Nobody likes to think that the worst might happen to their business, but when it does it can have devastating consequences. A reported one in five companies suffers a major disruption every five years and 92% of those affected by fire or flood never recover. The best thing you can do to protect your business is be prepared.
What is a crisis?
A crisis is a situation beyond the scope of everyday business, which threatens the operation, safety and reputation of your company. The exact nature may depend on your business' circumstances, but could include:
- Natural disasters – i.e. flooding or storm damage
- Theft or vandalism
- Fire
- Power cuts
- Fuel shortages
- IT failure
- Restricted access to premises
- Loss of key staff
- Outbreak of disease or infection
- Industrial action
You should assess the likelihood of a particular crisis occurring to your business and its possible frequency. You can do this by grading the probability of a crisis occurring on a scale, i.e. one to five or high to low.
Read more: http://www.fpb.org/hottips/419/Crisis_management_and_business_continuity_planning.htm
Source: Forum for Private Business
www.ukba.co.uk
Showing posts with label business continuity. Show all posts
Showing posts with label business continuity. Show all posts
Friday, 22 May 2009
Thursday, 2 April 2009
The UK economy is losing over £11bn every year due to major disruptions that effective business continuity management could prevent, according to BCI.
The BCI (Business Continuity Institute) researched key findings across 17 causes of major disruptions to calculate the cost impact to the UK economy. The figure shows that organisations are still not looking seriously at Business Continuity Management to provide a framework for managing the impact of potential disruptions to their businesses.
"In the current economic downturn, customers and suppliers will inevitably go out of business and it is vital that an organisation understands its dependency on critical suppliers. The lack of availability to essential products can have a serious impact on business," said Lyndon Bird, Technical Director of the BCI.
www.ukba.co.uk
"In the current economic downturn, customers and suppliers will inevitably go out of business and it is vital that an organisation understands its dependency on critical suppliers. The lack of availability to essential products can have a serious impact on business," said Lyndon Bird, Technical Director of the BCI.
www.ukba.co.uk
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