Globally, organisations lack resilience practices

A report released by The Economist Intelligence Unit (EIU) on behalf of BSI identifies a worrying gap in the capability of firms to maintain long-term growth. The study of business leaders reveals that just one third (29 per cent) trust that their firms have fully embedded resilience practices, and less than half (44 per cent) expect it to be the case in three years' time. This is despite 88 per cent believing that resilience is a priority for their organisations, and indispensable for long-term growth (80 per cent). The study, 'Organisational resilience: Building an enduring enterprise', finds that achieving the resilience to survive and prosper in the long-term is held back by a lack of skills and knowledge, insufficient leadership commitment and short-term financial considerations. It also highlights that cultural resistance and skills silos create weak-points and bottlenecks within an organisation. Two fifths (39 per cent) of business leaders struggle to secure business support for essential resilience measures such as information security, supply chain efficiency and corporate governance. Worldwide, a third (33 per cent) of larger organisations have resilient processes embedded across their business.