Module Code: MGT302

Module Title: Business Continuity and Resilience

Student Name:

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Word Count: 2872 (+_10%)

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Table of Contents
ABSTRACT..............................................................................................................................................3

1.0 INTRODUCTION..........................................................................................................................4

1.1 Problem Statement............................................................................................................................5

1.2 Research Significance........................................................................................................................5

1.3 Important Contributions....................................................................................................................6

1.4 Research Questions...........................................................................................................................6

2.0 LITERATURE REVIEW........................................................................................................................6

2.1 System Process..................................................................................................................................7

2.2 Culture...............................................................................................................................................7

2.3 Human Capital...................................................................................................................................8

2.4 Strategies...........................................................................................................................................8

2.5 Business Continuity and Resilience....................................................................................................8

2.6 Leadership Styles for Business Resilience and Continuity..................................................................9

2.7 Organisational Resilience.................................................................................................................10

2.8 Opportunities and Challenges..........................................................................................................10

3.0 CONCLUSION.................................................................................................................................11

4.0 RECOMMENDATION.......................................................................................................................12

REFERENCES.........................................................................................................................................13

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ABSTRACT
Organisational resilience and continuity refer to a business' capacity to continue
operating and adjust to changes and disruptions; this is especially crucial in the complex
business climate of today when businesses must contend with obstacles and
possibilities that may affect their capacity to endure and grow. Thus, it is necessary to
analyse the significance of the organisational structure, human resources, technology,
and decision-making to ascertain the strategies that encourage company resilience and
continuity.

However, it is necessary to assess the following factors to achieve this goal. The
company is more likely to succeed if its management and stakeholders can conduct a
thorough critical analysis and investigate any issue related to organisational continuity
and resilience. To accomplish this, they must thoroughly understand risk management
strategies, the multiple disruptions and their effects, and the difficulties presented by the
modern corporate environment. As a result, the organisation is better prepared to
handle unforeseen events.

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1.0 INTRODUCTION
NextGen Consultancy, a major consultancy firm based in Malaysia, has achieved
organisational continuity and resilience through several means. The organisation has,
first and foremost, implemented efficient system procedures that adapt to shifting
market situations, customer requirements, and technology advancements. TheNextGen
Consultancy has kept ahead of the competition by standardising key business
processes, including data management, risk management, and customer service.

Furthermore, the organisation places a premium on its people and offers its workers
enough training and career advancement opportunities. Thus, their contributions have
enabled the organisation to achieve its long-term goals. NextGen Consultancy has
developed a company culture that values innovation, learning, and teamwork.
Nonetheless, TheNextGen has gained a strong reputation because they are
knowledgeable, capable, courteous, and always ready to assist (TheNextGen Group,
2022). A significant strength of the company is its employees' knowledge, skill, and
integrity, capable of meeting the needs of the company's clients. Consequently, the
organisation is committed to success.

Therefore, this report's purpose is to conduct an in-depth analysis and evaluation of the
elements that contribute to the continuity and resilience of an organisation in a business
setting. To demonstrate this, the report uses a case study that examines NextGen
Consultancy, a business located in Malaysia and founded in 2010. The report
introduces the concept of organisational continuity and resilience and lays out the
research parameters.

However, to adapt to the constantly shifting business environments, NextGen

Consultancy must overcome obstacles (Guimaraes et al., 2022). The business requires
support to maintain organisational continuity and resilience in the face of these
changing conditions. Therefore, NextGen Consultancy must determine the essential
organisational continuity and resilience criteria to keep the company's long-term
success. This report is significant to NextGen Consultancy because it analyses the
factors that must be present to guarantee organisational continuity and resilience. In
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addition, the report offers recommendations for the operational procedures that should
take place to ensure the organisation's continued prosperity. In addition, this report will
be valuable for other businesses contending with comparable difficulties in adjusting to
shifting business contexts.

1.1 Problem Statement

TheNextGen Consultancy in Malaysia has both threats and possibilities to its company
operations from the current economic climate (Unay-Gailhard and Brennen, 2022). The
business climate is constantly evolving, which presents a difficulty. NextGen
Consultancy may require some lead time to foresee effectively and rapidly react to
shifting technical landscapes, business dynamics, and client requirements. Thus, the
organisation's longevity and stability may be at risk.

