Companies are mostly created to operate for very long periods of time, hopefully spanning generations and changing owners. Most companies in the world operate for decades and some operate for centuries. For a company to survive so long it must be resilient to market and technology changes, competitors, and other factors.
Company resilience can be defined as following abilities:
1) Offer and maintain unique values or copy competitor values in order to maintain or improve market position,
2) Expand beyond a single product and a single market,
3) Constantly increase brand equity and awareness, which are capital compounding investments,
4) Continuously adopt latest technologies which increase efficiency and improve customer experience.
Above defined resilience requires constant test & learn agile approach, which is basically constant efficiency, content, and product innovation research. For example, which one of hundreds of marketing and sales technologies will best improve efficiency and customer experience. While test & learn is costly in the start, teams do get more efficient at it and lower the costs over time. However, the benefits of owning a team which implements test & learn is substantial.
Also, short term – operative and limited to one year – strategies do not guarantee company survival, growth, and resilience. Companies must dedicate at least few % of the cash and time resources to resilience. If cash and time are not dedicated the changes are delayed and companies can not catch up. Brand equity technologies, and team agile adoption require many years for building and can not be done quickly.
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