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A Primer in Resiliency: Seven Principles for Managing the Unexpected
Author(s) -
Seville Erica,
Van Opstal Debra,
Vargo John
Publication year - 2015
Publication title -
global business and organizational excellence
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 16
eISSN - 1932-2062
pISSN - 1932-2054
DOI - 10.1002/joe.21600
Subject(s) - resilience (materials science) , business , perception , process management , volatility (finance) , risk analysis (engineering) , natural disaster , operations management , marketing , psychology , economics , finance , physics , neuroscience , meteorology , thermodynamics
For business organizations, the ability to manage volatility is a crucial strategic competency, one of the pillars of competitiveness. Contrary to conventional perception, resilience is not just about minimizing and managing the impact of natural disasters. It is about creating the agility needed to adapt to unexpected challenges—whatever they may be —and the capacity to seize opportunity from adversity. This analysis of seven principles of resiliency includes practical suggestions for implementing each one, along with examples of companies that have managed to improve their operational effectiveness, even in time of crisis, by putting these precepts into practice. ©2015 Wiley Periodicals, Inc.