NextGen Consultancy faces challenges, not the least of which is the ever-increasing
complexity of the business world. As a result of the wide range of consumers,
employees, shareholders, and regulatory authorities that interact with a business, it can
take time to align the company's goals and priorities with those of the stakeholders.
There is a risk that the organisation will be unable to maintain its continuity and
resilience due to this complexity (de Oliveira and Werther, 2013).

TheNextGen Consultancy may improve its continuity and resilience in the face of
interruptions by anticipating and preparing for them in advance. The business could, for
instance, spread its risk by spreading its investments among multiple suppliers and
distribution channels. To further ensure that TheNextGen Consultancy is always ready
to respond to unanticipated incidents, it can create and routinely test emergency plans
(Jackson et al., 2022).

1.2 Research Significance

Most Malaysians are sinking deeper into debt and unemployment due to the country's
high inflation rate and the global Covid-19 pandemic (Pillai, 2022). Therefore, the
present economic crisis has effects on every Malaysian. However, this phenomenon
correlates with the number of Malaysians seeking better opportunities abroad. As a
result, this report is an important wake-up call for business leaders and policymakers in
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Malaysia. It shows that this problem will last for years and must be dealt with in the right
way if Malaysians are ever to be able to support themselves economically.

1.3 Important Contributions

By implementing financial planning solutions, TheNextGen can help the next generation
of Malaysians avoid economic difficulties (Bakar and Bakar, 2020). A financial planning
process can enable Malaysians to reach their life goals by carefully managing their
income, investments, and expenses. By building up their savings, improving their
standard of living, finding a sense of peace, and fortifying their economy, Malaysians
can withstand economic shocks like the Covid-19 crisis. As Malaysia's most sought-
after financial services provider, TheNextGen company will raise Malaysia's economic
profile through careful financial planning. Simply put, TheNextGen firm can achieve its
primary goals using the appropriate strategies.

1.4 Research Questions

The primary research questions addressed in this report are:

 What are the essential elements required for organisational resilience and
continuity?
 What tactics can NextGen Consultancy use to maintain the organisation's
resilience and continuity?
 What barriers and prospects will NextGen Consultancy encounter during the
process?

2.0 LITERATURE REVIEW

This report reviews and analyses scholarly literature on organisational resilience and
continuity. The essential facets of organisational continuity and resilience, such as
system processes, culture, and human capital, will be examined in this report.
Furthermore, it will discuss the methods businesses have found to be adequate to
guarantee the continuity and resilience of their organisations, leadership and the
opportunities and potential challenges likely to be encountered in the process.

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2.1 System Process

The implementation of efficient system processes is necessary for the maintenance of

organisational continuity and resilience. As Lee and Shin (2018) discuss in their
research study, system processes are essential in producing effective corporate activity
progression. They assert that developing a successful business model and selecting
appropriate investment strategies requires following specific system procedures, which
are an essential part of the process. For instance, they suggest that businesses
operating in the financial technology sector should emphasise the development of
infrastructures for effective data administration, streamlined risk management, and
superior customer service (Lee and Shin, 2018). It is necessary to carry out these
activities to ensure that the ecosystem is effectively managed and can adjust to
changes in the market. They also stress the importance of considering the customer
when designing these processes, as their input is crucial to forming sound judgements
and creating profitable business strategies.

2.2 Culture

The culture within an organisation is another crucial factor contributing to its long-term
viability and resilience. However, Patronage, Jayatilake, and Abeysekera's (2020)
research examine organisational culture's impact on the performance of businesses.
They contend that an organisation's culture is one of the essential factors in determining
its success because it affects the workforce's behaviour, morale, and engagement.
Building a culture of mutual regard and cooperation among employees benefits any
business because it can boost output, creativity, and patron satisfaction. In addition,
they mention that a robust organisational culture can assist in the development of a
sense of belonging among workers, which can lead to increased levels of loyalty and
commitment. Furthermore, they highlight that culture affects organisations' response to
external challenges, as a robust culture can provide stability and continuity even when
times are turbulent. As a result, they concluded that maintaining a healthy
organisational culture is critical to achieving desired levels of corporate performance.

