Organisational resilience is about ensuring that your organisation will survive disasters, while trying to prevent them from happening in the first place. Its second role is to make sure that if the worst does happen, that your organisation will recover quickly, and ideally, more quickly than its competitors. A resilient business is one that does not just ‘survive’, but grows, adapts and thrives over time.
Business resilience is “the ability of an organisation to anticipate, prepare for, respond and adapt to incremental change and sudden disruptions in order to survive and prosper”. It goes reaches beyond risk management, looking overall at a business’ health and success.
Business Resilience Audits
In today’s interconnected, digital world, resilience is a requirement for businesses – not a ‘nice-to-have’, and it is not a one-off exercise, but something built, and achieved over time. Resilient businesses are able to take opportunities more readily, and assess risks easily, enabling them to move and respond quickly in their market. That is why regular business resilience audits are essential to assess how resilient your organisation really is.
The importance of business resilience has increased sharply in the last decade due to:
speed of technology advancement;
the increase cost of downtime;
evolution of instant (social) media.
These three things mean that organisations can face reputation damaging incidents without having time to respond or mitigate the harm. PlanB Consulting offers a Media Incident Training Simulator (M.I.T.S) which simulates media response to an incident. We can use it to deliver a focused exercise, or as part of a bigger multi-team exercise depending on your requirements.
Operational Resilience: how can we help?
- Identify Business Services – PlanB has conducted hundreds of business impact analysis, let us help you identify your ‘important business services’ as required under the regulations. This may include working with your outsourced partners where they provide ‘important business services’.
- Map Supporting Resources – Let us use our experience in ‘Analysis’ to help you identify the resources which underpin the essential business services. We can provide specialist software for process mapping if required.
- Set Impact Tolerances – Let us show you how to define your Impact Tolerances for each essential business service. Each tolerance should consist of a specific outcome and a time frame.
- Define Appropriate Scenarios – PlanB Consulting can assist you to define ‘plausible but extreme’ scenarios. Our blog shows how we will define and frame the scenarios. The blog can be found here.
- Scenario Test – We have experience in writing, running and reporting on scenario tests for financial clients. During the exercise we will help you identify the impact of the scenario on business services and their supporting resources. We will also work with the exercise team to ascertain the scenario impact on their set impact tolerances and see if they were breached. PlanB understands the difference between ‘normal’ exercises and the exercises required for Operational Resilience.
- Improve Resilience – An outcome of the scenario test is identifying areas where the resilience of the organisation can be improved.