Inflation. Economic uncertainties. Change. In today’s continually disruptive landscape, embracing a strategic approach to resilience is a necessity. To thrive—and to be able to help your clients—you must be able to navigate crises.
The key to your navigational superpowers rests in your ability to adapt and succeed in the face of constant disruption. PwC’s bi-annual “Global Crisis and Resilience Survey 2023” delves into how organizations are directing their resources, efforts and investments toward building resilience to thrive in a state of permacrisis.
The survey compiled data from business leaders around the world, drawing a line back to true resilience—the core of maintaining a competitive advantage. According to the survey, 89% said that resilience is one of their most important strategic organizational priorities, while 70% said they are confident in their organizations’ ability to respond to various disruptions.
Here are three key takeaways from the report:
No. 1 — Integration: An integrated resilience program is essential
It is no longer sufficient for organizations to be in silos as they address today’s complex and interconnected risks. Enterprises are actively moving to an integrated approach to resilience, centrally governing and aligning multiple resilience capabilities around what matters most to the business, and embedding the programme into operations and the corporate culture.
No. 2 — Leadership: Thriving in permacrisis requires an executive leader and upskilled teams
A successful resilience strategy and program needs: executive sponsorship from the C-suite; a senior leader with clear responsibility for the program; and a skilled team to drive the program across the organization. Thirty-one percent said building a team with the right skills is a major challenge in establishing a resilience programme, while 57% cite upskilling future leaders as one of their three most important elements of future-proofing resilience.
No. 3 — Program approach: Building operational resilience around what matters most
Organizations must build operational resilience and ensure that enterprise planning and preparation are part of a broader continuous cycle. As more organisations integrate their resilience programs, many are adopting the core principles of an operational resilience (OpRes) approach, focusing on protecting what matters most and prioritising investment based on what’s critical to their organization and stakeholders. This allows organizations to manage risks with high reliability and to drive efficiency.
Those who have moved to an integrated resilience programme are significantly further ahead in many of the core elements of OpRes: building a robust corporate immune system where an organisation can adapt, flex, and move forward stronger.
For a complete look at the report, CLICK HERE.
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