Good Management Dictates That Business Continuity Has To Be At The Top Of Your Board's Corporate Planning To Maximise Profitability During This Global Recession.
Enlightened directors are finally realising the value of creating a business continuity management system as a means of improving their competitive advantage and reassuring customers of their ability to supply. With business calamities routinely appearing in the business bulletins, isn't it high time that your organization joined them?
Business Continuity has emerged in the past 6 years as an essential element of top-class management for public and private sector organizations of all shapes and sizes.
Progressively we are seeing big, established organizations go out of business because they have failed to foresee and practice for significant disruption and disaster. So what can business owners and directors do to ensure their firm won't come undone in these testing market conditions?
Happily there are both business continuity systems and professionals available to help business executives protect their company from the uncertain mix of hazards and threats they face; but where do you take the first step?
The first step is to agree as a board that business continuity is essential to your organization and then put some cash behind that decision.
With resources in place, you should determine an achievable schedule for improving your organization's resilience to interruptions and determine the range of products and services that the business continuity programme will cover to help focus the team that you appoint to build your business continuity policies, strategies and plans.
If you lack business continuity expertise in house, you would be advised to look to the marketplace for suitable providers who've demonstrated competence in the design and implementation of business continuity management services for companies of your size.
With your team in place, you'll need to get started by determining your most essential products and services; the things that bring most of your revenue or have the most impact if they are delivered or not). Most organizations find that around 20% of activities produce 80% of the benefits that accrue to the organization and their customers so it's sensible to begin with these initially.
Once these most important products and services are documented the team needs to look at the teams, equipment and processes that come together to deliver them; including the supply of raw materials, utilities, staff, data and premises.
With the business processes documented for each important product or service, you should identify weaknesses within those processes and figure out how they would affect the quality of supply if they occurred.
Once you figure out where your business is vulnerable you can design appropriate strategies and plans to cut-down the probability of those disruptions arising or their impact: for example if a process depends on availability of electrical power, you might install alternative supplies from another switchboard or portable generators.
The nature and range of the strategies and plans you make will be led by the importance of the product or service and your potential losses you might choose to establish incident response plans first to reduce the scale of the disruption whilst you work on establishing the degree of resilience that you require to forestall disruptions.
Sometimes you can significantly lessen the potential harm to your organization's outputs by examining the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, market forces or simple common-sense.
Take action today, before circumstances make you wish you had not delayed in making decisions about putting a suitable business continuity management organisation in place.
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