Business Continuity Management (BCM) is a key risk mitigation strategy for business interruption and supply chain
It is applicable and highly effective for large organizations and offers exceptional value for smaller enterprises.
WHY DO WE NEED BCM?
Customers increasingly require suppliers to have a proven business continuity plan before agreeing to buy from them. Similarly, many insurers now recommended or require BCM implementation, supporting business interruption and loss of profit insurance.
WHAT DOES BCM INVOLVE?
BCM includes production of paper business continuity plans but also requires organization, analysis, evaluation, training, reviews and other activities. It should be driven by a management process that identifies risks and impacts,
providing a framework for building resilience and response capability.
We can then divide BCM activities into two parts, covering pre and post incident planning. The former includes risk assessment, risk prevention, preparation and training; the latter provides emergency response, crisis management and business recovery.
Well constructed BCM systems need to be flexible and scalable, allowing any organization to and build appropriate resistance to risk and major disruption.
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