Essay on The Resilient Firm Designs And Implements

Essay on The Resilient Firm Designs And Implements

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The resilient firm designs and implements give effective actions to advance the firm, thereby increasing the profitability of its own survival. Also, employees of the resilient firm share decision making power, which leads to timely and effective response.
Resilient employees dispense less effort in assimilating organizational change and therefore have greater potential to improve productivity and quality (Mallak, 2010). Organizational resilience comprises the abilities of a firm to withstand systematic discontinuities, and the capability to adapt to new technology and new environments has form different risk source (Starr and Delurev, 2003).
The different issues such as the size of a firm, economy branch, or supply chain positions, have not allowed the setting of a scientific consensus or constituent elements of organizational resilience.
According to Arsovski, Arsovski, and Mirovic (2009), markets demands offer introduce complexity and variable business conditions where the sources of risk need to be managed in the long term, in order to ensure sustainability and improve quality. A high competitive edge can be attained by applying an adequate business strategy which may be based on organizational resilience factors (Somers, 2009). The organizational resilience potential has to be continuously improved and its value may be analyzed through the appropriate resilience factors.
Indeed, customer’s expectation all over the world have significantly increased during the last decade, so firms have to be innovative and adapt to new challenges (Lee, 2012) by combining old and new models and organizational resilience enhancement. Moreover, studies explained that increased organizational resilience results in greater accountability at all le...

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...stments, and sacrificing decisions in everyday work; resilient safety management.
2.3.2 Ability to Monitor
This mean what to look for, or being able to monitor that which is or could seriously affect the system’s performance in the near term-positively or negatively. The monitoring should cover the system’s own performance as well as what happens in the environment. Risk monitoring is the process of keeping track of the identified risks, monitoring residual risks and identifying new risks, ensuring the execution of risks plans, and evaluating their effectiveness in reducing risk. Risk monitoring records risk metrics that are associated with implementing contingency plans. Risks monitoring is an unfolding process for the life of the project. The risks change as the project matures, new risks develop, or anticipated risks disappear. Good risk monitoring processes gives

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