DECEMBER 2020CIOAPPLICATIONS.COM8his day and age, businesses face more significant risks in the way operations are carried out due to the ability to extend business relationships and networks throughout the globe. Business processes are far more dependent on outside parties and providers with this enhanced, widespread communication, unlike the industrial age. The operations can be interrupted rather quickly. For instance, if you have a call center remotely operated in Jakarta, if there is an earthquake, this could sever communications with this location and your ability to serve your customers. You might manufacture vehicles, and an essential component is unable to be shipped to the plant due to a flood in the supplier's location. Because of such risks, business owners and managers need to develop new perspectives and approaches concerning the development of disaster relief and recovery plans and business continuity in those contexts. Additionally, more business owners must arrive at the understanding that these processes should be directly informed by customer value and experience. The best practice that can be used to accomplish this is that of business resilience. Business resilience is known as the ability of any organization to anticipate, prepare for, respond to, and adapt to incremental change as well as sudden disruptions, to survive and prosper.The primary concerns of your business resilience plan should include: · Pandemics· Cyber-attacks· Weather· Economic cyclesStill, not many businesses have procedures in place to recover from these events. Below you will find an in-depth overview of how to manage your business resilience while holding the customer as a primary focal point.You Know Your BusinessTo determine your business's resilience and develop an effective response and recovery plan, you must first be How Resiliency Can Translate into Customer ValueTSONNY ALI, DIRECTOR, DIGITAL TRANSFORMATION, GHDIN MY Viewfamiliar with how your business presently functions. The first step to knowing this information is identifying your business's goals and KPIs.Now, you may have heard KPIs and "goals" used interchangeably this is quite misleading, as the two are quite different. The term "goal" represents the outcome toward which your firm is working. This is informed by your business's vision and mission but this doesn't mean that it has to be overly complex. Keep it simple!The KPIs, on the other hand, are metrics by which you can measure how well your company is performing in its efforts to reach the aforementioned goals. Note that these metrics should not be goals themselves, however! Each KPI should be:· Measurable· Specific· Achievable· RealisticKPIs that reach these standards are ideal in helping business owners know whether they are making informed decisions regarding business operations. They will also alert you to whether anything in your process needs to change. Recognize that not all metrics are KPIs, however. This is why "key" is the operative word here. (For instance, between the size of an email list and the conversion rate it results in, the conversion rate would be the KPI.)In addition to KPIs, there are also targets these are another type of metric you can use to monitor your business's progress toward the defined goal. Targets are virtually smaller goals milestones you can mark on your company's way toward the ultimate goal.Once you have these down, you must develop a goal-based approach to your efforts to model your business process. This process should involve:· Goal modeling· Activity modeling· Role modeling· Object modeling· Evaluation. This involves the simulation and prototyping of critical elements to the desired business processes. Secondly, this will be addressed by inspection of the models you have
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