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The Key Drivers for Business Continuity Management - Essay Example

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The aim of the paper is to discuss business continuity management and its key drivers from the viewpoint of their importance; moreover, with the increasing role of preventing risk factors in any business performance, notions of continuity management become more popular and applicable…
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The Key Drivers for Business Continuity Management
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"The Key Drivers for Business Continuity Management"

Download file to see previous pages 'Business Continuity can be seen as a bridge between Risk management and Emergency Planning; it utilizes the risk identification and management processes of formal risk management and the crisis management capabilities of emergency planning'. (Myers, 2006) This note is given by Myers (2006), and though it cannot be called one of the BCM definitions, but it gives better understanding of the terms and the area of its application. Thus Business Continuity management is aimed to work in both daily and emergency situations; according to the abovementioned citation, it becomes evident, that BCM should both work for the prevention of the critical situations (its primary aim) and for the minimization of the negative consequences for the events which have already taken place. This two-fold role is revealed no matter in which company BCM is implemented. It is difficult to implement BCM notions into the company's performance, but it is even more difficult to make BCM a part of the company's corporate culture.
Many UK organizations at present fail to implement effective plan of prevention critical incidents, which interrupt and may threaten their business activity. Disaster planning and risk management, as well as managing company's benefits is the area which is rarely addressed by the modern businesses. The principal question, which the companies ask, is 'why implement BCM notions How it will positively influence company's performance Are the minimized risks comparable to the costs involved In order to understand how important BCM is for the modern companies, it is interesting to look into the 2006 BCM survey which gives the principal lacks (problems) faced by the companies and thus give the reader basic understanding of...
As the report highlights business continuity Management, or BCM, as it is more commonly known, is a business organization-driven activity that is concerned with developing the organization's ability to continue providing critical services (or business processes) in the event of an interruption.From this paper it is clear that Business Continuity management is aimed to work in both daily and emergency situations; according to the abovementioned citation, it becomes evident, that BCM should both work for the prevention of the critical situations (its primary aim) and for the minimization of the negative consequences for the events which have already taken place. This two-fold role is revealed no matter in which company BCM is implemented. It is difficult to implement BCM notions into the company's performance, but it is even more difficult to make BCM a part of the company's corporate culture. Many UK organizations at present fail to implement effective plan of prevention critical incidents, which interrupt and may threaten their business activity. Disaster planning and risk management, as well as managing company's benefits is the area which is rarely addressed by the modern businesses. The present economy can be characterized as being digital networked economy, which actually has no clear boundaries and thus is more vulnerable to various undesirable invasions (either computer and Internet viruses, or financial frauds). ...Download file to see next pagesRead More
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