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Resilient Businesses Survive, Thrive or Nosedive - Time to Build a Strategy?

Posted by StellaPop on Dec 19, 2018 7:23:00 AM
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The word resilient has two definitions in general use. The first refers to a person or entity that's able to withstand and recover from difficult situations. The second reference an object with the ability to spring back into shape after bending, stretching, or being compressed. 

Both definitions work when referring to your organization's resilience in business. 

As defined on TechTarget, "Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations..."

Essentially, a resilient organization that quickly adapts to the need for change while also maintaining its shape

What's the Shape of Your Organization?

The shape of your business is the theorized concept of the actions you take to do business. Maintaining your shape doesn't mean your business model never adapts.

That's actually the opposite of the point of this article. Instead, it means that rather than a collapse, your business adapts and grows throughout the changes in customer needs, technology. and effectiveness of strategies. 

How Can Your Organization be Resilient?

First, Pay Attention.

Track and monitor the behaviors of your consumer in both their purchasing behavior and their interactions with your systems and brand. It's no longer acceptable to ignore the consumer and user experience in order to maintain success. 

"Conversations between brands and consumers—giving a sense of 24/7/365 connectivity like we feel with our friends and family—are transformative."

Seek Out the Problems

Business owners who seek out problems versus simply solve them are the difference between resilience and keeping your head above water. Eventually, the business owner doggy paddling across the ocean will tire and lose the battle. 

Seeking out problems before they become apparent, or even become a problem, is proactive adaptability.

Work in Agreements, Not Decisions

Decisions are done by one person, usually at the top. Agreements are done by a team. Decisions are final and unmovable. Agreements are flexible to the needs presented. Decisions are for one issue. Agreements set a standard of action. 

Reject the Concept of the Ownership of Ideas

Your organization's resilience is contingent on cooperation and innovation. There is no room for one person to own an idea. If you disagree, that may be your pride talking. 

When developing a resilient organization, creating a working environment that emphasizes cooperation and creativity is essential. Whether it's the cultural expectations of what happens to shared ideas (they're harshly rejected, accepted, or explored) or the literal environment (closed off, open) the environment you create influences the resilience of your organization. 

Above all, remember that resilience is innovation and innovation is never perfectionism. 

Change requires you to adapt. The desire to actually help your customer requires you to innovate. Expect your business to update, transform, and bend with the pressure and you'll be setting your organization up for more than resiliency: You'll be setting yourself up for success.

We can show your business how to survive and thrive. Let us help, we build successful strategies every day for our clients.

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See Also:

Business Minded: Organizational Strategic Planning in 8 Key Steps

Running Lean: Do You Have Mid-level Management?

Fractional COO's and Why You Need One

Topics: Management, Business Consulting, Management Consulting

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