Why Business Continuity Should Be At The Start Of Your Board's Business Plans To Maximise Performance During This Global Recession.
Sensible directors are increasingly realising the advantages of creating a business continuity management system as a means of improving their commercial advantage and assuring stakeholders of their ability to deliver. With business interruptions routinely appearing in the news, isn't it high time that your organization joined them?
Business Continuity has emerged in the previous 6 years as a vital element of best practice management for not-for-profit and commercial firms of all shapes and sizes.
More and more we are seeing big, established institutions go to the wall because they have failed to foresee and prepare for wide-ranging disruption and damage. So what can business owners and directors do to ensure their firm survives in these testing market conditions?
Happily there are both business continuity processes and providers available to help business managers safeguard their organization from the broad range of hazards and threats they face; but where do you start?
The first step is to agree as a board that business continuity is vital to your organization and then put some resources behind that decision.
With resources set aside, you should finalise a timescale 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 clarify the work expected from 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 seek out suitable providers who've demonstrated competence in the design and implementation of business continuity management services for businesses of your size.
With your team in place, you'll need to begin by determining your most important products and services; the things that account for most of your revenue or have the largest 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 get to grips with these initially.
Once these critical products and services are captured the team needs to look at the structures, systems and processes that combine to deliver them; including the supply of raw materials, utilities, staff, data and premises.
With the business processes documented for each critical product or service, you should look for weaknesses within those processes and clarify how they would affect the quality of supply if they arose.
Once you know for sure where your business is vulnerable you can design appropriate strategies and plans to cut-down the risk of those disruptions occurring or their impact: for example if a product depends on availability of electrical power, you might install fallback supplies from batteries or diesel generators.
The nature and range of the strategies and plans you make will be led by the perceived importance of the product or service and your budget you might choose to develop emergency response plans first to mitigate against the disruption whilst you work on establishing the degree of resilience that you require to rule out foreseeable disruptions.
Often you can significantly reduce the possible disruption to your organization's outputs by taking time to consider the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, market forces or straightforward common-sense.
Go to it today, before circumstances make you wish you had not procrastinated about putting a fit-for-purpose business continuity management system in place.
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