Perils in the modern business atmosphere are always transforming at a pace defying to keep up with even to most experts in the world. From a business viewpoint, the term resilience means the capacity of a business organization to recover from severe conditions quickly. Due to the dynamicity of the business atmosphere accompanied with transforming paradigm of the structure of the market and fluctuating economic conditions, institutions have established a competitive power which will keep them running.
Globalization has opened various opportunities for the corporate world, but brought unimaginable hurdles in front of even top-notch establishments in the world (Sharma & Bhargava 2016, p.9). Some of the factors supporting such risky business environment include the constantly changing demographics, an increase of two-income families and highly skilled workforce who want to control their careers. All these progressive developments have forced various sectors, industries, governmental as well as non-governmental organizations to act and ponder in different ways to achieve their goals and objectives in the business society.
Economist and philanthropists agree that the institutional atmosphere becomes affected by numerous events that transpire outside the organization, as the employees try to bring the changes into the business (Paul, Bamel & Garg 2016, p.309). As a result, the destructive nature of the society in conjunction with the dynamic business atmosphere in the corporate world has left employees, as well as the managers, with a perception of insecurity.
The employee is experiencing constant job insecurity, while the employer is fighting to achieve a competitive advantage over the other business organizations. Consequently, managers are seeking for investment opportunities and unique resources that others will not duplicate easily. Therefore, the nature of business environment demands organizations and employees to remain resilient by adopting sophisticated strategies and policies that will help them compete for the scarce natural resources.
The traditional strategies to safety and security are facing challenges by the increasing complexity of the modern society with adverse socio-economic systems and structures. Cyber-attack has been a major concern in the 21st century accompanied with a society that is becoming more IT-dependent (Kaschner & Jordan 2015, p.165). These attackers majorly aim at the system that stores critical organizational data with the goal of compromising the full regulatory coordination. Therefore, a society proven to be IT-dependent should build on their internet resilience by establishing sophisticated IT security protocols (Ferdinand 2015, p.185).
Risk management and resilience in the perspective of safety both have some level of agreement in description and concept. Consequently, the term ‘resilience’ refers to the behavioral capability of an object, a system, a structure or a body, as it reacts to and recuperates from physical or mechanical challenges. These mechanical problems arising within the society are diverse, ranging from internet hacking, earthquakes, hunger, and floods to the collapse of infrastructures.
The UK Cabinet office defined the term ‘resilience’ as the capacity to detect, thwart, and, if possible, to handle and recover from destructive hurdles of the society at every particular phase (Helm 2015, p.102). In an existing community, the level of security resilience will greatly depend on the available resources, such as social capital, organizational culture, as well as an informal network of communication. Security matters have presented management complexity among the various governmental and security agencies, since they are often unpredictable and accompanied with a high level of physical, system and mechanical damages. Therefore, the resilience of a system or a society is important as the security issues are of concern.
Ferdinand, J. 2015, ‘Building organizational cyber resilience: A strategic knowledge-based view of cyber security management’, Journal of Business Continuity & Emergency Planning, 9, 2, pp. 185-195, Business Source Complete, EBSCO host, viewed on March 6, 2017.
Helm, P. 2015, ‘Risk and resilience: strategies for security’, Civil Engineering & Environmental Systems, 32, 1/2, p. 100, Publisher Provided Full Text Searching File, EBSCO host, viewed on March 6, 2017.
Kaschner, H., & Jordan, T. 2015, ‘Resilience and legislation: Will IT security legislation boost critical infrastructure resilience in Germany?’, Journal of Business Continuity & Emergency Planning, 9, 2, p. 164, Publisher Provided Full Text Searching File, EBSCO host, viewed on March 6, 2017.
Paul, H., Bamel, U., & Garg, P. 2016, ‘Employee Resilience and OCB: Mediating Effects of Organizational Commitment’, Vikalpa: The Journal for Decision Makers, 41, 4, pp. 308-324, Business Source Complete, EBSCO host, viewed on March 6, 2017.
Sharma, P., & Bhargava, I. 2016, ‘An Empirical Study On Relationship of Supervision, Innovation & Change and Customer Service (Organizational Climate) With Resilience’, Clear International Journal of Research in Commerce & Management, 7, 8, pp. 9-13, Business Source Complete, EBSCO host, viewed on March 6, 2017.