As a Business professional, you’ve likely seen your share of internal disruptions that have halted – or at least slowed – the company’s ability to meet its mission and objectives. Whether there were caused by natural disasters or technology failures, business continuity planning is paramount for organization of any size.
By utilizing an industry leading Business Continuity Management (BCM) Program framework of processes and guidelines, your organization can accurately meet, measure and monitor its operational goals – from delivering services to protecting most valuable asset - the people.
Only 32% of businesses have developed and implemented their Business Continuity Plan
Many organizations have attempted to justify not having a BCM Program – likely believing the defense that “it won’t happen to us” will hold. Here, we’ve listed some of the excuses and misconceptions about the lack of business continuity planning:
- The time spent creating a BCM Program and plan would take away from our mission.
- Most of the BCM Program processes just outline common sense procedures.
- BCM Programs are easy to create in-house and not worth the money to invest in externally.
- BCM Program is only meant for larger businesses. We are too small to invest.
- BCM Program is important but not a top priority at the time.
- Our business has no or very minimal risks.
- We have a data backup.
While the above excuses may seem somewhat justifiable, they are misconceptions by far. No matter the size of your business or budget, a BCM Program is certainly an integral foundation upon which your organization should build on to effectively meet its objectives and mission.
The BCM Program provides your organization with the ability to respond to threats such as natural disasters, data breaches or technology failures. It also protects the viability and business interests of your organization.
There is a tried and tested methodology to implement the BCM Program in your organization. When looking to implement the BCM Program, you’ll want to ensure that the following is addressed:
- Key Services and Functions are identified and prioritized – this process identifies the most significant activities that must stay operational or be restored, at a minimum, to keep your business operational.
- Risks and Impacts have been identified – process of identifying risk and impacts within the business, and external to your organization that are most likely to disrupt your daily operations.
- Business Continuity Plan is developed - this document shall outline processes and procedures and overarching set of tools which will ensure that you can restore your business services quickly in the event of natural disasters, data breaches and other unforeseen events that threaten to jeopardize your business’ ability to meet organizational objectives.
22% of businesses unable to recover within 10 days will never reopen or open with significant financial losses
With a BCM Program and Business Continuity Plan (BCP) in place, your organization will benefit greatly from the likelihood of operational resiliency while minimizing the loss of revenue and affect the relationship with clients and consumers.
What’s more, having a BCM Program can drastically improve communication within your organization and with your customers, suppliers, vendors, and other key stakeholders. Not only does a BCM program help in the midst of a crisis, but it also thwarts having to “put out” daily operational (and internal) “fires” that would otherwise take place in a chaotic or toxic work environment.
At StratoGrid Advisory, we make it easy for your business to identify what your risks are, fine tune your operational objectives, educate your employees, safeguard your essential information (including vendors, customers and suppliers information), preserve your technology, and know when and what to do in the event any of the above are threatened or compromised.
A BCM Program is vital to the survival and success of your organization and its assets. It’s time to join the 32% of successful and resilient businesses that are prepared with a BCM program.
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