COVID-19, and to an extent Brexit and climate change, have all made organizational resilience a strategic issue. As we look to the future of business operations, resilience will be a defining strategic issue for many organizations.
BS 65000 Guidance on organizational resilience has recently been revised to enable the UK to remain at the forefront in resilience thinking and shape the future of global standard development in this area. This revision also serves to better support organizations as they seek to strengthen their long-term resilience and responsible business agendas.
How quickly was your business able to adapt during the COVID-19 pandemic? Could it survive another unforeseen crisis? These are the questions that have no doubt been plaguing the minds of every business owner, executive, investor, and employee since 2020, highlighting the strategic importance of resilience for every business, no matter the size or sector.
Organizational resilience is the ability of an organization to respond and adapt to change, anticipate future threats and opportunities, and identify its risks. It includes effective planning and decision-making to build adaptive capacity in complex and rapidly changing circumstances and the agility to manage a broad range of risks unique to its operation.
The benefits of resilience are clear, enabling organizations to:
Adapt successfully to unforeseen and disruptive changing environments
Gain a competitive edge by identifying gaps and taking advantage of opportunities
Be more agile and innovative by learning from trends
Reduce costs and increase efficiency by avoiding potential pitfalls
Obtain a better understanding of risks and opportunities
Preserve and improve their reputation by being seen as vigilant and robust
Engender trust amongst external clients and internally amongst staff
Cultivate a culture of shared purpose and values
The revised BS 65000 will help organizations understand what resilience means to them and provide the necessary guidance to help businesses reap the benefits and build a more resilient future.
Discover how a resilience-based approach supported supply chains throughout the COVID-19 pandemic by reading our article ‘Supply chain resilience standards: Responding to COVID-19’.
Originally published in 2014 as a guidance standard, BS 65000 is a landmark organizational resilience standard, that describes the foundation and action required by organizations to build resilience. It covers an organization’s capacity to anticipate, respond, and adapt – which could be crucial to its survival.
BS 65000 has been revised as a code of practice containing more recommendations, as well as guidance. The revision updates the terminology, approach, and scope of resilience across industries, sectors, and organizational types and sizes. It provides guidance and recommendations on what constitutes organizational resilience, the defining attributes, and the practical measures that should be considered and taken.
Currently, several global standards exist within the crisis management and business continuity management arenas which impact the overall governance of an organization.
This organizational resilience standard can help to enhance these practices by integrating the disciplines that are essential for resilience. BS 65000 references other activities including risk management, horizon scanning, and change management.
BS 65000 and over 100,000 more internationally recognized standards are available for simple and flexible access with a BSI Knowledge subscription. This tailored service provides flexibility, access, visibility, and control over the standards and insights your team needs to achieve your strategic objective. Request to learn more.
Ensure your business is incorporating the latest on resilient thinking into its strategies by adding BS 65000 to your collection today.