Becoming a Resilient Company

Technological breakthroughs, epidemics, geopolitical shocks, disruptive innovation, social landslides, economic fluctuations, rapidly changing consumer expectations ... The world is becoming more and more uncertain, ambiguous, volatile, and complex. Companies are struggling to keep up with this and are becoming increasingly fragile. For company leaders, those good old days where you could continue with the same business model for decades are no longer there! Being a resilient company is on the agenda of company leaders today.

A resilient company is a company that constantly anticipates and foresees, any cyclical or structural changes that may affect its economic profitability, and proactively addresses them. It has a capacity for change without the need for change becoming hopelessly obvious. In shocks such as COVID-19, it can survive by absorbing the first blow, ensure business continuity, and then revive and thrive. It doesn't have to compromise from its consistent strategy. Resilient companies don't fall into situations that require a new CEO to rescue them. Resilient companies consistently work to secure their future, rather than defend their past. Past achievements do not get tangled in their feet. Resilience is the name given to the capacity for constant renewal and being able to stand firm against unfavorable conditions, by acting before develop.

So why should a company be resilient? The simple answer is that resilient companies survive in tough conditions, they have a good chance of succeeding, and ultimately they are more profitable. But beyond that, organizations that fulfill the requirements of being a Resilient Company provide a variety of other benefits. First of all, they perceive dangers faster. Because they are constantly prepared and can be agile, they take less damage from the first hit. In the process of revival, they can recover faster. They can find a more solid place for themselves in the "New Normal", the post-shock environment, and continue their development and growth.

What are the characteristics of resilient companies? First of all, they have horizon scanning programs that can foresee the major risks they may face. More importantly, they have business models including preparedness, whether there is a danger or not. The fact that everything is going well is not a reason for them not to question the status quo or to become lethargic. Collaboration and Communication, employee engagement, agility and flexibility are the prominent values in these companies. They have a dynamic strategy that can quickly adapt to the conditions. They have strong relations with customers and suppliers. They care about diversity.They have high expectations from their people. They empower them to solve problems at the lowest possible level and at their source.

Resilience is a very simple concept at first glance. However, although it is essential for a company to become resilient, it is a comprehensive work that needs to be handled methodically. Companies need to review established models when everything is going smoothly. Because resilience is about being prepared to deal with events that are unknown, unpredictable, unlikely but with very serious consequences.