Glossary definition: Business Resilience

Business Resilience: Strategies for Adapting to Change

Business resilience is the ability of an organization to anticipate, prepare for, respond to, and recover from disruptions while maintaining continuous operations and safeguarding people, assets, and operations. It is the capacity to withstand and quickly recover from any kind of disruption, such as natural disasters, cyber-attacks, supply chain disruptions, or financial losses. Business resilience involves having the right strategies, processes, and systems in place to ensure a quick response to any kind of disruption. This includes having a well-defined plan of action, a well-trained and informed workforce, and the right technology and tools to help manage the situation. Business resilience also involves having the right resources to help the organization get back on its feet, such as financial resources, insurance, and the right partnerships and collaborations. Business resilience is an essential part of any organization’s risk management strategy and is key to its long-term success.