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What does resilience mean for your business?

andy-howeAndy Howe, Kingdom’s Head of Risk and Mitigation (pictured), reflects on what is meant by the term “resilience”, why it is of vital importance to businesses, and what steps businesses can take to ensure that they are resilient, in this article below:

Resilience can mean a number of things to a number of people but at times of crises resilience is the “ability to absorb and adapt in a changing environment” and can be critical in ensuring the companies survival.

There are a number of ways to build resilience within an organisation and there are four pillars to success;

  • Understanding the organisation, its values, vulnerabilities and structure
  • The company’s strategy and contingency planning
  • Implementation of the above and
  • Continuous improvement and monitoring

A good starting point is to assess where your Company is now, where you want to be and the ‘road map’ to getting there.

Resilient companies are those with an adaptable workforce displaying a positive ‘can do’ culture and behaviours that stem from effective leadership and empowerment in an evolving environment. This is underpinned with practised policies and planning, professional standards and a healthy infrastructure.

A knowledge of your vulnerabilities and an agile workforce capable of responding at times of crises will support your response during challenging times and ensure your company is in a healthy position to evolve and adapt to the challenges of the 21st Century.

Please visit http://www.kingdom.co.uk/services/risk-and-mitigation or call 0845 051 7702 to find out how Kingdom can support you further with our Risk & Mitigation services.