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The Power of ResilienceHow the Best Companies Manage the Unexpected$
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Yossi Sheffi

Print publication date: 2015

Print ISBN-13: 9780262029797

Published to MIT Press Scholarship Online: May 2016

DOI: 10.7551/mitpress/9780262029797.001.0001

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Why Resilience?

Why Resilience?

Chapter:
(p.347) 14 Why Resilience?
Source:
The Power of Resilience
Author(s):

Yossi Sheffi

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262029797.003.0014

This chapter takes a step back from specific risk management and response tactics to the problem bedeviling every risk, resilience, and business continuity manager. How can one justify investments in these initiatives when they seem like a waste of resources when nothing happens? The chapter argues that unlike insurance, which pays off only in a crisis, resilience drives everyday improvements in costs, operations, revenues, reputation, and agility. A company’s ability to confidently manage its risks implies that it can take strategic risks to create growth. That, in turn, implies that a resilient company can avoid the most insidious risk of all: the risk of stagnation and irrelevance in the dynamic global economy of the future.

Keywords:   Resilience, Prevention, Flexibility, Risk management, Investment, Growth

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