Business resilience should be considered as a component that makes it easier to forecast market trends. Thus, business leaders can implement strategies that are free from the harmful effects promoted by the myths that were spread during the year 2020, when the pandemic took hold.
To face the instability of the environment, companies must create sturdy alternatives based on the economy of each sector, instead of trying to identify and quantify the macroeconomic impacts reported by the various media.
How to face the challenges of instability?
- Taking a holistic view of resilience. This is an attitude that allows executives to make more assertive decisions in the face of a wide variety of choices;
- Extending organizational capabilities incrementally without neglecting the long-term perspective. Such as, for example, new trends in the home office remote mode; shorter, faster and less dependent supply chains from a single supplier; commercialization of products and services through digital platforms; digitization/automation of processes using RPA (Robotic Process Automation); and information security and measures against attacks by false profiles in virtual transactions. These are some of the trends that show no signs of reversal, but rather of steady progress;
- Building a new corporate governance structure capable of influencing strategic and organizational objectives, in addition to actions that extend to the socio-environmental context.
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Since 2019, Grant Thornton has been a supporter of the FDC Strategy Reference Center - CRE. Among its purposes is the dissemination of knowledge and partnership in relevant content that collaborate for the sustainable development of organizations and society.
Certainly, these are not comprehensive options and the endless search for new understandings
must remain. It is necessary to maximize learning in times of crisis, opening up to a renewed understanding of what organizational resilience is. This will allow the gain of new competitive advantages that can meet the interests of multiple stakeholders.
The reframing of competitive strategies by resilient organizations must consider the new realities of the context, investment demand, and opportunity costs. On the other hand, there will be dependence on the willingness of leaders to balance the creation of value in the short and long terms.