Experienced directors are finally realising the benefits of creating a business continuity management system as a way of improving their competitive advantage and reassuring shareholders of their ability to meet contractual obligations. With business failures routinely appearing in the media, isn't it high time that your business joined them?
Business Continuity has emerged in the past 6 years as an essential element of good management for charitable and profit-making organizations of all shapes and sizes.
Increasingly we are seeing large, established organizations go bankrupt because they have failed to foresee and plan for large-scale disruption and disaster. So what can business owners and directors do to ensure their firm will survive in these testing market conditions?
The good news is that there are both business continuity systems and advisors available to help business executives defend their enterprise from the gamut of hazards and threats they face; but where do you begin?
The first step is to decide as a board that business continuity is essential to your organization and then put some funding behind that decision.
With resources agreed, you should finalise an achievable schedule for improving your organization's resilience to disruptions and determine the scope of products and services that the business continuity programme will cover to help focus the team that you establish to build your business continuity policies, strategies and plans.
If you haven't got business continuity expertise within your current staff, you would be advised to look to the marketplace for suitable providers with a proven track record in the design and delivery 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 vital products and services; the things that create most of your revenue or have the biggest impact if they are delivered or not). Most organizations find that about 20% of activities 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 documented the team needs to look at the people, facilities and processes that come together to deliver them; including the supply of raw materials, utilities, people, data and premises.
With the business processes mapped out for each important product or service, you should identify weaknesses within those processes and work out how they would affect the quality of supply if they arose.
Once you realise where your business is vulnerable you can create appropriate strategies and plans to reduce the probability of those disruptions arising or their impact: for example if a process depends on availability of electrical power, you might install back up supplies from DC batteries or portable generators.
The nature and extent of the strategies and plans you make will be determined by the importance of the product or service and your potential losses you might choose to create emergency response plans first to reduce the scale of the disruption whilst you work on developing the degree of resilience needed to forestall disruptions.
Sometimes you can significantly minimise the probable loss to your organization's outputs by spending a few days thinking through the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, competitive forces or simple common-sense.
Make a start today, before circumstances make you wish you had not sat on the fence about putting a proper and effective business continuity management organisation in place.
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