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16 July 2010
Pandemic planning: a business continuity success story
If every time a potential serious event (pandemic, volcanic ash, even Y2K) is treated as a waste of time and money if things don’t go horribly wrong, we will never get business continuity management taken seriously. The prime purpose of business continuity is to STOP the worst impact of unexpected events being realised, not to dash around in panic dealing with a crisis. The lack of massive loss of life, infrastructure destruction or business failure is a business continuity SUCCESS.
Contact: Lyndon Bird FBCI
BCI International Technical Director
tel: +44 (0) 118-947 8215
email: lyndon.bird@thebci.org
9 July 2010
No BC Plans in 44% of Small Firms
Business continuity experts know it, but apparently not all small businesses do: 75% of small firms that sustain a disaster go out of business within five years. Yet according to a study by the insurance company Travelers, nearly 44 percent of small businesses operate with no continuity plan.
In an article on the Hartford Business website, Becky Bergman says the study polled 101 people at the U.S. Chamber of Commerce America’s Small Business Summit in May. “Thirty-nine percent believe they do not have the time or resources to identify and prepare for risks,” Bergman writes.
Ignoring risk is only acceptable for businesses that can go for hours, days or weeks without providing goods or services to customers, said Brian Barnier of ValueBridge Advisors. Otherwise, any outage would be a huge problem.
“All of us will experience human errors, equipment failures and power outages, said financial consultant Donna Childs, who founded RiskReady LLC. “The best approach is to prepare for the everyday disaster… it gradually builds resilience against more serious disasters.”
2 July 2010
The 2010 Business Continuity Benchmark Report
New research published by Marsh shows that many firms appear to be over-confident in their ability to manage the business continuity and supply chain risks facing their organizations, leaving them highly vulnerable to physical disruption and economic conditions.
The research, for Marsh's 2010 Business Continuity Benchmark Report, examined the perceptions of business continuity management of over 220 business continuity and risk managers from 11 industry sectors, including financial services and manufacturing, across Europe, the Middle East and Africa (EMEA).
Although 83 percent of respondents believed that business continuity management was integral to their risk management and that it was understood and supported by senior management, only 41 percent said that it had given them a better understanding of their business. Moreover, just 29 percent felt that it had led to improved risk-intelligent decision-making.
For the full report contact us.
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