Why Business Continuity Should Be At The Start Of Your Board's Agenda To Maximise Profitability During This Global Recession.

Experienced directors are increasingly realising the payback of developing a business continuity management system as a method of improving their commercial advantage and reassuring stakeholders of their ability to deliver. With business interruptions routinely appearing in the papers, isn't it high time that your company joined them?

Business Continuity has emerged in the previous 6 years as a vital constituent of best practice management for not-for-profit and commercial organizations of all shapes and sizes.

Over time we are finding big, established organizations go to the wall because they have failed to predict and prepare for wide-ranging disruption and loss. So what can business owners and directors do to ensure their firm will weather the storm in these unpredictable market conditions?

Happily there are both business continuity processes and providers available to help business directors safeguard their organization from the broad range of hazards and threats they face; but where do you get started?

First of all you need to document as a board that business continuity is vital to your organization and then put some resources behind that decision.

With a budget set aside, you should finalise a timetable for improving your organization's resilience to disturbances and decide the extent of products and services that the business continuity programme will cover to help clarify the work expected from the team that you appoint to create your business continuity policies, strategies and plans.

If you don't have business continuity expertise within your current staff, you may wish to look to the marketplace for suitable providers that are proven in the creation and realisation of business continuity management services for businesses of your size.

With your team in place, you'll need to begin by clarifying your most important products and services; the things that account for most of your revenue or have the largest impact if they are delivered or not). Most organizations find that some 20% of products produce 80% of the benefits that accrue to the organization and their clients so it's sensible to get to grips with these initially.

Once these critical products and services are noted the team needs to look at the structures, systems and processes that are needed to deliver them; including the supply of raw materials, utilities, key staff, data and buildings.

With the business processes clarified for each critical product or service, you should look for weak links within those processes and clarify how they would affect the quality of supply if they arose.

Once you know for sure where your business is vulnerable you can build suitable strategies and plans to moderate the risk of those disruptions occurring or their impact: for example if a function depends on availability of electrical power, you might install fallback supplies from batteries or emergency generators.

The nature and scope of the strategies and plans you establish will be informed by the perceived importance of the product or service and your budget you may have to develop emergency response plans first to militate the disruption whilst you work on building the degree of resilience that your valued customers wish you to put in place to rule out foreseeable disruptions.

Often you can markedly reduce the possible disruption to your organization's outputs by thinking through the "what-ifs" so it makes a great deal of sense to do so; whether you are driven by legislation, market forces or straightforward common-sense.

Go to it 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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