10 pages/≈2750 words
Business & Marketing
Business Continuity Management: Critical discussion (Essay Sample)
Critically discuss the above statement. This essay should draw on a wide range of literature relating to regulatory, legislative and business-orientated drivers for Business Continuity Management (BCM) and consider the challenges faced by BCM managers in the initiation and implementation of BCM. You should arrive at some conclusion as to the value of having BCM during a recession. also discuss the important role of the British Standard for BCM \"BS25999\" in business. Marking criteria overleaf. source..
Running Head: Business Continuity Management
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In the contemporary world, the business organizations are faced with the problem of continuity and how to serve the customers when the business organization malfunctions. Despite the business reputation well built, provision of quality products to its consumers and also timely delivery, the question of continuity is still a major setback and challenge to institutions. Over the past years, where crisis or calamity befell the organization, the consumers provided the management with two or three months for them to get to their feet. Nowadays, the business entity needs more than the insurance policy for it to enhance its survival; it needs perfect Business Continuity Management.
Business Continuity Management (BCM) involves framework based on the risk involved in the operations the business undertakes and it is developed by enacting clear policies, accountabilities and strategies which aids in recovering the significant business functions. BCM is considered a proactive process. As such, various institutions should endeavor to create a culture in the organization which culminates BCM in its core operations and the current organizational risk management (Burtles, 2007). Depending on complexity and scale of business operations, the business organizations can embed BCM practices. The major components to be articulated in BCM practices include clear BCM strategy, policy and budget, the responsibilities and roles of BCM programme are well-defined, and also the Business Continuity Plan (BCP) should comprise detailed activities and tasks. In addition, the programme should articulate to well define succession strategies for its senior management and the staff at large, analysis of business impact and/or processes, and it should entail implementation, development, maintenance and testing of BCP. Consequently, training programmes and awareness should be implemented, emergency responses put into consideration and more critical is the impacting of external communication and coordination to the parties like interdependent agencies and authorities.
BCM therefore entails a more comprehensive process which aims at ensuring that business operations are improved and continues despite the challenges it may face in its operations. In this context, BCP is of consequential importance as it provides tangible and efficient evidence to the firm`s BCM initiative. The process should maintain a practical operation, reviewed regularly, updates made when the company`s way of operation changes, and an inherent test undertaken in order to ensure the relevancy of the initiative, operational viability and effectiveness.
Testing is imperative where the company needs to implement a more effective BCM. Technological change, firms` processes and the workers roles can have an effect to the nature and appropriateness of BCP. This will ultimatel...
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