“Surviving a crisis can represent a turning point in organizational life, present opportunities to establish a reputation for caring and competence and rise from the ashes.”
COVID-19 has caused all businesses to change the way they conduct day-to-day business operations to remain productive. Looking at your business now and comparing it before the pandemic (or any major incident) occurring, your business risk profile has changed and needs to be reviewed based on lessons learned. Business resilience, capacity building, and adapting to ensure your business can smoothly transcend disruption and thrive!
“Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.” – Source: Nassim Taleb, Antifagile: Things that Gain from Disorder
The impulse can be to forget about the situation as soon as possible and prioritize all efforts into recovering production and profitability. However, we tend to overlook the opportunity to understand and evaluate our performance under stress; what were our strengths and weaknesses? Moreover, what actions can we put in place to prevent a similar situation from occurring again?
Capturing and integrating the lessons learned thus far through the COVID-19 pandemic will help organizations whether what remains of this present storm, and will be applicable to other kinds of disruptions that may occur in the future. Organizations must devote time to learning from experience and past events.
“Never forget lightning can strike twice in the same place.” – Source: M. Regester and J. Larkin, Crisis Management Lecturers
Performance can only be improved if your organization is willing and able to enhance processes, procedures, and behaviors as a result of an emergency, crisis, or business continuity event.
Critical assessment around resilience focuses on the advantages of learning from success and also the same level of importance on learning from failure.
“To survive, our organizations (and governments) have to become truly agile, able to adjust or even change their business models with extreme rapidity.” – Source: M. Davies, ContinuitySA: Business Continuity Institute
Keys to success:
• Act swiftly and decisively
• Always plan for the unexpected
• Implement a Crisis/Business Continuity Plan and a Crisis Communications Plan and process
• Develop an exercise, test, and evaluation continuum
• Staffing and associated impacts
• Assess and analyze your supply chain
• Get digitalized
• Learn your lessons and implement change.
Most organizations will attempt to conduct the work internally; this concept carries with it inherent risks, it is strongly advised to “work with the experts”. Emergency Management, Crisis Management, and Business Continuity planning and implementation are jobs for dedicated experts, so work with one. Otherwise, you may introduce unforeseen risks!
In order to soundly understand and be in a position to do so, a risk workshop consisting of lessons learned is a valuable step in the right direction and allows us to provide you with an updated Risk Profile: accurate and suitably realigned to your business operations.
United Nations (2020). The world must be ready for the next pandemic. We cannot afford to be complacent, and we must learn from our mistakes. Interview. https://news.un.org/en/story/2020/12/1080922
Who Should Attend:
• Key stakeholders/decision-makers
• Up to 6 people in attendance (Corporate Group) only
• ½ day workshop, face-to-face
• For session costs please contact your local Lockforce Office (See Contact Us).
• Financial Considerations Assessment
• Capability Assessment
• HR Assessment
• Government Collaboration
• Marketing Strategy Assessment
• Working from home and IT Considerations
• Cultural barriers based on short, medium, and long term lockdowns and the effects on the organization
• Thinking Through Possible Scenarios.
Note: this activity is for corporations to establish Lessons Learned, not individuals.
Would like a copy of the Lockforce Quarterly News Letter, please contact us on http://lockforce.com.au/contact-us/
If you would like to discuss your company’s needs further, please contact the Lockforce office nearest to you.