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Why Business Continuity Ought To Be At The Front Of Your Board's Business Plans To Maximise Survivability In Today's Economy.
Experienced directors are increasingly seeing the value of developing a business continuity management system as a means of enhancing their commercial advantage and reassuring stakeholders of their ability to deliver. With business disruptions routinely featuring in the business bulletins, isn't it time that your organization joined them?
Business Continuity has emerged in the past 6 years as a vital constituent of best practice management for not-for-profit and blue-chip institutions of all shapes and sizes.
Progressively we are finding big, established companies go to the wall because they have failed to predict and make plans for wide-ranging disruption and damage. So what can business owners and directors do to make certain their firm won't come undone in these harsh market conditions?
Happily there are both business continuity systems and providers available to help business directors safeguard their organization from the many and varied hazards and threats they face; but how do you take the first step?
It's probably best first of all to agree as a board that business continuity is essential to your organization and then put some resources behind that decision.
With a budget committed, you should finalise a timescale for developing your organization's resilience to disturbances and agree the range 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 probably ought to search the internet suitable providers that are proven in the creation and implementation of business continuity management services for companies of your size.
With your team in place, you'll need to begin by clarifying your most important products and services; the things that account for most of your revenue or have the greatest impact if they are or aren't delivered). Most organizations find that some 20% of products produce 80% of the benefits that accrue to the organization and their customers so it's sensible to begin with these initially.
Once these critical products and services are noted the team needs to look at the structures, systems and processes that combine to deliver them; including the delivery of raw materials, utilities, key staff, data and buildings.
With the business processes documented for each important product or service, you should look for weak links within those processes and clarify how they would affect the quality of supply if they arose.
Once you understand where your business is at risk you can build pragmatic strategies and plans to cut-down the probability of those disruptions occurring or their impact: for example if a function depends on availability of electrical power, you might install fallback supplies from batteries or diesel generators.
The type and scope of the strategies and plans you establish will be led by the importance of the product or service and your budget you may have to develop emergency response plans first to mitigate against the hazard whilst you work on building the degree of resilience that you require to forestall disruptions.
Often you can markedly reduce the possible damage to your organization's key products and services by examining the "what-ifs" so it makes a great deal of sense to do so; whether you are driven by legislation, market forces or simple common-sense.
Go to it today, before damaging events make you wish you had not procrastinated about putting a fit-for-purpose business continuity management system in place.
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