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2.3 Human Capital

The research conducted by Fonseca et al. (2019) highlights the significance of human

capital in innovation. They argue that human capital is essential to any successful
organisation because it is necessary to foster innovation and gain an advantage over
other businesses. Organisations should concentrate on developing the best
organisational task structure possible so that employees can collaborate and work
effectively with one another. As such, they advocate for organising work in the most
efficient way possible so everyone involved can contribute to and benefit from projects
and operations. In addition, they argue that organisations should prioritise providing
necessary resources to workers, such as opportunities for professional development
and training, so that workers can realise their full potential and make meaningful
contributions to the organisation. In addition, they suggest that businesses should also
pay close attention to the organisation’s culture, as this can significantly influence the
levels of motivation and productivity of employees (Fonseca et al., 2019).

2.4 Strategies

Many options are available to businesses today for dealing with issues, each of which
may help the company's long-term development into a stable and reliable entity. Herbie
(2019) argues that to preserve organisational cohesion and resilience; businesses must
employ change management, risk management, and strategic planning procedures. In
addition, companies can use various communication strategies to guarantee that their
workers remain fully informed and actively participate in the process (Herbane, 2019).
Thus, this can be accomplished by regularly updating them on developments.

2.5 Business Continuity and Resilience

Recent years have seen high volatility in the global economy and financial markets,
which may continue. Since the global covid-19 epidemic began, most businesses have
been working to return to normal, and the vast majority continue to do so (Margherita,
2021). In light of the current global crisis, organisations must be resilient and continue
operations as usual. Increasingly more CEOs are thinking about what they can do to
protect their firm from external threats. The true challenge, however, is figuring out how

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to ensure that executives at all levels of an organisation have robust procedures in
place to deal with unforeseen events.

Business success cannot be guaranteed overnight; this can only occur by setting
management policies. Nonetheless, additional work is needed. Every business today
must recognise the dangers inherent in the global economy. Most importantly, people
must realise that difficulties are a natural part of running a business. An inherent risk is
involved whenever a business decision or activity occurs. If there is a potential
disruption to corporate operations, the chief executive and financial officers need to be
on heightened alert and prepared to take prompt action; this will enable them to
overcome obstacles and continue working toward their goals. Because of this, these
shifts are vital because they push businesses to develop innovative, sustainable
strategies that may help them reach their full potential despite challenges.

2.6 Leadership Styles for Business Resilience and Continuity

The necessity to ensure business continuity is something that all successful firms keep
in mind while making plans for the future. According to Niemimaa et al. (2021), leaders
are essential to an organisation's success because they create a framework that allows
the company to keep delivering for its employees even as the firm and its workers
change. Thus, an organisation's communication and leadership styles significantly affect
the organisation's ecosystem.

One way to evaluate a leader's performance is to observe how they behave in times of
crisis, such as when unforeseen occurrences produce chaos at work. Inquiries into what
makes for good leadership have been ongoing for centuries. Adaptability is a crucial
component of an effective leader's approach. Leadership success is therefore
measured by how well a leader responds to a specific challenge (Saputra, 2019).
TheNextGen top brass maintains a more progressive standard of openness during the
company's transformation by encouraging employee participation and encouraging
a free flow of information.

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2.7 Organisational Resilience

A resilient organisation can foresee potential threats from its external environment and
devise responses to those threats before they have an impact on the company's
operations. According to Koronis and Ponis (2018), organisational resilience can occur
in four crucial processes: first, the ability to anticipate and adapt to changes in the
business environment ensues during the planning phase. Secondly, the tendency to
respond after problems have manifested within the organisation, where they are then
reviewed and appropriate solutions implemented. Thirdly, a corporation needs to be
adaptable to succeed after implementing key business strategies. Finally,
transformational learning arises when the company encounters new events presenting
new business lessons.

