Enlightened directors are increasingly seeing the payback of designing a business continuity management system as a way of improving their competitive advantage and reassuring stakeholders of their ability to supply. With business interruptions routinely featuring in the papers, isn't it time that your business joined them?
Business Continuity has emerged in the previous 6 years as a necessary constituent of best practice management for public and commercial institutions of all shapes and sizes.
Over time we are observing large, established institutions collapse because they have failed to predict and prepare for significant disruption and loss. So what can business owners and directors do to make certain their firm will weather the storm in these harsh market conditions?
The good news is that there are both business continuity processes and companies available to help business executives safeguard their company from the broad range of hazards and threats they face; but how do you get started?
It's probably best first of all to decide as a board that business continuity is vital to your organization and then put some funding behind that decision.
With a budget set aside, you should determine a timetable for developing your organization's resilience to disturbances 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 establish to build your business continuity policies, strategies and plans.
If you don't have business continuity expertise in house, you may wish to search the internet suitable providers that are proven 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 clarifying your most important products and services; the things that bring most of your revenue or have the largest impact if they are or aren't delivered). 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 get to grips with these initially.
Once these vital products and services are documented the team needs to look at the structures, equipment and processes that are needed to deliver them; including the delivery of raw materials, utilities, key staff, data and operational sites.
With the business processes mapped out for each critical product or service, you should seek out weak links within those processes and clarify how they would affect the quality of supply if they occurred.
Once you know for sure where your business is at risk you can build pragmatic strategies and plans to reduce the risk of those disruptions developing or their impact: for example if a process depends on availability of electrical power, you might install fallback supplies from another switchboard or emergency generators.
The type and scope 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 have to develop incident response plans first to militate the hazard whilst you work on building the degree of resilience needed to rule out foreseeable disruptions.
Usually you can markedly reduce the potential disruption to your organization's key products and services by thinking through the "what-ifs" so it makes evident sense to do so; whether you are driven by legislation, competitive forces or straightforward common-sense.
Make a start today, before damaging events make you wish you had not procrastinated about putting a suitable business continuity management system in place.
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