The current situation has had inconsistent cascading effects on nearly every industry. While some businesses have shut down completely, others are trying to keep up with rapidly changing demands, and those left somewhere in the middle are attempting major adjustments to operations to adapt to uncertain and shifting environments.

Organizations with robust systems in place have a better chance of weathering the storm, and those that are intelligent enterprises are not only more resilient but able to come out of this crisis seizing opportunities that others either could not see or could not execute on.

Resilient leaders make the right decisions quickly, and adapt

Streamlined leadership is crucial during this turbulent time. Business leaders need to ensure that decision makers have the right data, at the right time, to quickly identify shifting priorities and tackle business continuity risks across value chains, such as supply chain disruptions, inconsistent customer demand, employee productivity challenges, and systems resilience.

Systems resilience is based on a system’s ability to operate during a major disruption or crisis with minimal impact on critical business processes and operations. This means preventing, mitigating, or recovering from technology issues within system architecture, networks, software applications, data, cloud connections, and infrastructure. That’s why CIOs and IT leaders play a key role in ensuring businesses can continue to operate during a crisis.

Resilience of business systems and processes

As the impact of the pandemic intensifies, business systems are tested more than ever before. Regardless of what industry – travel, retail, healthcare, manufacturing, technology, or any of the other global industries – all sectors have been impacted in some way, and all businesses must adapt. This means adapting to the current challenges, which could last weeks or months, as well as adjusting to what comes next: a period of recovery that could last months, or even years.

You need to ensure that your systems are resilient enough to maintain your business in this unpredictable environment and support the reinvention of your organization as we move beyond the current crisis.

It is as important as ever to have insight, agility, and control over your operations in order to understand what changes are necessary and make the right decisions on how to apply resources, and how to take action to get the best possible outcomes during challenging times. To help you do this, key technology solutions can be used tactically to help keep supply chains and products moving, control spending, and help your business navigate a path toward recovery.

Emerging stronger

There are lessons to be learned and applied in the current disruption to emerge stronger. How well you navigate this crisis will determine how resilient your organization is when we move beyond the pandemic and define the next normal.

Lay a strong, yet agile, foundation for your organization with the insight and practical strategies shared on this exclusive LinkedIn Live event. Tune in to the SAP Technology LinkedIn channel at 11:00 a.m. EDT / 8:00 a.m. PDT on Wednesday, June 3, to hear David Robinson, senior vice president of Customer Success at SAP, chats with Nathaniel Crook, vice president of Global and Strategic Accounts at Microsoft, and Emma McGuigan, senior  managing director at Accenture Technology.

The post Resilience And Reinvention first appeared on Tekrati and is written by Rob Sterling

A lot of these products, services, and platforms did not exist or were only available to a select audience before the pandemic. Many were considered too innovative or “nice to have” but not necessary. But think about all of the elderly people staying connected to their loved ones through video platforms, the average families using delivery apps for groceries, or the companies hosting large conferences in virtual setups – the list goes on and on. In most cases, there was no (or little) need for those tools before, so they were scarcely used. And yet organizations still invested in and brought them to market. Looking at the demand now, we can see some organizations were a step ahead of the others. What’s their secret to knowing what will be needed in the future? The answer: their drive for innovation.

Innovation: what does it mean?

How many times have you heard or seen the word “innovation” just today? Well, at least four times in this article so far. And beyond? Yes, it’s everywhere, but it is still an abstract idea for many people – just a buzzword. Let’s dig deeper into what innovation is. Here is how several online sources (linked in the References below) define it:

• Innovation is the process of doing things differently and discovering new ways of doing things.

• Innovation is adapting to change to better meet demands of products or services.

• Innovation is improving business processes and models, developing new products or services, adding value to existing products, services, or markets.

• Innovation’s aim is to provide something original or unique that can have an impact on society.

Understanding and living innovation, especially in times of change

One point that is missing from this list: Innovation spares no one. It is essential for individuals and organizations, for the CEO of a company just as much as the entrepreneur who is just getting started. That said, you do not need to aim be the next Amazon or Airbnb. Small changes can help you foster an innovation mindset to proactively respond to potential disruptions.

Imagine the current pandemic a decade ago: no virtual office meetings, no video calls with family and friends, no 24/7 food delivery to your doorstep. Think about the economic and emotional impact it would have had. By all means, the economic impact today is enormous, but imagine how much worse it could have been in the past. Companies would have stopped operating with no alternatives; there would no e-commerce, no IT infrastructure, and no availability. If there wasn’t an innovative mindset and driven teams that created these products, services, and platforms, we would be in an even less fortunate scenario now.

Write (innovation) history!

“It is only the farmer who faithfully plants seeds in the Spring, who reaps a harvest in the Autumn.”
— B.C. Forbes

At this moment, we are writing history. We are living through the most disruptive period we have ever seen, a time when innovations are needed more than ever. We need to think one step ahead and take this opportunity to reinvent ourselves. We also need to make this an ongoing practice – all of us, from small and midsize businesses to big corporations. Whether you are producing something like face masks and need to rethink your supply chain management due to high demand, or you’re an events company that needs to go fully virtual in a single day, this applies to you.

I strongly believe that we will rise from this crisis with a new appreciation for innovation and change. Innovation should be a mandatory component of your daily experience and strategy instead of being regarded as a luxury – especially now.

References

For more on thriving through today’s disruption and certainty, see the “Navigating Disruption Today, Planning for Tomorrow” series.

The post Innovation: It’s More Than Just A Nice-To-Have first appeared on Tekrati and is written by Rob Sterling