In today’s fast-paced and ever-changing business landscape, companies need to be resilient to thrive. Business resilience is the ability to adapt and thrive in the face of adversity, such as economic downturns, natural disasters, or unexpected market shifts. Companies that prioritize business resilience are better positioned to weather challenges and outperform their competitors.

According to a recent study by WGA Advisors, companies with business resilience framework in place outperformed their peers by an average of 31% in 2022. In 2023, this gap is expected to widen as market volatility and uncertainty continue to rise. To stay ahead of the curve, businesses need to prioritize business resilience.

WGA Advisors’ 3AE business resilience framework is a comprehensive approach that helps companies build and maintain resilience. The framework consists of four key steps: Aware, Adjust, Advance, and Evolve. Let’s take a closer look at each step.

WGA’s 3AE Business Resilience Framework: Aware, Adjust, Advance, and Evolve

Aware: The first step is to be aware of potential risks and threats. This includes identifying and assessing risks, evaluating the potential impact, and developing strategies to mitigate them. WGA Advisors helps companies identify and assess risks through a comprehensive risk assessment process.

Adjust: The second step is to adjust operations and processes to be more resilient. This includes developing contingency plans, implementing risk mitigation strategies, and ensuring that critical business functions can continue in the face of disruption. WGA Advisors helps companies develop and implement robust contingency plans to ensure that operations can continue even in the face of unexpected challenges.

Advance: The third step is to advance resilience by investing in technology, processes, and people. This includes leveraging data analytics, developing new products and services, and investing in employee training and development. WGA Advisors helps companies advance their resilience by leveraging technology and data analytics to identify and mitigate risks.

Evolve: The final step is to evolve resilience by continually assessing and adapting to new risks and challenges. This includes conducting regular risk assessments, evaluating the effectiveness of existing strategies, and developing new strategies as needed. WGA Advisors helps companies evolve their resilience by providing ongoing risk assessment and mitigation services.

WGA Advisors’ resilience framework has helped numerous companies outperform their competitors by building and maintaining resilience. For example, a Global Pharmaceutical manufacturer was able to maintain operations during a major natural disaster thanks to the robust contingency plans developed with WGA Advisors. Additionally, global Automotive manufacturer was able to quickly pivot to their supply chain during the COVID-19 pandemic, thanks to the advanced technology and processes implemented with WGA Advisors.

Business resilience is more critical than ever in today’s unpredictable business landscape. Companies that prioritize resilience are better positioned to outperform their competitors and thrive in the face of adversity. WGA Advisors’ 3AE business resilience framework provides a comprehensive approach to building and maintaining resilience and has helped numerous companies achieve success.

To learn more about WGA Advisors’ business resilience services, contact us today.