Importance Of Business Continuity Management

Business continuity or business resilience is the ability to rapidly adapt and respond to business disruptions and to maintain continuous business operations. In simple terms, it is ensuring business and operational continuity by ensuring detailed planning, preparedness, and the capability to respond swiftly to any threat.

Concentrating only on disruptions can lead organizations to work cautiously, but an anticipatory approach to business resilience helps empower your organization to respond to an unanticipated incident more swiftly and more economically. A strong business continuity program can help not only in crisis situations, but also for external audits of the organization and demonstrate compliance with regulatory requirements.

Business Continuity Management is a cyclic process which follows six stages as illustrated below.

The crisis management plan specifies the accountabilities during a crisis of key individuals and unit heads within the organization. Your organization would not necessarily hope to experience a crisis, nevertheless if one were to occur, you would want your organization to possess the maximum experience to handle it quickly and effectively. In contrast to risk management, which deals with evaluating possible threats and determining the best ways to avoid those threats, crisis management deals with threats before, throughout, and after they have occurred.

It’s natural to think of a crisis as something huge or massive, natural calamity, international conflict, or sudden failure. But in practice, a crisis is any high-consequence incident that can threaten an organization’s existence, value, reputation, or ability to operate. Crises can include malevolence, cyber assaults, misdeeds, financial crimes, financial distress, technological or industrial hazards, supply chain breakdown, natural catastrophes, geopolitical confrontations, and other