As a Director, it is a daily challenge to anticipate potential risks that may negatively impact the business. These leaders are accountable for making important decisions to maintain the survival and growth of the company.
It is however not uncommon for directors to lack formal training, even if they are highly intelligent. This can result in poor decision making and, in some instances, the failure of the company.
One of the biggest challenges that directors face is recognising the existence of a risk in the first place. This can lead to a lack of proactive measures and an over-reliance on autopilot processes. The company may continue to grow without issue until a major disruption occurs, much like the Christmas turkey, the company grows week-on-week, until that fateful day in December.
The events of 11th September 2001 serve as a prime example of the importance of Business Continuity planning. Earlier that year, a director at the Deutsche Bank offices in New York conducted a Business Continuity / Disaster Recovery exercise, imagining the scenario of a neighbouring building collapsing onto their own. Unfortunately, this scenario became a reality as part of one of the Twin Towers tore a gash down the side of the Deutsche Bank building.
Some refer to Covid-19 as a Black Swan (Opens a new window). It would however be more accurately described as a Grey Rhino (Opens a new window).
An overview of the importance of Continuity Management and its role in protecting an organisation from potential disruptions.
How to identify, assess, and prioritise potential risks to the organisation and its operations.
The "ridiculous" scenarios that have happened.
When you think things are Obvious, but Reality is Chaos.
How to conduct a business impact analysis to understand the potential consequences of disruptions to the organisation and its operations.
How to develop and implement continuity plans and strategies to mitigate the impact of disruptions.
What your insurance policy (probably) does not cover.
How to respond to and recover from disruptions, including how to activate continuity plans and procedures.
How to effectively communicate with stakeholders during disruptions, including how to provide accurate and timely information.
How to train and test the organisation's continuity plans and procedures to ensure they are effective and efficient.
How to monitor, evaluate and improve the continuity management program of the organization.