The terrorist event of 9-11 was the first major real-time global crisis that showcased the vulnerabilities of globalization. Media reported the event in real-time and demonstrated that in the digital age disruptions in one area can immediately impact the economic health and well-being of countries and companies far away from where the disruption originated.
Stay competitive – be resilient
Today, the world has gotten even more sophisticated and connected where the potential for disruptions has proliferated with increased technological complexity and interdependency, terrorism, mutating viruses and even weather phenomena – disruptions now cascade faster with detrimental impact across networks, sectors and geographic borders. Cloud computing, social media and tablets being incorporated into business solutions has made Operational Resilience the industry term to frame the understanding of the organization’s ability to alter operations in the face of changing business conditions. For companies, communities and countries alike to stay competitive the key differentiator is to anticipate risk, limit impact and bounce back rapidly – to be resilient. The organization or enterprise that is operational resilient incorporates all the current technological tools available with time tested strategies, plans, processes, standards and operational procedures.