Good Management Dictates That Business Continuity Should Be At The Front Of Your Board's Quarterly Review To Maximise Profitability In This Economy.
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The best directors are finally realising the payback of designing a business continuity management system as a way of improving their commercial advantage and assuring shareholders of their ability to meet contractual obligations. With business calamities routinely appearing in the papers, isn't it time that your business joined them?
Business Continuity has emerged in the past 6 years as a vital part of good management for charitable and private sector organizations of all shapes and sizes.
Over time we are observing significant, established organizations go to the wall because they have failed to anticipate and make plans for large-scale disruption and disaster. So what can business owners and directors do to ensure their firm will weather the storm in these difficult market conditions?
Thankfully there are both business continuity systems and providers available to help business owners defend their enterprise from the uncertain mix of hazards and threats they face; but where do you get started?
Most organizations find that it's best to decide as a board that business continuity is essential to your organization and then put some resources behind that decision.
With funding committed, you should set-out an achievable schedule for improving your organization's resilience to disturbances and communicate the scope of products and services that the business continuity programme will cover to help focus the team that you appoint to develop your business continuity policies, strategies and plans.
If you haven't got business continuity expertise at hand, you would be advised to look to the marketplace for suitable providers that are proven in the development and delivery of business continuity management services for companies of your size.
With your team in place, you'll need to begin by identifying your most vital products and services; the things that create most of your revenue or have the most impact if they are delivered or not). Most organizations find that some 20% of services 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 critical products and services are agreed the team needs to look at the people, facilities and processes that come together to deliver them; including the supply of raw materials, utilities, key staff, data and operational sites.
With the business processes mapped out for each important product or service, you should look for vulnerabilities within those processes and work out how they would affect the quality of supply if they happened.
Once you figure out where your business is vulnerable you can build draft strategies and plans to reduce the probability of those disruptions occurring or their impact: for example if a service depends on availability of electrical power, you might install back up supplies from DC batteries or portable generators.
The nature and scope of the strategies and plans you agree will be determined by the importance of the product or service and your budget you may need to create disaster response plans first to reduce the scale of the disruption whilst you work on building the degree of resilience needed to forestall disruptions.
Often you can considerably minimise the probable harm to your organization's outputs by thinking through the "what-ifs" so it makes evident sense to do so; whether you are driven by legislation, commercial forces or simple common-sense.
Go to it today, before life's vagaries 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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