Good Management Dictates That Business Continuity Should Be At The Front Of Your Board's Quarterly Review To Maximise Survivability In This Economy.
Experienced directors are finally realising the payback of creating a business continuity management system as a means of improving their competitive advantage and reassuring shareholders of their ability to deliver. With business calamities routinely appearing in the papers, isn't it high time that your organization joined them?
Business Continuity has emerged in the previous 6 years as an essential element of good management for not-for-profit and private sector organizations of all shapes and sizes.
Over time we are seeing big, established organizations go out of business because they have failed to foresee and plan for wide-ranging disruption and disaster. So what can business owners and directors do to ensure their firm will weather the storm in these unpredictable market conditions?
Happily there are both business continuity processes and professionals available to help business executives defend their organization from the uncertain mix of hazards and threats they face; but where do you get started?
First of all you need to agree as a board that business continuity is vital to your organization and then put some cash behind that decision.
With resources agreed, you should finalise an achievable schedule for improving your organization's resilience to disturbances and decide 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 build your business continuity policies, strategies and plans.
If you haven't got business continuity expertise within your current staff, you would be advised to look to the marketplace for suitable providers that are proven in the design and implementation of business continuity management services for businesses of your size.
With your team in place, you'll need to get started by determining your most vital products and services; the things that account for most of your revenue or have the most impact if they are delivered or not). Most organizations find that some 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 most important products and services are documented the team needs to look at the people, systems and processes that come together to deliver them; including the supply of raw materials, utilities, key staff, data and premises.
With the business processes documented for each critical product or service, you should identify weaknesses within those processes and work out how they would affect the quality of supply if they arose.
Once you figure out where your business is vulnerable you can build suitable strategies and plans to cut-down the risk of those disruptions arising or their impact: for example if a process depends on availability of electrical power, you might install back up supplies from batteries or portable generators.
The nature and scope of the strategies and plans you make will be led by the perceived importance of the product or service and your potential losses you might choose to create emergency response plans first to reduce the scale of the disruption whilst you work on building the degree of resilience that you require to rule out foreseeable disruptions.
Sometimes you can significantly minimise the possible harm to your organization's outputs by thinking through the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, market forces or straightforward common-sense.
Take action today, before circumstances make you wish you had not sat on the fence about putting a fit-for-purpose business continuity management organisation in place.
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