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Good Management Dictates That Business Continuity Should Be At The Front Of Your Board's Agenda To Maximise Survivability During This Global Recession.
Experienced directors are increasingly realising the advantages of designing a business continuity management system as a way of improving their commercial advantage and assuring stakeholders of their ability to deliver. With business interruptions routinely appearing in the news, isn't it time that your business joined them?
Business Continuity has emerged in the previous 6 years as a necessary part of best practice management for not-for-profit and commercial organizations of all shapes and sizes.
More and more we are observing large, established institutions collapse because they have failed to anticipate and make plans for wide-ranging disruption and loss. So what can business owners and directors do to ensure their firm survives in these harsh market conditions?
The good news is that there are both business continuity processes and companies available to help business owners safeguard their organization from the broad range of hazards and threats they face; but where do you start?
It's probably best first of all to decide as a board that business continuity is vital to your organization and then put some money behind that decision.
With funding committed, you should finalise a timetable for improving your organization's resilience to interruptions and agree the scope of products and services that the business continuity programme will cover to help clarify the work expected from the team that you set-up to develop your business continuity policies, strategies and plans.
If you don't have business continuity expertise within your current staff, you may wish to look to the marketplace for suitable providers who've demonstrated competence in the development and delivery of business continuity management services for businesses of your size.
With your team in place, you'll need to start by identifying 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 services produce 80% of the benefits that accrue to the organization and those they serve so it's sensible to get to grips with these initially.
Once these vital products and services are agreed the team needs to look at the structures, systems and processes that are needed to deliver them; including the supply of raw materials, utilities, staff, data and operational sites.
With the business processes mapped out for each critical product or service, you should seek out vulnerabilities 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 pragmatic strategies and plans to reduce the risk of those disruptions developing or their impact: for example if a service depends on availability of electrical power, you might install fallback supplies from batteries or emergency generators.
The nature and range of the strategies and plans you agree will be determined by the perceived importance of the product or service and your available resources you may need to develop emergency response plans first to militate the disruption whilst you work on establishing the degree of resilience needed to rule out foreseeable disruptions.
Usually you can considerably reduce the possible disruption to your organization's outputs by taking time to consider the "what-ifs" so it makes evident sense to do so; whether you are driven by legislation, competitive forces or straightforward common-sense.
Get started today, before life's vagaries make you wish you had not procrastinated about putting a fit-for-purpose business continuity management system in place.
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