business-resilience

Vocabulary Word

Definition

'Business resilience' is a company’s capability to bounce back and resume normal operations after facing sudden disruptions. Just as a spring returns to its shape after getting pressed, resilient businesses can recover from difficulties.

Examples in Different Contexts

In operational strategy, 'business resilience' focuses on building flexible processes and systems that adapt to change. An operations director might explain, 'Our approach to business resilience involves diversifying our supplier base and investing in technology that supports agile operations.'

Practice Scenarios

Sustainability

Scenario:

Recent climate changes have severely affected our water supply for production. We need to plan for such eventualities.

Response:

Indeed, our business resilience could be boosted by exploring alternate water sources and other sustainability measures.

Business

Scenario:

We've hit some snafus with this project. It's a reminder that we need to factor in unknowns and be prepared.

Response:

I agree. We should reconsider our business resilience strategies to handle such circumstances better.