The ability of an organisation to overcome a crisis is fast becoming an important facet, especially in the current climate, which is impacting strongly upon worldwide economies. The need to be agile and adapt quickly to overcome unforeseen circumstances is one of the key strategic capabilities that organisations everywhere must map out to succeed in the business, social and political landscapes of today.
However, most managers fail to apply the necessary resources required to ensure their organisations have the capacity to overcome disasters and disruptive factors, as we are currently witnessing in China, Japan, Italy and Spain.
Too often, business leaders simply fail to acknowledge or recognise that their organisations are susceptible to disruptive factors and forms of crisis… and today are paying the price. The trust and belief they had in their strategic plans for emergency situations may not work or carry their business through such unprecedented events.
Our best example in recent years was the economic crisis of 2008, when many organisations just kept on spending and forecasting high turnover, not forseeing or expecting the crash that was to come. When it did, their plans were shattered and so were those of the people who worked for them:
But what are the key elements that can help your business overcome such a critical situation:
- Developing a Resilient Organisational Culture
Culture is key to all businesses and your team. Building strong, supportive relationships with your people is the start of creating a thriving corporate culture. By engaging your employees, through sharing your vision and goals, you future proof your business for when crisis lurks.
2. Networks and Relationships
Another key ingredient in developing a resilient organisation, capable of coping with all manners of breakdown, is by improving the network of relationships with your customers and suppliers, instead of solely focusing on transactions and revenue, which are perceived to be the core goals of most organisations.
3. Being Change-Ready
No one really likes change but that doesn’t mean your business shouldn’t be ready for it. But it is the only way any business can mitigate the crisis landscape that most businesses face today. Proper planning that sets an organisation on a path where it is able to accept and integrate emerging trends and events into its processes, results in an organisation that is better able to deal with a crisis.
To learn more about being ‘change-ready’, download our free guide – Managing Change In the Digital Era.
To help your business become more agile, attend How to Develop and Lead an Agile Team During a Crisis.