The Power of Resilience: Yossi Sheffi
Yossi Sheffi is a leading expert on the topic of resilience, and he’s here to tell us what it means, why it matters, and how to get it.
In his new book, Resilient Enterprise: Overcoming Vulnerability in a Wired World, Sheffi explains that resilience is the ability to bounce back from failure or shock. But there’s more to it than that—resilience is also about having the ability to adapt quickly and make decisions quickly when you’re faced with obstacles. And while this concept may seem simple at first glance, it’s actually incredibly complex!
The Power of Resilience: Yossi Sheffi
Yossi Sheffi, a professor at MIT and author of the book The Resilient Enterprise, argues that resilience is the key to business success in today’s volatile world. In this article, we’ll explore what he means by “resilience,” how companies can develop it, and why it matters so much.
What Is Resilience?
Sheffi defines resilience as “the ability to adapt to change while retaining core values and strengths.” He believes that resilience is a skill that can be learned, practiced, and improved upon—and that it’s crucial for businesses and organizations today.
Why Is It Important?
Sheffi makes three key arguments about why resilience is important in today’s business climate:
1) Businesses need to be able to adapt quickly in order to stay competitive. If they don’t have the flexibility required by change, they’ll lose out on opportunities or find themselves unable to react effectively when their environment changes suddenly (for example, if they’re hit with an unexpected shift in regulations). Resilient organizations are able to respond quickly because they have built-in mechanisms for adaptation rather than having these mechanisms imposed on them externally.
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About the Power of Resilience Yossi Sheffi Book PDF
How the best companies prepare for and manage modern vulnerabilities–from cybersecurity risks to climate change: new tools, processes and organizations for developing corporate resilience.
A catastrophic earthquake is followed by a tsunami that inundates the coastline, and around the globe manufacturing comes to a standstill. State-of-the-art passenger jets are grounded because of a malfunctioning part. A strike halts shipments through a major port. A new digital device decimates the sales of other brands and sends established firms to the brink of bankruptcy. The interconnectedness of the global economy today means that unexpected events in one corner of the globe can ripple through the world’s supply chain and affect customers everywhere. In this book, Yossi Sheffi shows why modern vulnerabilities call for innovative processes and tools for creating and embedding corporate resilience and risk management. Sheffi offers fascinating case studies that illustrate how companies have prepared for, coped with, and come out stronger following disruption–from the actions of Intel after the 2011 Japanese tsunami to the disruption in the “money supply chain” caused by the 2008 financial crisis.
Sheffi, author of the widely read The Resilient Enterprise, focuses here on deep tier risks as well as corporate responsibility, cybersecurity, long-term disruptions, business continuity planning, emergency operations centers, detection, and systemic disruptions. Supply chain risk management, Sheffi shows, is a balancing act between taking on the risks involved in new products, new markets, and new processes–all crucial for growth–and the resilience created by advanced risk management