community-centric company, higher sense of purpose, your employees will respond with more drive, more agilityand flexibility
- 9. In summary: How do you build resiliency? 1. VUCA Readiness Environment Scanning Long-term Scenarios Contingency Plans 2. Agility Redundant Systems with no single-point failure Operational and Revenue Diversity Modularity 3. Brand Strength Be important to your consumers and customers 4. Purposiveness Companies with a stronger community-linked purpose, have employees with a stronger drive, more willingness to act and change