^{Today’s world is volatile, unpredictable with many circumstances out of our control… (Image: Cisco)}

By Gordon Thomson, Cisco

There is no doubt the world today is a volatile and unpredictable place. Factors like the climate crisis, rising inflation, or the increasing cyber-security breaches, lead us to reconsider the investments we make across our organisations, prompting us to prioritise business resilience over digital transformation and maximising profit. 

Nevertheless, by focusing purely on resilience, we could be putting ourselves in a position where we get left behind. There is no doubt that resilience is critical, however it is essential to also focus on digital transformation and innovation simultaneously. 

But what is business resilience? 

Business resilience is an organisation's ability to absorb stress, recover critical functionality, and thrive in altered circumstances. In short, it positions organisations to prepare for anything.

Traditionally, business resilience was IT-focused. It meant ensuring that applications and data would remain available and secure during a disruptive event such as a cyber-attack—provided the disruption lasted only hours or days and affected facilities or workers in just one region.

Today, business resiliency needs to be about more than just protecting a company's IT operations. Organisations must be able to adapt operations in response to continuous change, as well as major events and continue to thrive.

Until recently, few businesses had resilience or continuity plans for global events that would last for months, resulting in extended travel shutdowns, and prompting lasting changes to how a company operates and where its employees work. 

What does this mean for Cisco, and other organisations? Put simply, the way in which we have thought about technology over the past 40 years, must evolve. 

Securing the Enterprise 

A key element in achieving business resilience is security resilience. This has always been a requirement in cybersecurity, but recent events have made it more critical than ever.

By now, we all know that avoiding cyberattacks one hundred percent of the time is unrealistic. As digital life expands, failing to protect our infrastructure could compromise network and national resilience, escalate cyber threats, and bring both ‘digital’ and ‘real’ life to a grinding halt. According to the Cisco Cybersecurity Readiness Index, «almost 60% of respondents (61% of the respondents in Switzerland) said they had experienced some kind of cybersecurity incident in the last 12 months. The incidents cost 71% of affected organisations at least US$100,000, with 41% (48% in Switzerland) of those affected saying the overall cost was US$500,000 or more».

What matters now is how fast we can identify and contain threats, mitigate risks to our organisation, and bounce back in the event of impact. Services Providers and companies like Cisco are uniquely positioned to help organisations and customers protect their digital lives and build resilience through a combination of cybersecurity solutions.

Solutions Driving Sustainability 

Technology also plays a pivotal role in driving environmental, social and governance (ESG) agendas for businesses. In EMEA, sustainability-related policies and regulations have already taken effect, such as banning certain materials from being used in products. 

Organisations should rethink their strategies around their operations management for IT, OT, and energy networks to focus on automation, energy, and resource efficiency. The right technology can provide the visibility and insights organisations need to act on their sustainability goals and commitments. Sustainability can transform existing markets and create new opportunities. 

Using technology as an accelerator, together we can continue our journey to build and power a more sustainable future for all.

At Cisco, collaboration and innovation among stakeholders, from businesses to researchers, is fuelling a sustainability and digital revolution with cybersecurity top of mind. We work closely with Service Providers and partners around the world to support businesses with more energy-efficient solutions and setting new industry standards. 

The Role of Leadership & Talent

Simultaneously, various challenges test the strength and adaptability of businesses and effective leadership is crucial in constructing business resilience.

In a highly competitive market, talent stands as a vital point of differentiation for companies aiming to maintain their agility. By acknowledging the importance of allocating resources to individuals, processes, and technology, leaders can establish organisational robustness and guide the company towards success even in turbulent times.

Navigating Uncertain Times   

Technology can truly be an enabler in supporting businesses resilience strategies. However, it is imperative not to view technology in isolation. 

By adopting a balanced approach that combines robust resilience practices with a keen eye on emerging trends, organisations can position themselves to stay competitive in a rapidly evolving landscape and navigate uncertainties while capitalising on the potential for innovation-driven progress.