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Read Why Business Continuity Should Be At The Forefront Of Your Board's Corporate Planning To Maximise Your Reputation In The 21st Century.
Experienced directors are finally realising the advantages of designing a business continuity management system as a way of improving their competitive advantage and assuring stakeholders of their ability to deliver. With business calamities routinely appearing in the news, isn't it time that your business joined them?
Business Continuity has emerged in the past 6 years as an essential part of best practice management for not-for-profit and private sector organizations of all shapes and sizes.
More and more we are observing significant, established organizations go out of business because they have failed to anticipate and prepare for wide-ranging disruption and disaster. So what can business owners and directors do to ensure their firm survives in these difficult market conditions?
Thankfully there are both business continuity systems and professionals available to help business managers safeguard their organization from the uncertain mix of hazards and threats they face; but where do you start?
Most organizations find that it's best to decide as a board that business continuity is essential to your organization and then put some cash behind that decision.
With funding set aside, you should finalise an achievable schedule for improving your organization's resilience to interruptions and communicate the scope of products and services that the business continuity programme will cover to help focus the team that you appoint to create your business continuity policies, strategies and plans.
If you don't have business continuity expertise within your current staff, you would be advised to look to the marketplace for suitable providers who've demonstrated competence in the development and delivery of business continuity management services for companies of your size.
With your team in place, you'll need to get started by identifying your most important products and services; the things that account for most of your revenue or have the most impact if they are delivered or not). Most organizations find that around 20% of services produce 80% of the benefits that accrue to the organization and those they serve so it's sensible to begin with these initially.
Once these most important products and services are captured the team needs to look at the structures, systems and processes that come together to deliver them; including the supply of raw materials, utilities, staff, data and operational sites.
With the business processes mapped out for each important product or service, you should identify vulnerabilities within those processes and clarify how they would affect the quality of supply if they arose.
Once you figure out where your business is vulnerable you can design draft strategies and plans to reduce the probability of those disruptions arising or their impact: for example if a product depends on availability of electrical power, you might install fallback supplies from batteries or portable generators.
The nature and range of the strategies and plans you agree will be determined by the importance of the product or service and your potential losses you may need to develop emergency response plans first to reduce the scale of the disruption whilst you work on establishing the degree of resilience needed to forestall disruptions.
Sometimes you can considerably reduce the possible harm to your organization's outputs by taking time to consider the "what-ifs" so it makes evident sense to do so; whether you are driven by legislation, commercial forces or simple common-sense.
Take action today, before life's vagaries make you wish you had not procrastinated about putting a fit-for-purpose business continuity management organisation in place.
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