Business Resilience a new currency

Recently business crisis management has become the new normal. This means Business Resilience is a new currency.

Organisations that master this will emerge much stronger in the new dawn.

Some of the Business Resilience lessons experts have shared include:

• #Communication – Provide clear messaging to your stakeholders. To customers, what you are doing to increase confidence in your business. Continuously communicate with your employees about mitigation steps you are taking to support & protect them. Converse with your stakeholders such as suppliers to identify the risk areas and devise mitigations.

• Embracing #Technology – The digital skills gap has decreased. Consumer behaviour has changed and seen several industries offer various digital experiences. For instance, remote vehicle insurance inspections are now common.

• Strategic #Partnerships – Reassess your business partnerships, do they share the same values & goals as your organisation? Will they work with you through the crisis? When partners are in sync, finding the appropriate solutions through tough times is easier

• #CrisisManagement Team – Set up a team of key decision-makers from each department within your organisation to form the Crisis Management Team. The team should outline the crisis and continuity plans. Empower the team to make and implement relevant decisions quickly.

These are just some of the key lessons for businesses in this ever changing world. However the most important one is be ready for change overnight!