Organisations exist for the sole reason of providing services to their customers. In the course of providing services to their customers there exists a probability of certain disruptions that might impact them to such an extent that they might not be able to serve their customers. …
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In the course of providing services to their customers there exists a probability of certain disruptions that might impact them to such an extent that they might not be able to serve their customers. It is for this reason that organisations undertake functions for prevention of disruptions, try to stay prepared, undertake risk management, crisis management, recovery processes and emergency responses. They also decide on processes that can ensure speedy resumption of business and manage resources for this purpose based on their understanding of their business environment. These functions serve as the organisation’s protection from future predicaments. Efficiency and effectiveness is achieved through the integration of these functions (Shaw, n.d.). There are several factors that affect business continuity namely networking reliability, data availability, scalability and availability of operating systems, application availability and reliability of server hardware. It is imperative for a business to continuously operate, ensure data availability at all times and display agility in accessing the data. The advancement in information technology has made it necessary to achieve business continuity on the basis of ‘continuous computing’ technologies. This is the reason that Business Continuity Management (BCM) and Crisis Management has become an integral part of the information system of an organisation (Nijaz & Moon, 2009). Most businesses do not prepare for unexpected breakdowns in advance or even if they plan, it is often outdated. Good continuity is reflected through advance planning thereby paying attention to minute nuances so that when an emergency situation arises then there is no reason to panic. Most organisation lack this kind of detailed planning as they tend to concentrate only on Information Technology (IT) and carry out too much of business analysis. Planning and simplicity in BCM ensures acceptable service levels for key processes in the business. BCM involves preplanning and coming up with alternative solutions. BCM is essential for the long term survival of the business (Hotchkiss, 2010). What is BCM? In the words of Shaw and Harrold, business crisis and continuity management can be defined as “the business management practices that provide the focus and guidance for the decisions and actions necessary for a business to prevent, prepare for, respond to, resume, recover, restore and transition from a disruptive (crisis) event in a manner consistent with its strategic objectives” (Shaw, n.d.). BCM entails maintaining and developing a total plan for business continuity which ensures the business’ survival in case any disruption occurs. BCM involves development of plans based on the analysis of business impact, plan execution and regularly updating the plan to discover new risks, threats and business situations (Hotchkiss, 2010). BCM involves evaluating and understanding the risks faced by the company, assessing the impact of an unexpected situation on the organisation and accordingly making decisions regarding the extent to which the organisation should prepare for an unforeseen crisis situation (Matthys, 2010). Critical Appraisal of Drivers of BCM Every organisation in today’s world needs to bring about strategic changes in response to the changes occurring in their economic environment. These changed are driven by various regulations namely government regulations and compliancy regulations.
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astrous happening. The occurrences usually involve the daily activities of a company in terms of business, and they usually posses the potential of ruining it (Elizabeth, 2002:56). The relevant decisions are usually implemented during, or just after the end of the situation.
The undeniable reality of doing business in today's global market is called risk. Since nowadays companies and organisations are working in a seamless market, so the risk has also become borderless nowadays. Companies can stabilize their cash flow through effective risk management practices.
Citigroup is a financial group based in the United States that encountered several challenges over the years and serves to provide its customers with uncomplicated, innovative and dependable financial solutions. Serving the clients and stakeholders of the company is the primary objective of the group fulfilled by the organizational members (Citi Mission Statement and Principles, 2011).
This solution, in turn, is expected to bring a recommendable response which is then used to guard the interests of the diverse stakeholders of the organization. In so doing, it does not only protect the reputation of the company but also the brand and value creating activities (Hiles 2010, p110).
As the discussion stresses the relationship between risk management and business continuity, examples of business continuity and what people say about the BCM is also tackled in this paper. Most comments that arise in the use of business continuity and crisis management is that people tend to confuse its role with that of insurance companies.
According to the discussion BCM has been defined by various authors and companies in similar, but yet somewhat different ways; it should be noted that there is no single notion of BCM; each company introducing its principles them into practice, makes the notion slightly amended according to the nature of company's business performance.
The second main fraction of this report is about the Business Impact Analysis (BIA). In this analysis we will identify the critical business processes and action those are essential for the British Red Cross for the survival of an
of much general types of business continuity models, including disaster management programs (DMP) and Continuity of Operations Planning (COOP) among others. In the light of the development of the BCMS of the airport and the disaster management model, an incident/disaster refers
According to the research study the first drafting of standards occurred in the year 2006, in United Kingdom. The nation had at this time gone through massive crises and disasters. For this reason, they felt a dire need to develop standards for BCM. This paper discusses the requirements of BCM standards.
Business Continuity Management (BCM) refers to a holistic framework that organizations use to identify risks and exposures to potential internal and external threats. (Stephenson, J. 1999). According to British Standard Institute, it also includes a range of processes that organizations need to adopt in their business cultures.
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