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Good Management Dictates That Business Continuity Ought To Be At The Top Of Your Board's Quarterly Review To Maximise Performance In The 21st Century.
Responsible directors are finally realising the benefits of creating a business continuity management system as a way of enhancing their competitive advantage and assuring shareholders of their ability to supply. With business failures routinely appearing in the media, isn't it high time that your business joined them?
Business Continuity has emerged in the last 6 years as a necessary part of good management for public and profit-making organizations of all shapes and sizes.
Increasingly we are seeing large, established firms collapse because they have failed to anticipate and plan for significant disruption and loss. So what can business owners and directors do to ensure their firm will survive in these testing market conditions?
The good news is that there are both business continuity solutions and companies available to help business managers defend their company from the gamut of hazards and threats they face; but where do you begin?
The first step is to decide as a board that business continuity is important to your organization and then put some funding behind that decision.
With funding agreed, you should determine a timetable for improving your organization's resilience to disruptions and determine the scope of products and services that the business continuity programme will cover to help orientate the team that you establish to create your business continuity policies, strategies and plans.
If you haven't got business continuity expertise in house, you may wish to look to the marketplace for suitable providers with a proven track record in the design and delivery of business continuity management services for organizations of your size.
With your team in place, you'll need to start by identifying your most vital products and services; the things that bring most of your revenue or have the biggest impact if they are delivered or not). Most organizations find that about 20% of activities produce 80% of the benefits that accrue to the organization and those they serve so it's sensible to start with these initially.
Once these vital products and services are captured the team needs to look at the people, equipment and processes that are needed to deliver them; including the supply of raw materials, utilities, people, data and premises.
With the business processes mapped out for each vital product or service, you should seek out vulnerabilities within those processes and work out how they would affect the quality of supply if they occurred.
Once you realise where your business is vulnerable you can create appropriate strategies and plans to reduce the likelihood of those disruptions developing or their impact: for example if a product depends on availability of electrical power, you might install back up supplies from another switchboard or emergency generators.
The nature and extent of the strategies and plans you make will be determined by the significance of the product or service and your available resources you may need to create incident response plans first to militate the disruption whilst you work on developing the degree of resilience needed to prevent disruptions.
Usually you can considerably minimise the potential loss to your organization's outputs by spending a few days thinking through the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, competitive forces or plain common-sense.
Make a start today, before life's vagaries make you wish you had not sat on the fence about putting a suitable business continuity management organisation in place.
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