Reviewing your resilience strategies
Maintaining an up-to-date resilience strategy is a core business priority in today’s fast-moving business landscape, where the potential for risk is higher than ever before. Our interconnected world demands that executives are ready for near constant change. Using a standards-based approach to guide resilience strategy is the most effective way to protect corporate reputation, stakeholder sentiment and the bottom line.
Organizational risk profiles are becoming increasingly complex, particularly for global businesses. Geopolitical and climate-related uncertainties sit against the ever-present threat of cyberattacks, so it is imperative that every corporation maintains a schedule of ongoing resilience planning.
By using standards across an organization, it’s possible to significantly mitigate risk in critical areas and build resilience to protect against unexpected events – whether the challenges are internal or external in origin.
Many companies are now using standards-based scenario planning to get a better understanding of global risks, inform new processes and foster a risk-aware culture. The biggest risk an organization faces amid today’s uncertainty is not being prepared.
A resilient organization has a full understanding of how it is run and the environment in which it operates. From identifying operational improvements to better meet the needs of its customers over time, to the way it values its people and governs itself.
True resilience requires consistent evidence that the organization is not complacent and is always working to improve performance and grow sustainably. Using standards to achieve organizational resilience helps improve operational agility, while reducing the likelihood and impact of an unexpected or serious incident.
For example BS 13500 helps senior executives to implement effective organizational governance systems. It promotes a framework for clear roles and responsibilities through which management teams can plan and review their resilience strategies.
Furthermore, BS 65000 provides specific guidance on organizational resilience. It describes the foundations required and explains how to achieve enhanced protection, dealing with an organization’s capacity to anticipate, respond and adapt.
There are many other specific aspects of organizational risk which benefit from a standards-based approach. Here are a few of the key areas for consideration.
Cybercriminals look to exploit an organization’s security weaknesses, and human error is also a frequent cause of data breaches. Any kind of cybersecurity incident can impact short, and long-term corporate performance.
Organizations must be trusted to safeguard sensitive information – physical, digital and intellectual property – throughout its lifecycle, from source to destruction.
Corporate teams can use ISO 27001 to build systems which bolster information security, reduce the likelihood of an incident, optimize response if one occurs and mitigate any resulting damage.
Supply chain risk
There are numerous risks in every supply chain, but they are magnified if the supply chain extends globally. Unexpected events can lead to delays and extra costs as well as damaged relationships and reputations.
Internationally recognized standards provide a framework to improve supply chain resilience, helping businesses anticipate and adapt to events. ISO 28000 focuses on supply chain security management to help corporate teams build an understanding and awareness of all associated risks, as well as design measures to mitigate and control them.
The quality of an organization’s governance and output is a fundamental area for risk management attention, and one which international standards can help greatly. ISO 9001 is the world’s most recognized quality management standard. As a wide-ranging and powerful business optimization tool, it helps organizations increase resilience and reduce risk by emphasizing continuous improvement, cost reduction and sustainable management strategies.
Finally, standards also help executive teams gather information and learn valuable lessons from any incidents. The most successful organisations, however, are not those who are confident in their ability to recover and resume normal operations after a loss, but rather those who can avoid being overexposed through optimal resilience planning.
- Today’s corporate teams must manage almost constant change. Resilience is critical to maintain progress in spite of setbacks. Optimize problem solving capability by implementing standards-based systems which provide the agility to solve problems as they occur.
- Standards mitigate risk in critical areas and improve response to unexpected events. ISO 31000 is the international standard for risk management.
- Corporate teams can also use ISO 27001 to build systems which bolster information security, reduce the likelihood of a cybersecurity incident, optimize response, and minimize impact.
- The quality of an organization’s governance and output is a fundamental area for risk management. ISO 9001 helps companies increase resilience and reduce risk by emphasizing continuous improvement, cost reduction and sustainable management.
- Every supply chain harbours risk. Unexpected events can lead to delays and extra costs as well as damaged relationships and reputations. Quantify supply chain risk with ISO 28000 and create a framework for strategic resilience.