In our second annual survey of Organizational Resilience, senior executives reveal how they feel about every aspect of their resilience in our Organizational Resilience Index 2018.
More than 800 senior leaders from organizations around the world, in multiple sectors, have rated their business on 16 core elements that should be considered as part of a resilience strategy.
Key Findings include:-
- An increase in awareness and importance of Organizational Resilience by senior leaders
- Financial Management is the most important and best performing element
- Community Engagement is perceived as the least important and least performing element
- Supplier Management is the best improved element as organizations have put greater emphasis over the last 12 months to gaining greater control of their supply chain. Governance and Accountability also rose highly on the importance rank.
- Technological worries, Governance Concerns and Skills shortages are the primary challenges to continued resilience
We also see how the results vary depending on where in the world you do business, with innovation a key priority in China, and less so elsewhere. You’ll find nuances based on respondent’s position within the organization, and depending on the organization’s size and age.
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Relevant parts of the following collective best practice standards have been merged to create the 16 core elements:
- Guidance on Organizational Resilience (BS 65000)
- Organizational Governance (BS 13500)
- Information Security (ISO/IEC 27001)
- Security and Resilience – Organizational Resilience (ISO 22316)
- Risk management. Principles and guidelines (ISO 31000)
- Supply chain risk management. Supplier prequalification (PAS 7000)
- Environmental Management (ISO 14001)
- Business Continuity (ISO 22301)
- Quality Management and Customer Satisfaction (ISO 9001)
The senior executive responses created the world’s first Organizational Resilience Index Report in 2017, and the latest 2018 report now includes new data on trends and changes between the two. It provides:
- perceptions of organizations’ performance across the 16 elements
- perceived importance of these 16 elements to the future success of their business
- insight into how perceptions differ by sector, geography, size and longevity
- identification of trends and future challenges