Importance of Business Continuity Management
Importance of Business Continuity Management

Business continuity management (BCM) is a process of planning for any disruptive incidents. It involves identifying potential threats to the organization and analyzing the impact on day-to-day operations. An effective BCM ensures that the business can provide minimum acceptable service in the event of a disaster and helps preserve the corporate image, reputation and revenue.

BCM is a form of insurance. It gives the comfort of knowing if disaster strikes, it won’t be devastating. Without a management system in place, a disruption isn’t only a major hassle and a source for reputational damage. It can also lead to extensive delays that may cause irreparable financial damage. BCMs can be tailored to help organizations prepare for any number of disruptions including:

  • Natural disasters like earthquakes, snowstorms or heavy wind
  • Man-made disasters like road and rail disruptions
  • Technological failures like crashed system or corrupted files
  • Human error like data exposure or lost USB
  • Infrastructural damage like burst pipe, power cut or electrical fire
  • Sabotage like stolen files or deliberately corrupted files
  • Cyber-attacks like ransomware or phishing attacks

The main reason to implement business continuity management is to ensure that your business process remain operational in the event of a disruption. There are also other reasons to adopt the system like:

  1. Protect organization’s reputation
    The public will be impressed if you can respond efficiently and quickly following a disruption. It will mitigate negative sentiments that will accompany the loss of productivity.
  2. Boosts employees’ morale
    If the system is well managed, everyone in the organization will be counted for will prove to employees that management has considered their needs.
  3. Build relationship with third parties and subsidiaries
    An effective BCM demonstrates that the organization is being run well from top to bottom that will encourage you work with. It shows that you are a reliable partner that has taken into account its responsibilities to customers, partners and employees.
  4. Help you meet regulatory requirements
    A growing body of legislation requires business in essential areas to implement effective business continuity arrangements. The corporate governance regulations require directors to exercise reasonable care, diligence and skill to mitigate risks facing the organization.

The organizations operating in critical infrastructure industries will be required to implement incident response capabilities in line with the requirements of EU’s directive on security of network and information systems. Implementing effective BCM is the best practice approach to manage business interruptions and incidents to meet directive’s requirements.

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