Enlightened directors are increasingly realising the advantages of creating a business continuity management system as a means of enhancing their commercial advantage and assuring shareholders of their ability to supply. With business disruptions routinely appearing in the news, isn't it high time that your organization joined them?
Business Continuity has emerged in the last 6 years as a necessary part of good management for public and blue-chip firms of all shapes and sizes.
More and more we are seeing significant, established firms collapse because they have failed to anticipate and plan for significant disruption and damage. So what can business owners and directors do to ensure their firm survives in these testing market conditions?
Thankfully there are both business continuity solutions and companies available to help business owners defend their company from the many and varied hazards and threats they face; but where do you start?
The first step is to agree as a board that business continuity is important to your organization and then put some money behind that decision.
With funding agreed, you should determine a timescale for improving your organization's resilience to interruptions and determine the range of products and services that the business continuity programme will cover to help orientate the team that you set-up to develop your business continuity policies, strategies and plans.
If you haven't got business continuity expertise in house, you probably ought to seek out suitable providers who've demonstrated competence in the design and implementation 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 greatest 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 customers so it's sensible to start with these initially.
Once these vital products and services are agreed the team needs to look at the people, equipment and processes that combine to deliver them; including the supply of raw materials, utilities, staff, data and premises.
With the business processes documented 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 understand where your business is vulnerable you can design appropriate strategies and plans to cut-down the likelihood of those disruptions developing or their impact: for example if a service depends on availability of electrical power, you might install back up supplies from another switchboard or diesel generators.
The nature and range of the strategies and plans you make will be led by the significance of the product or service and your available resources you may need to create incident response plans first to mitigate against the disruption whilst you work on establishing the degree of resilience that you require to prevent disruptions.
Usually you can considerably minimise the potential damage to your organization's outputs by taking time to consider the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, commercial forces or plain common-sense.
Get started today, before life's vagaries make you wish you had not sat on the fence about putting a suitable business continuity management system in place.
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