Organizational resilience means that the business can weather any storm and withstand any hits, and still remain operational, productive and profitable.
Being resilient means that the business is still able to recover and grow, bigger and stronger than ever.
If we are to take the phrase “business continuity” for its surface value, the most obvious meaning would be the ability of the business or enterprise to continue operating as a going concern for a very long time.
But the term actually means more than what the words literally mean.
Other businesses will have apprehensions about continuing any partnership they have with the company, and they may even consider severing any ties they have with that business.
This will definitely make recovery more difficult for the business, even long after the crisis has passed.
When drawing up their business plans, they see their business continuing to exist and operate in the many years to come.
Thus, they make every decision with continuity of the business in mind, while taking into account the possible effects of unexpected events that may lead to disruptions and interruptions in business operations.
The International Organization for Standardization, in ISO 22300, defined “business continuity” as the capability of an organization to continue the delivery of its products or services, at acceptable predefined levels, following a disruptive incident.
It implies the responsibility of the business owners and management for the business in ensuring that it stays afloat and “on course” despite any obstacles or stumbling blocks it encounters along the way.