“An ounce of prevention is worth a pound of Cure” – Benjamin Franklin
The entire businesses around the world are exposed to risk or disruptions whether it is from fire, equipment failure, natural disaster, communication failure, economy downturn or an act of terrorism. There can be hardly superior hazard to any organisation than recession. The organisations experienced more disruptions than ever in the past years. These disruptions can ruin the organisations or make it difficult to survive. This is where Business Continuity Management (BCM) plays integral role to smoothly run the business without any interruption. Business Continuity Management is very important for the endurance of the business.
Business Continuity Management is a method designed to ensure that the functions of an organisation can be managed or restored promptly in the event of internal or external occurrence. One of the most important objectives of the BCM is to reduce the legal, financial and reputational damage of these events which results, increase in profitability of a business.
Business Continuity Management is defined as a holistic management process that identifies potential impacts that threaten an organisation and provides a framework for building resilience with the capability for an effective response that safeguards the interests of its stakeholders, reputation, brand and value creating activities.
In theory Business Continuity Management replicate crisis management to a great extent which has grown rapidly over the past decades, main aim of eliminating focus of social and technological problems. Crisis management approach and Information systems (IS) defense is the foundation of business continuity management.… Read the rest