The world has become a huge interconnected network that is going through a lot of transformations. Due to this, enterprises are exposed to all types of threats and disruptions. To survive this transformation, businesses need to take a strategic approach to mitigate these threats. Some organizations may not have this as a priority, but that may stop the progress if your business is not prepared enough.
Let’s try to understand what Business Resilience is and the relationship with Business Continuity.
What is Business Resilience
Resilience is the ability of an organization to adapt to disruptive situations. It focuses on promoting prosperity by preserving the value of a business. Business resilience supports companies to recover from risks without interrupting the continuity of operations.
Resilience and Business Continuity
Resilience makes businesses capable of withstanding disruptions and helps in restoring critical business functionalities. Businesses can align plans, management systems, governance structures, and operations accordingly. It ensures that the business withstands the changing environment and minimize the impacts of threats.
It is often observed that Business continuity management and business resilience are considered similar concepts, which is not entirely right. Every organization follows business continuity guidelines, though their plans may differ depending upon the Business conditions and the requirements. Business continuity is more of a goal-centric approach, which endorses growth and constant improvement of an organization.
Resilience is a two facet process. One of them is resilience by recovery, and the other one is resilience by design. Resilience by recovery takes the responsibility of making business decisions to make organizations capable of recovering from disasters. On the other hand, resilience by design works on the scopes for mitigating threats from the core to let the enterprises thrive. The business continuity concept falls under the category of resilience by recovery.
Resilience and Business Continuity are two separate concepts and should not be mixed. Though business continuity is a part of business resilience, they are not the same.
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