To be or not to be in Business after a Crisis

Business continuity management is often mistakenly thought of as a cost to business rather an essential investment in your business’s ‘survivability’.

Swiss RE reported in 2015 worldwide losses expected to reach USD$ 85 B with approximately 26,000 deaths and insured losses estimated USD$32B. Some of the biggest disasters in 2015 included:

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  • in April the earthquake in Nepal, which killed more than 8,800 people and damaged or destroyed nearly 900,000 buildings.
  • during May-June, heat waves in India & Pakistan caused over 3,000 deaths with highest records temperatures since 1995.
  • in August, global supply chains were disrupted an explosion in the Port of Tianjin (China) rocked the city within 173 dead, injured more with much property damage and claims totalling USD$2B making it the largest ever man-made loss event
    in Asia.
  • Diseases such as the Zika virus, avian influenza and Middle Eastern Respiratory Syndrome (MERS) continue to circulate.
  • Cyberattacks, terrorism and severe weather increased droughts, flooding, heatwaves and wildfires.

The webinar challenges you to consider how would your business survive these challenges, if similar events impacted on your operations?

Yes, most businesses have business interruption and other insurances. Check the fine print. You will be alarmed to discover the length of time between an adverse event taking your business offline and payment. What will you do in the interim? This is where business continuity management can help you and your business ‘to keep on keeping on’, when your business will likely have negative cash flow and too many unanticipated outgoings.

Other benefits of business continuity management (BCM) include:

  • competitive advantage
  • brand and reputation protection
  • risk identification
  • team building
  • regulatory compliance
  • operational improvements in your ‘business as usual’ (BAU)
  • captures knowledge
  • cost savings in a crisis and BAU plus
  • increased robustness and business resilience.

Business continuity management:

  • is about planning, preparing and managing non-routine business disruptions
  • offers you a methodology to prepare, respond, recover and resume BAU.
  • assists you to assess key resources and how their loss or reduction would adversely impact on your business:

o   Infrastructure and other physical assets

o   Information and Communications Technology (ICT)

o   People

o   Reputation

o   Dependencies i.e. who and what does your business depend on and who and what depends on your business’s products and services

b4crisis

The webinar helps you to on learn more about business continuity management and its advantages for your business.

Business continuity international standards are available through International Standards Organization http://www.iso.org/iso/home.html Relevant standards include: ISO 22301:2012 – Societal Security – Business Continuity Management Systems – Requirements and its related suite of standards for terminology
(ISO 22300:2012) exercising (ISO 22398:2013) business impact analysis
(ISO/TS 22317:2015).

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