Business organisations depend on the continuity of their business operations to meet customer expectations, financial obligations, business objectives and to achieve regulatory compliance.
Unplanned interruptions from disasters or crisis events can result in serious financial liquidity problems, increased operating costs, loss of stock value and erosion of competitive market share, if not promptly remedied. For many businesses, failing to plan for such contingencies means they are unlikely to survive.
- A serious crisis or disaster can irrevocably impair or destroy even the largest company.
- Over 40% of companies hit by a serious crisis or disaster never resume operations.
- Of those that do, another 30% fail within two years.
As a crisis could occur as a result of one of a number of causes, it is necessary to plan for all possible eventualities. Plans for every plausible contingency should be prepared:
- People - Employees, key managers, business partners and the public
- Physical Property - Inventory, land, real and personal property
- Operations - Supply and distribution channels including utilities, vendors and contracts
- Information - Records, data, media, systems and telecommunications
- Intellectual Property - Research, trade secrets, patents, copyrights, unique skills, trademarks
- Financial - Cash flow, financial instruments, investments, credit lines, stock price and adverse forecasts
- Reputation - Public image/perception, market position, brand recognition and adverse publicity
By working with the organisation, LBi will ensure a comprehensive and cost efficient service that encompasses every aspect of risk that could face the business. By making the contingencies and security fit the business, it will ensure a minimum disruption to the work culture and maximise the ability for the business to protect itself.
- Organisational Analysis Structure, Function and Capabilities
- Threat Assessment / Risk Analysis Recommendations and Implementation priorities
- Crisis Management Team Training Employee awareness
- Implement Strategies Security measures, Contingency plans
- Exercise and Evaluation Practice plans at different levels
- Reviews and Updates Amendments, Training and Future assessments
Having a current and workable plan in place will not only better prepare an organisation, but also provide evidence of its proactive approach to its responsibilities to its investors, shareholders, customers, employees, regulators and the media.
'Once a crisis hits, it's too late to plan for it'
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