This 2021, where many businesses are facing more unexpected business disruptions. Fortunately, for businesses that have implemented a strong business resilience plan, they are now enjoying the benefits of it and how it has helped maintain their business operations regardless of the different regulations.
Business resilience is defined as the ability of a company to quickly adapt to disruptions, while maintaining continuous business operations and safeguarding its people, assets, and overall brand equity and image.
Why is Online Business Resilience Important?
Success depends on the company’s ability to precisely predict the next business step, entrusting economic experts to anticipate unprecedented events, and putting online business resilience plans on delay if the threat level is low. Now that there is an ongoing pandemic, businesses are now feeling the adverse effects of overlooking their online business strategies. Many businesses did not prioritize implementing business resilience strategies on a large, long-term scale, simply due to the complete unpredictability that such an occurrence would happen in the organization’s lifetime.
Steps to Achieve Good Online Business Resilience
Online Business Resilience plans is key to keeping your business afloat despite the ongoing crisis. A strong, thorough business resilience strategy should encompass four general strands:
- Business Continuity Plan – Plans out and rehearses an action to all identifiers or anticipated operational disruptions and risks.
- Disaster Recovery Plan – Provides the organization a strategy to recover from real disasters.
- Value Protection Plan – Makes sure that shareholder value and stakeholder relations are protected in times of disaster.
- Exploitation Plan – Enables the business to identify, and exploit, commercial opportunities that may present themselves during times of substantial disruption.
The Solution to Online Business Resilience is Flexibility
There are many strategies to follow in terms of making your business resilient. But the essence of it all is adaptability. There are many moving parts when it comes to driving day-to-day operations, so when there is a major disruption, an immediate action needs to take place in order to minimize the impact. Business resilience planning relies on the ability to identify those essential functions, and prioritizing which components are critical to be performed in times of disruption.
Business resilience plays an essential role to keep your business afloat especially now that there is an ongoing pandemic. In the past year, many businesses have resulted in going online and boosting their online presence in order to maintain operations and to bring in revenue despite the government regulations. If you haven’t developed a plan yet in our new “normal”, iManila can help you improve your online visibility and brand awareness regardless of your operational objectives. iManila is a full-service digital marketing agency ready to help you with your website development, hosting, and digital marketing needs. Visit our website at https://imanila.ph/ to learn more or drop us a message through [email protected].