Exceptional situations can affect us all - whether as a state, private individual or company. The last few months have pointed that out. Pandemics, traffic jams in the Suez Canal or the chip shortage. Such "shocks" have to be dealt with. Or even better: be prepared for them.
Let's be realistic: companies can hardly prepare for every eventuality. However, preventive measures can help to make companies more resilient. In addition, it would be helpful to create an environment in which companies can act as quickly as possible after such shocks instead of just reacting. For example, by digitizing processes, setting up crisis teams and equipping their employees.
Acting instead of reacting
"During the last months, Deutsche Telekom has shown: We can adapt. We are creative. We find solutions to problems quickly. We are indeed agile. And therefore resilient. Resilient under adverse conditions." sums up Tim Höttges, CEO of Deutsche Telekom. The company has done a lot to achieve this. We have already tackled issues in the past we considered as "thick boards".
So, what did we do right at Deutsche Telekom? For Claudia Nemat, Member of the Board of Management for Technology and Innovation, two technological and one cultural innovation were particularly important. This enabled us to act flexible during the Corona crisis. And thus to be more resilient:
- Digitization of our networks
- Stable IT
- Systematic retraining and further education of our employees
"Early and proactive investment in resilience leads to strength in times of crisis, which is essential for survival,” is how Claudia Nemat sums up her findings. And these investments should be made before a shock or even a crisis hits the company. "Because the business resilience of a company is just as important as its productivity and competitiveness. And ultimately forms the indispensable basis for long-term economic success," writes Hagen Rickmann, Managing Director Business Customers Telekom Germany, in the blog. The size of a company does not matter.
Need some inspiration? Best practices and what makes a resilient company can be found in our topic special www.telekom.com/smart-businesses.
The global economic crisis is accelerating existing trends. Yesterday's decisions are today's commandments.