Building the Conceptual Enterprise Resilience Framework

Abstract

An analysis of the four knowledge areas of Strategy, Resilience, Complexity, and ERM has allowed us to better understand their relationship with each other. We know that changes in the business and operating environment influence strategic thinking and decision-making, making strategic planning essential. It is now time to turn our attention to how this knowledge and understanding might be employed to create a strategy that will be effective in times of uncertainty arising from complex environmental changes that can severely damage business continuity. The proposed Enterprise Resilience Framework can form the basis of this strategy.

The characteristics of strategic management are identified, with a look at the critical factors of strategic decision-making and those contributing to Complexity. The relationships between nine key strategic factors and resilience are established, and the processes of different ERM frameworks and risk factors are shown.