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Read Why Business Continuity Should Be At The Start Of Your Board's Quarterly Review To Maximise Performance During This Global Recession.
Experienced directors are increasingly seeing the benefits of creating a business continuity management system as a method of improving their competitive advantage and reassuring stakeholders of their ability to deliver. With business disruptions routinely dominating in the press, isn't it high time that your company joined them?
Business Continuity has emerged in the past 6 years as an essential constituent of best practice management for not-for-profit and blue-chip institutions of all shapes and sizes.
Increasingly we are seeing big, established organizations go out of business because they have failed to predict and make plans for wide-ranging disruption and damage. So what can business owners and directors do to guarantee their firm will survive in these testing market conditions?
Happily there are both business continuity systems and professionals available to help business executives safeguard their organization from the many and varied hazards and threats they face; but in what order do you begin?
The first step is to document as a board that business continuity is essential to your organization and then put some cash behind that decision.
With a budget committed, you should finalise a timescale for upgrading your organization's resilience to disruptions and determine the extent of products and services that the business continuity programme will cover to help focus the team that you appoint to build your business continuity policies, strategies and plans.
If you don't have business continuity expertise within your current staff, you probably ought to search the internet suitable providers with a proven track record in the design and realisation of business continuity management services for companies 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 account for most of your revenue or have the greatest impact if they are or are not delivered as agreed). Most organizations find that about 20% of activities produce 80% of the benefits that accrue to the organization and their clients so it's sensible to begin with these initially.
Once these most important products and services are documented the team needs to look at the structures, systems and processes that combine to deliver them; including the flow of raw materials, utilities, people, data and premises.
With the business processes clarified for each important product or service, you should identify weak links within those processes and clarify how they would affect the quality of supply if they arose.
Once you understand where your business is exposed you can create appropriate strategies and plans to moderate the probability of those disruptions arising or their impact: for example if a process depends on availability of electrical power, you might install fallback supplies from batteries or diesel generators.
The make-up and extent of the strategies and plans you make will be informed by the importance of the product or service and your potential losses you may have to develop emergency response plans first to mitigate against the loss whilst you work on developing the degree of resilience that your key stakeholders wish you to put in place to forestall disruptions.
Sometimes you can markedly reduce the possible damage to your organization's critical activities by spending a few days thinking through the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, market forces or simple common-sense.
Take action today, before damaging events make you wish you had not procrastinated about putting a fit-for-purpose business continuity management system in place.
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