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Read Why Business Continuity Should Be At The Top Of Your Board's Quarterly Review To Maximise Performance In This Economy.
Responsible directors are finally realising the value of creating a business continuity management system as a method of enhancing their competitive advantage and reassuring stakeholders of their ability to supply. With business calamities routinely appearing in the news, isn't it high time that your company joined them?
Business Continuity has emerged in the last 6 years as an essential constituent of best practice management for public and private sector organizations of all shapes and sizes.
Progressively we are seeing huge, established firms go out of business because they have failed to predict and prepare for significant disruption and disaster. So what can business owners and directors do to ensure their firm won't come undone in these unpredictable market conditions?
Encouragingly there are both business continuity solutions and professionals available to help business directors safeguard their company from the uncertain mix of hazards and threats they face; but where do you take the first step?
First of all you need to document as a board that business continuity is important to your organization and then put some cash behind that decision.
With a budget set aside, you should determine an achievable schedule for improving your organization's resilience to interruptions and decide the extent of products and services that the business continuity programme will cover to help orientate the team that you appoint to create your business continuity policies, strategies and plans.
If you don't have business continuity expertise in house, you would be advised to look to the marketplace for suitable providers who've demonstrated competence in the design and realisation of business continuity management services for organizations of your size.
With your team in place, you'll need to get started by clarifying your most important products and services; the things that bring most of your revenue or have the most 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 clients so it's sensible to start with these initially.
Once these most important products and services are noted the team needs to look at the structures, equipment and processes that come together to deliver them; including the supply of raw materials, utilities, staff, data and premises.
With the business processes clarified for each vital product or service, you should identify weak links within those processes and clarify how they would affect the quality of supply if they occurred.
Once you figure out where your business is vulnerable you can design suitable strategies and plans to moderate the likelihood of those disruptions arising or their impact: for example if a function depends on availability of electrical power, you might install fallback supplies from another switchboard or portable generators.
The nature and range of the strategies and plans you make will be informed by the significance of the product or service and your potential losses you may have to develop incident response plans first to reduce the scale of the disruption whilst you work on establishing the degree of resilience that your key stakeholders wish you to put in place to prevent disruptions.
Sometimes you can markedly reduce the potential harm to your organization's outputs by examining the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, environmental forces or plain common-sense.
Take action today, before damaging events make you wish you had not procrastinated about putting a suitable business continuity management organisation in place.
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