The definition of resilience from the point of view of psychology is a person’s ability to overcome traumatic circumstances such as the death of a loved one, an accident, etc. It is also said that resilience enhances happiness. But how can we move this into the business world? How does the concept of business resilience work, what are its benefits, and how to enhance it correctly? We’ll tell you below.
Resilience in business or how to adapt to adversity
The skill a person develops in order to adapt to adverse situations is what is known as resilience. The goal is not only to adapt but also to be reinforced.
Resilience in business tells us the same thing: the ability of a company or business to overcome setbacks and learn from them. It is a concept and a whole skill to develop. Well managed, it brings numerous advantages for the company and workers.
Resilience benefits in business, crisis or opportunity?
The main benefits of business resilience include:
- The company poses adversities or junctures as a challenge to overcome as well as an opportunity to learn from and be reinforced.
- Reaction capacity increases. It’s not just about resolving this unfavorable situation. But also, as far as possible, to anticipate it.
- Action plans. Once the situation that may harm the company has been defined, possible action plans are anticipated. In other words, assumptions are created of how this circumstance would be answered for the benefit of the company.
- Talking about resilience in business is talking about a resilient team that asserts your skills. In turn, he trusts those of his peers. On the other hand, he controls his emotions so that they do not interfere with the good running of the organization.
How to boost business resilience
A resilient company has the great capacity to create stable structures and work teams, anticipate change, act accordingly, and learn from adverse situations. Resilience, therefore, is also a skill that must be worked on personally and as a team.
- Display the objectives. When faced with an unfavorable situation for the company, we must be clear about what the objectives are. In this way, we can vary the path that takes us to them.
- Proactive and also resolutive. Both managers and employees must work on the same line and be as resolutive as possible. Being resilient also means knowing how to find solutions without being dragged by pressure.
- Improvisation capacity should also be worked on to achieve resilience in business. In all companies you work with organization charts, structures and templates. All well established and defined. However, when we are faced with a situation that breaks our schemes, it is also necessary to take charge of improvisation to act in the best possible way.
- Excellent working climate. There is nothing better to build resilience in business than a good working climate. Not only because the solutions are easier to find but also because self-criticism does work in the processes of improvement.
A resilient company can respond better to any adversity. A company that has the right partners that can align with its goals will be guaranteed success. If you also want this result for your hardware business, do not hesitate to contact us today. We’ll give you all the details of how IBMH can help you improve profitability through your imports of furniture hardware from China.