Coping with Turbulence: The Resilience Imperative
Innovations: Technology, Governance, Globalization, special edition for the World Economic Forum Annual Meeting 2009. Cambridge, MA: MIT Press, pp. 203-218
20 Pages Posted: 16 Feb 2014
Date Written: January 25, 2009
Change in the 21st century is rapid-fire and turbulent. As globalization, technological complexity, and interdependence have created new opportunities, they have also created new uncertainties. In this environment, resilience is emerging as a new and increasingly critical priority for companies and countries alike. Yet few people understand why resilience is critical — or even what it is.
For countries, a strategic focus on resilience is as important to quality of life as it is to safety. It means not only ensuring the reliable provision of basic services but also reducing the variations in economic opportunity that come with major societal disruptions. A resilient society can cope with a variety of disruptions to critical systems — physical, virtual, health and economic — and its response will be agile, rapid, and resourceful, regardless of the cause of disruption.
Keywords: resilience, sustainability, growth, risk
JEL Classification: G30, Q54, Q55, Q58
Suggested Citation: Suggested Citation