Disaster Recovery Journal Winter 2024

Is Business Resilience Over-Hyped or a Necessary Evolution? By MAITREYA BUDDHA SAMANTARAY I n recent years, “business resilience” has become a popular term in organi zational strategy, often touted as the ultimate solution for navigating dis ruption. Is this focus on resilience an evolution of risk management or an over-hyped concept with ambiguous practical value? As organizations experi ence what some call “resilience fatigue,” it’s worth questioning: Is resilience just a re-branded version of business continuity management (BCM), or does it signal a fundamental shift in how we ensure orga nizational stability? The debate is further

complicated by new regulatory pressures, particularly in the financial sector, pushing for enhanced resilience measures across various regions. This raises the question of whether resilience is merely a strategic attempt to revitalize BCM practices or a genuinely innovative framework demand ing a reassessment of standards like ISO 22301:2019. In this article, we will explore these questions, examining whether resil ience is an overused term, a fresh perspec tive on BCM, or a necessary response to evolving regulations. By revisiting estab lished standards and exploring recent developments, we aim to clarify what resilience truly means for modern orga nizations and how best to integrate it into effective business continuity strategies. Fragile and Anti-Fragile Business Stories Abound Corporate history is filled with resil ient business stories. Recently, Google

36 DISASTER RECOVERY JOURNAL | WINTER 2024