Business Resilience is the ability of an organization to absorb the impact of a business interruption and continue to provide a minimum acceptable level of service.
But how can we know whether or not we are a resilient organization, and how should we prepare for it? We have created the Factor 1 / R methodology, based on four factors:
R1 = Business Continuity Management (BCM)
R2 = Degree of Digitization
R3 = Operational flexibility
R4 = Financial Health
With the weighting of these four sub-factors, we can therefore have a fairly accurate view of where we are in terms of Resilience. Factor 1 / R is a very good diagnostic tool, and it allows us to guide where we should put our efforts to improve our ability to contain business disruption.