How organisations can build resilience

In this blog as part of the Future Of… series, David Shadwell Accounts and Business Support Partner outlines how organisations can build resilience during tough times.

Businesses that are agile, flexible and opportunistic can thrive in a world of uncertainty. A truly resilient organisation has an ability to turn a crisis into a source of strategic opportunity.

Given we are now in a new normal, there are likely to be some key areas of opportunity critical for future success, digital, transformation, organisation, resilience and sustainability. Businesses must act faster than ever, creating cultural shifts required to enable truly digital organisations.

Leaders have to make high stake decisions fast to ensure the resilience of their operations as shifts in the market have happened and the importance of good, accessible data has never been higher. If we think about a resilient business as one that has, and is able to get, a good awareness of the current situation, understands its core vulnerabilities and has the capacity to adapt in a complex and dynamic environment, then it’s easy to see why good, accessible data is so important.

Even where a business model cannot change significantly, and therefore the business cannot pivot to any great extent, a digital business model can often provide a great customer experience earlier. The ability to gather large amounts of customer data then provides a platform to learn more about what customers really want, so you can continue to improve the experience. A great digital experience creates significant customer loyalty, which is hard to break, putting up barriers for any competition arriving later to the party.

Effective management of risk is the key to an organisation realising this full potential, creating competitive advantage and protecting shareholder value. The change management around this hinges on exciting the organisation about the change and empowering them to do things differently. If you would like to speak with David Shadwell please contact him today on david.shadwell@chiene.co.uk or call 0131 558 5800.

 

Photo by Ivan Bertolazzi from Pexels

 

Chiene + Tait’s Future Of… series launched

Chiene + Tait has launched a new LinkedIn group aimed at providing a discussion forum to support Scottish businesses in a post-pandemic world. The Future Of… group will bring together experts from across the Scottish and UK business community and will focus on key economic challenges being faced, and how these could be overcome by working collaboratively.

In launching the group, Chiene + Tait Chair, Lena Wilson CBE will deliver a series of Future Of… videos with high-profile speakers. The first video features a discussion with Professor Graeme Roy, Head of Economics at University of Strathclyde and Director of the Fraser of Allander Institute that covers core factors that will impact the speed of economic recovery in Scotland. Further discussions with Professor Roy will appear on the Future Of… LinkedIn group over the coming weeks, with future speakers in the pipeline discussing the future of entrepreneurship, the environment and climate, and Scottish businesses.

The initial session, available from today, features Professor Graeme Roy, Head of Economics and Director of the Fraser of Allander Institute, discussing core factors that will impact the speed of economic recovery in Scotland.

Further sessions will include a post-Covid analysis of entrepreneurship, the environment and climate, and Scottish businesses. The videos will analyse the potential opportunities to emerge after a period of economic stagnation, focusing on finance, business models, leadership and outsourcing.

Commenting on the launch of the Future Of… series, C+T Managing Partner Carol Flockhart said: “The impact of Covid-19 is profound and will be felt for years to come. While this is inevitably creating huge challenges for many businesses and impacting heavily on a number of industry sectors, a crisis of this scale also presents longer term opportunities.

“The Future Of… series is focused on the economic landscape beyond the pandemic, considering where future opportunities may lie and how Scottish businesses can align themselves to ensure they are able to rebuild and benefit from these. We are delighted to have input from some of the UK’s leading business figures whose insights we are pleased to share across the business community.”

Get involved and join the discussions here.