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Resilience and reliability are two different concepts. Resilience, as defined by the Random House Dictionary of the English Language, refers to the ability to return to the original state after being stretched, compressed, or bent. Moreover, resilience involves recovering from adversity, illness, depression, or other similar situations.
Recovery & Resilience: Economic development planning or implementation projects that build economic resilience to and long-term recovery from economic shocks, like those experienced by coal and power plant communities, or other communities impacted by the decline of an important industry or a natural disaster, that may benefit from economic ...
For example, Tesla's supply chain can be described as resilient because it reflects the transformation from internal combustion engines to electric engines, which is based on the ability of human actors to foresee long-term changes in the planet in the context of the climate crisis and to implement them in a business model. In contrast to ...
Business continuity planning life cycle. Business continuity may be defined as "the capability of an organization to continue the delivery of products or services at pre-defined acceptable levels following a disruptive incident", [1] and business continuity planning [2] [3] (or business continuity and resiliency planning) is the process of creating systems of prevention and recovery to deal ...
Without such security, people may experience its opposite: economic insecurity and resulting economic anxiety. Financial security more often refers to individual and family money management and savings. [1] [2] Economic security tends to include the broader effect of a society's production levels and monetary support for non-working citizens.
Supply chain resilience has been identified as an important business issue. The United Kingdom's Confederation of British Industry reported in 2014 that a significant number of businesses had reshored parts of their supply chain to European locations, with many identifying supply chain resilience as "a key factor in their decision to do so". [46]
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Climate resilience is a concept to describe how well people or ecosystems are prepared to bounce back from certain climate hazard events. The formal definition of the term is the "capacity of social, economic and ecosystems to cope with a hazardous event or trend or disturbance".