Resilience is the ability to weather uncertainty by building strong foundations and remaining agile. It’s founded in the determination to keep trying and do whatever it takes. It’s the ability to suffer setbacks but hold true to what you’re here to do. It’s toughness; the capacity to recover quickly from difficulties. Businesses that are not resilient buckle. We only need to look at the numbers that failed during New Zealand’s covid-curbing lockdown.
Some examples of businesses which lacked resilience during COVID-19:
- Those without a strategy started running, but were unsure where to put their focus
- Those without strong culture and leadership performed worse than usual as their communication structures fell down and their people went missing in action
- Those that needed to borrow cash, or support, didn’t have the networks they needed
- Those without enough cash didn’t open again after lockdown
- Those without a sales pipeline forecast, or who didn’t relook at the market opportunity have found their sales haven’t returned despite reopening
- And those who were most resistant to change haven’t learnt from the crisis. They’ve failed to bank the lessons they could use to propel their business forward.
Explore this report and learn more about resilience for your business
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