Resilience is defined as the ability of a living system to restore its systemic structure and functions after a disruption.
If we were to draw parallels between the natural ecosystem and the enterprise ecosystem, we would understand that the most important attribute in times of crisis is resilience. The COVID crisis has forced enterprises to run on all cylinders to absorb the shock of the crisis and find adequate solutions.
Diversity, which is the complementarity between organisms in a system and the duplication of functions played by different species, increases the ecosystem’s resilience capacity. In the same manner, a resilient enterprise is one that:
Diversifies its partners and income streams. The time is now for collective action towards systematic action. Surrounds itself with trustworthy partners. This involves streamlining the whole value chain to avoid unpleasant surprises.
Does not neglect the individual resilience of their internal stakeholders. Community resilience cannot be achieved without individual resilience. A resilient enterprise supports its stakeholders through a crisis. A study by CodinGame, that collected data from 2000 developers, showed that 29% of the developers believed that their work-life balance had been destabilized by teleworking. Teleworking was commonplace among developers even before the crisis but now special care is needed to ensure that a balance is struck as steps are taken to adapt the work environment to the prevailing circumstances.