To be or not to be in business after a crisis is the title of my forthcoming free webinar on 21 June 2016 with the MILE Madinah Institute.
Business continuity is often mistakenly thought of as a cost to business rather an essential investment in your business’s ‘survivability’. Swiss RE reported in 2015 worldwide losses expected to reach USD$85B with approximately 26,000 deaths and insured losses estimated USD$32B. Some of the big disasters in 2015 included: The earthquake in Nepal in April, which killed more than 8,800 people and damaged or destroyed nearly 900,000 buildings. In August, an explosion in Tianjin (China) rocked the city within 170 dead and global supply chains disrupted. Diseases such as the Zika virus, avian influenza and MERS continue to circulate. Cyber-attacks, terrorism and severe weather increased droughts, flooding, heatwaves and wildfires.
How would your business survive these challenges, if similar events impacted on your operations?
Yes, most businesses have business interruption and other insurances. Check the fine print. You will be alarmed to discover the length of time between an adverse event taking your business offline and payment. What will you do in the interim? This is where business continuity can help you and your business ‘to keep on keeping on’, when your business will likely have negative cash flow and too many unanticipated outgoings.
Other benefits of business continuity management include:
* Competitive advantage.
* Regulatory compliance.
* Brand and reputation protection.
* Risk identification.
* Operational improvements in your ‘business as usual’
* Knowledge capture
* Cost savings and
* Increased robustness and business resilience.
Please join the free webinar on learn more about business continuity management and its advantages for your business.