The Business Continuity Management (BCM) program prepares organizations for any potential disaster by continuing key activities and building resilience and preparedness. Continuity in operations for industries is heavily reliant on resources such as workforce, facilities, equipment, IT infrastructure and supply chain. This increases the level of risk that industries are exposed to. A shortage or delay in any of the dependent resources would rapidly halt the operations as witnessed over the last few years due to the spread of the Covid-19 pandemic or geopolitical events. The reliability and continuity of these operations are critical for businesses to survive and overcome challenges posed by any potential threats. Organizations have to simultaneously manage the dependent resources whilst also engaging with the required stakeholders and customers to meet the requirements. Simultaneously, they must also adhere to local and global regulatory measures
Benefits of implementing BCM
- Safety of the people
- Continuity in business operations
- Protect brand image and reputation
- Avoid significant financial loss
- Build supply chain resilience
Research shows that:
- More than 50% of companies have no adequate business continuity plans to address disasters.
- Only 20% of the companies were prepared to address the pandemic in the past few years
- More than 25% of companies are now developing business continuity plans to increase preparedness and resilience.