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Why Business Continuity Has To Be At The Top Of Your Board's Corporate Planning To Maximise Performance During This Global Recession.
Sensible directors are finally seeing the benefits of designing a business continuity management system as a means of improving their commercial advantage and reassuring stakeholders of their ability to deliver. With business calamities routinely dominating in the media, 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 private sector institutions of all shapes and sizes.
Increasingly we are observing big, established organizations go to the wall because they have failed to predict and prepare for wide-ranging disruption and disaster. So what can business owners and directors do to guarantee their firm will survive in these harsh market conditions?
Happily there are both business continuity systems and providers available to help business directors safeguard their organization from the uncertain mix of hazards and threats they face; but in what order do you begin?
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 set aside, you should agree an achievable schedule for upgrading your organization's resilience to disruptions 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 organization, you would be advised to search the internet suitable providers with a proven track record in the development 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 most impact if they are or are not delivered as agreed). Most organizations find that about 20% of services 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 come together to deliver them; including the flow of raw materials, utilities, people, data and operational sites.
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 cropped up.
Once you figure out where your business is exposed you can create 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 portable generators.
The make-up and extent of the strategies and plans you agree will be led by the importance of the product or service and your budget you may have to develop crisis response plans first to reduce the scale of the loss whilst you work on developing the degree of resilience that you require to forestall disruptions.
Often you can markedly reduce the possible harm to your organization's critical activities by spending a few days thinking through the "what-ifs" so it makes evident 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 organisation in place.
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