Resilience Management is the procedure of combining all the productive activities of the organization under one roof. This roof is usually a clear and transparent management organizational structure. Readiness and response are two areas of this methodology. Readiness activities are several and no company will carry everything together. Organizational leaders will find out those that are most right for the company. Readiness activities involve business continuity, disaster recovery, different governance, risk, compliance procedures, and operational resilience, among others. Resilience management has all the areas centrally directed. Response activities include emergency notifications and crisis management. These abilities have a company in proper conditions so that their active incident or crisis situations can be managed.
The approach of resilience management makes sure that all the response activities are effectively and holistically coordinated. Several executive leaders are assured of their abilities to manage one problem at a time, several people struggle when there are many disruptions happening at the same time, particularly when important performers are missing.
‘Equality cannot be expected of organizations given the nature of business’ (Book Review)
Resilience management has several benefits such as integration, efficiency, agility, and end-to-end strategy. Integration of the company are several and different and includes things like supply chain risks, cyber and IT disruptions, and life safety events, among others. Thus, the resilience management approach ensures that all these silos come under one roof. Maximizing the budget, optimum utilization of the resources, relating all the activities under one roof, and providing clarity about the plans and strategies of the organization comes under the Efficiency benefit of the resilience management approach.
To put it simply, resilience management is how the company gets the mastery over emotional problems of the jobs and deals with the daily life stresses and uncertainties. It is the skill to be consistent even in a challenging situation, and rise above any problems, particularly those related to surviving hardship. Staying positive during the crisis times was one of the approaches adopted by a small and medium enterprises.
When the coronavirus pandemic hit the world, the company had to shut its doors to the employees as they had to follow the government’s mandate. Working from home was impossible for the company as they didn’t have any IT processes that can be carried out from home. It was into counseling children of school students with their personal life and academic problems.
The company was also threatened by investors who had recently raised funding for growth and expansion. Thus, the company’s directors put up a meeting and asked each other to stay positive in the crisis times and come up with innovative products and services that can be dealt with during the pandemic times.
The company came up with an inventive product of voice messages on WhatsApp on parents’ numbers so that the children can get the required counseling and motivational lectures to follow-up with the existing students to complete their educational journey. This idea was looked down upon by the competitors because they thought that this will incur more costs for the company. But instead, the company’s consistent efforts, persistence, and dedication to staying firm in the industry helped it recover the economic costs involved.