Continuity and resilience go hand in hand with one another. With a lot of disruption going on across numerous industries, organizations are taking a look at their current emergency and failsafe plans to keep themselves afloat when tough times occur. Risk managers are taking some deep dives into their internal processes and conducting major audits. After these audits occur, risk managers will take a look at business resilience and continuity heavily. However, both these principles are not exactly the same thing. Let’s take a look at what makes them different.
What Is The Difference?
Business resilience and business continuity are slightly different. According to numerous sources, business continuity is defined as an organization’s ability to maintain its operational strength during and after interruption. Business resilience is a lot more broad and strategic. Business continuity drives business resilience, which is an important relationship to keep in mind. Here is how to instill both simultaneously.
One Complete Vision
Since business continuity drives strong business resilience, it is crucial to have one complete vision that ties in both principles. Your organization’s value proposition and goals play a larger role than you may think. Business continuity focuses on the operational side while business resilience is more cultural and communication. A business continuity plan is only as strong as the people that have to carry it out. A clear and powerful vision will help effectively communicate the importance of business resilience. A strong and transparent vision will allow employees to carry out crucial plans when disaster strikes.
Understand Potential Disruptions
As a risk manager of an organization, you should have a pretty good understanding of what disruptions are more likely to affect the organization and what disruptions will not. The disruptions that are more likely to affect the organization should be discussed a lot differently than the less likely ones. Analyze all the recent fallouts of past disasters and what your organization had to do to carry forward. See what could’ve been done better and where the organization really thrived to come together. These analyses will help tremendously when instilling business resilience and continuity in your organization.
Understand Core Competencies Of Your Assets
Lastly, your organization should understand what are the core competencies and skills of all your assets. Whether it is integrated software applications or management, decision-makers of the organization should understand who does what the best and where they will need help. Core competencies should be understood before adding assets to your business, but it is essential to revisit them very often. The conclusions drawn from reassessing your assets will allow leaders to better manage and teach the right skills at the right time.
I hope this helps!