Business value can be a nebulous term, understood
differently between and even within companies.
Its definition depends on the target of the value.
According to Nobel-winning economist Milton
Friedman, shareholders were considered to be
the main recipients. Today, however, businesses
face pressure to create value for a wider range
of stakeholders—employees, customers, the
supply chain and the communities in which they
operate. This shift expands value beyond what
can be measured in purely monetary terms. The
growing importance of intangible resources, such as
intellectual property and digital assets, has further
transformed the concept of business value, pushing
it beyond the physical realm of property, machinery
and capital goods.

Companies work to protect what they see as
intrinsic to their continued operations. Therefore,
an essential element to a company’s value strategy
is a concurrent approach to resilience—the
proactive capacity to absorb stress, recover critical
functionality and thrive in altered circumstances.1
The disruption of normal working practices and
supply chains during both the covid-19 pandemic
and the energy crisis sparked by Russia’s invasion
of Ukraine have aptly demonstrated the need for
business resilience—and the necessity of preparing
for the most unexpected of scenarios.