Resilient organizations turning challenges into opportunities

Purpose – The purpose of this paper is to argue that what divides winning and losing firms is their capacity for resilience – especially when facing economic challenges and reveals how to build organizational resilience. Design/methodology/approach – This paper explains that successful organizations use the need for substantial change to drive reforms that position them well to meet existing and future challenges. Findings – The positive potential of change and the importance of good communications in bringing it about have been explored. The need to invest in measures to increase the organization’s resilience even when the economic climate is unfavorable has been underlined. Practical implications – This paper advances the view that organizations should seek to invest in areas that reposition them in their new business and market environment while creating a separate disruptive business to develop the innovations that can become the source of future growth. Social implications – Some of the major economic and social changes to which successful organizations must react have been examined. Originality/value – This paper reveals how, by changing challenges to opportunities, organizations can prepare themselves for a successful future.