Experienced directors are finally seeing the benefits of designing a business continuity management system as a way of enhancing their competitive advantage and assuring customers of their ability to meet contractual obligations. With business failures routinely featuring in the media, isn't it time that your business joined them?
Business Continuity has emerged in the past 6 years as an essential part of top-class management for charitable and profit-making institutions of all shapes and sizes.
Increasingly we are observing large, established companies go out of business because they have failed to anticipate and plan for large-scale disruption and loss. So what can business owners and directors do to make certain their firm will survive in these harsh market conditions?
The good news is that there are both business continuity systems and professionals available to help business managers protect their enterprise from the gamut of hazards and threats they face; but how do you begin?
It's probably best first of all to decide as a board that business continuity is essential to your organization and then put some cash behind that decision.
With funding agreed, you should finalise a timetable for developing your organization's resilience to disruptions and agree the scope of products and services that the business continuity programme will cover to help focus the team that you appoint to create your business continuity policies, strategies and plans.
If you lack business continuity expertise within your current staff, you may wish to search the internet suitable providers with a proven track record in the development and delivery 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 essential products and services; the things that create most of your revenue or have the biggest impact if they are or aren't delivered). Most organizations find that about 20% of services produce 80% of the benefits that accrue to the organization and those they serve so it's sensible to begin with these initially.
Once these most important products and services are captured the team needs to look at the teams, facilities and processes that are needed to deliver them; including the delivery of raw materials, utilities, people, data and operational sites.
With the business processes mapped out for each important product or service, you should identify vulnerabilities within those processes and figure out how they would affect the quality of supply if they arose.
Once you realise where your business is at risk you can create pragmatic strategies and plans to reduce the probability of those disruptions arising or their impact: for example if a product depends on availability of electrical power, you might install alternative supplies from DC batteries or emergency generators.
The type and extent of the strategies and plans you agree will be determined by the importance of the product or service and your potential losses you may need to establish emergency response plans first to militate the hazard whilst you work on developing the degree of resilience needed to forestall disruptions.
Sometimes you can considerably lessen the probable loss to your organization's key products and services by spending a few days thinking through the "what-ifs" so it makes evident sense to do so; whether you are driven by legislation, competitive forces or simple common-sense.
Take action today, before life's vagaries make you wish you had not delayed in making decisions about putting a proper and effective business continuity management organisation in place.
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