Enlightened directors are increasingly seeing the value of creating a business continuity management system as a means of enhancing their competitive advantage and assuring shareholders of their ability to supply. With business disruptions routinely featuring in the news, isn't it high time that your organization joined them?
Business Continuity has emerged in the past 6 years as an essential part of good management for public and blue-chip institutions of all shapes and sizes.
Progressively we are seeing big, established companies go bankrupt because they have failed to anticipate and plan for significant disruption and damage. So what can business owners and directors do to make certain their firm won't come undone in these testing market conditions?
Happily there are both business continuity systems and advisors available to help business owners defend their company from the many and varied hazards and threats they face; but how do you take the first step?
The first step is to agree as a board that business continuity is essential to your organization and then put some funding behind that decision.
With funding agreed, you should agree a timescale for developing your organization's resilience to interruptions and determine the range of products and services that the business continuity programme will cover to help focus the team that you establish to develop your business continuity policies, strategies and plans.
If you haven't got business continuity expertise within your organization, you probably ought to search the internet suitable providers who've demonstrated competence in the design and implementation of business continuity management services for companies of your size.
With your team in place, you'll need to get started by identifying your most vital products and services; the things that bring most of your revenue or have the greatest impact if they are or aren't delivered). 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 begin with these initially.
Once these most important products and services are agreed the team needs to look at the people, equipment and processes that combine to deliver them; including the delivery of raw materials, utilities, staff, data and premises.
With the business processes documented for each important product or service, you should identify vulnerabilities within those processes and work out how they would affect the quality of supply if they cropped up.
Once you understand where your business is at risk you can design appropriate strategies and plans to cut-down the probability of those disruptions arising 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 type and range of the strategies and plans you make will be led by the importance of the product or service and your potential losses you may need to create crisis response plans first to mitigate against the hazard whilst you work on establishing the degree of resilience that you require to forestall disruptions.
Sometimes you can considerably minimise the potential damage to your organization's key products and services by examining the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, market forces or simple 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 system in place.
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