TheNextGen faces difficulties in its current market and environment, as highlighted in

this case study. Concurrently, they have set the year 2032 as the deadline for launching
a new Group Agency Management franchise (TheNextGen, 2022). To achieve this goal,
they need to identify a competent corporate leader who will serve as the project's
supervisor. They call for a pioneering new producer to set the standard for
development; a dedicated staff to deliver on customer needs; new ways of advertising a
product or service developed via education and research; and radical innovations in the
field. Nonetheless, competition is at the heart of the issue and could play a part in some
of the other challenges facing TheNextGen. Therefore, Malaysian businesses need
concrete plans to help them gain a competitive edge and continue to thrive.

2.8 Opportunities and Challenges

Weichselgartner and Kelman (2015) examine both the benefits and the drawbacks of
having a resilient business in their published article. A company's long-term viability
depends on its steadiness and flexibility in the face of change. In particular, they
advocate for companies to develop strategies to maintain their competitive edge, adapt
to shifting conditions in the market, and accommodate innovative technological
developments. They also suggest that businesses should make an effort to cultivate a
culture that encourages originality, education, and collaboration among employees. In

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addition, they argue that companies have a responsibility to pay close attention to the
broader world around them because this world contains both opportunities and risks.
For instance, companies need to be aware of possible risks and actively work to
eliminate them through a variety of preventative measures. Companies need to look for
opportunities that may come their way and be prepared to make the most of them when
they materialise (Weichselgartner and Kelman, 2015). In general, businesses should
strive to develop a structure that is not only long-lasting but also flexible so that it can
adjust to the various conditions that may arise.

3.0 CONCLUSION
NextGen Consultancy's strategies have successfully ensured organisational continuity
and resilience due to their implementation (Horgan et al., 2022).

Establishing efficient system processes has allowed the business to adapt to shifting
market conditions and client preferences. Thus, streamlining data and risk management
processes has facilitated maintaining the business’s competitive edge.

Investment in human capital - the accomplishment of the business is also, to a

considerable extent, attributable to the company's decision to invest in its personnel.
Employees can acquire the expertise required to contribute to the organisation's
strategy and goals through training and development opportunities. As a result, the
organisation can boast a highly competent and enthusiastic team (Ivey, 2019).

Establishing an organisational culture has allowed TheNextGen Consultancy to

preserve its adaptability and agility, allowing it to seize new opportunities as they arise
(Jaskiewicz and Rau, 2021). Thus, this has allowed the company to maintain its status
as Malaysia's outstanding consultancy service. Addressing this issue has been crucial.

Corporate culture, human resources, and system procedures: Clearly, ensuring the
longevity and adaptability of an organisation is a difficult task that requires a
comprehensive approach.  The success of NextGen Consultancy is due to cultivating a
positive work environment, nurturing its people resources, and streamlining its
operational processes. The company has considered all of these factors, so it can keep

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its competitive edge and respond quickly to changes in the market. With this in place,
the company has succeeded over the long run while maintaining its resiliency.

Finally, organisational resilience and continuity are problematic issues that any
successful enterprise must handle. Business continuity and resilience require a well-
defined corporate strategy and structure, sufficient financial resources, and a strong
culture of resilience, all emphasised in the case study of TheNextGen Consultancy in
Malaysia. Organisational resilience and continuity depend on the ability to recognise
and respond to potential threats and implement preventative measures to lessen the
impact of disruptions. Any company looking to succeed must prioritise implementing
and managing such strategies.

4.0 RECOMMENDATION
TheNextGen Consultancy has taken several precautions to ensure the organisation's
robustness and continuous operation. The company needs to create the most efficient
framework for completing its tasks. Thus, this will enable people to work together
productively and cooperatively. As a result, NextGen Consultancy will be able to
maximise its human resources and ensure that its employees reach their maximum
potential in their respective professions. The company should create system processes
that enable quick responses to market changes; this involves the management of both
data and risk and the procedures necessary to support customers.

Finally, the external environment is essential for NextGen Consultancy to monitor

closely because it offers opportunities and challenges. While attempting to minimise
potential risks, the organisation should use every available resource to maximise
prospective opportunities. The company should also avoid engaging in actions that can
harm its operations, like investing excessively in high-risk companies.

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