Regardless of the size of the organisation, unforeseen incidents can have massive implications. From the loss of revenue to damaged brand reputation, the consequences can be potentially catastrophic, especially if the business is unprepared. Business continuity management (BCM) is an essential component of any business that must continue its operations in the face of a disaster. At its core, BCM is about creating and maintaining a plan that allows the business to continue business processes even if some or all its resources are lost for an extended period of time. To avert disaster and ensure business survival, it is critical to understand the full scope of risks at every level in the organisation.
Business continuity management is a process that identifies potential threats to an organisation, their impact on business operations and creating plans to mitigate these risks. These threats might cause a negative impact on the interests of its key stakeholders, reputation, brand, and value-creating activities. Business Continuity Planning provides a framework for building organisational resilience and effective response that safeguards an organisation's interests. It integrates the disciplines of emergency response, crisis management and disaster recovery to ensure business continuity.
With the implementation of data protection laws such as the European Union’s GDPR and Singapore’s PDPA, it may be required for organisations to report data breaches depending on the jurisdiction that it operates in. Also, the fines for breaches will depend in part on the effectiveness of the company's response to the breaches.
Thus, it is vital for the business continuity plan to be in sync with the organisation's breach response plan since the breach will inevitably have an impact on operations. For Data Protection Officers (DPOs), disaster preparedness and incident response are vital responsibilities.
The main aspects and good practices of a continuity plan include:
With the rapidly changing world that we live in, business continuity management is an integral part of any organisation that wants to survive through periods of change or disruption. Perhaps this is also why more countries are passing laws and regulations requiring business continuity compliance, and private businesses are increasingly requiring their suppliers and partners to implement business continuity solutions.
Learn more about business continuity management frameworks and methodologies to support business continuity compliance and build organisation resilience in the face of a disaster through our course here.
Article By: Aman Khajanchi
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official view or position of DPEX Network.
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