Business Resilience
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In today's competitive marketplace, business disruptions are no longer merely embarrassing or inconvenient -- they can be potentially fatal to an enterprise. At the very least, disruptions can lead to lost market share, lost goodwill, and a decline in shareholder value. In a worst case scenario, disruptions can lead to a business failure. To limit the potential financial impact, companies need to improve its capability to respond rapidly and appropriately to business disruptions. While not every business risk can be eliminated. Many risks can be better managed with an appropriate contingency plan. Gary Hamel and Liisa Valikangas write in Harvard Business Review that to contain business risk within acceptable levels, an enterprise and its value chain partners must ensure that their combined infrastructure is resilient, recoverable, and adaptable. A resilient infrastructure can protect the ability of the value chain to deliver goods regardless of unexpected events. This manifests itself in an agile, available and recoverable business processes, technologies and organizational constructs (Hamel & Valikangas, 52). Organizational effectiveness measures how successfully organizations achieve their missions through core strategies. Given the increasingly complex environments in which all firms operate, the capabilities that supported past performance will not work as well in the future. Senior management must understand the implications of this gap betwee
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chain from what charitably might be described as vendor instability (Swartz, 8).
In the context of business continuity, the term resilience has often been used with regard to information technology and the facilities environment. Grey explains in IBM Systems Journal that the focus of business continuity is changing to become ever more concerned with prevention and avoidance of interruptions, and that business resilience supports this trend. A high availability computer system offers resilience to failure, for example by mirroring between two identical servers where a failure of one is automatically detected allowing the remainder to take over seamlessly so that system access continues uninterrupted (Grey 484). An article in Computerworld reminds us that information technology resilience is not a substitute for a business model focused on preventing interruptions. In the example of a system mirroring between two identical nodes, a creeping data corruption could replicate itself before detection. This would render the backup system ineffective. Resilience without monitoring is useless, as the first failure goes undetected until service is lost through a second failure. Resilience implementations are often tactical and fail
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Some common words found in the essay are:
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Approximate Word count = 2377
Approximate Pages = 10 (250 words per page)
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