While businesses can’t anticiapte anticipate pandemics or civil emergencies, they can alleviate their impact by implementing business resilience and continuity plans. All businesses should be undertaking such planning to ensure operations continue during any serious incident or market turmoil.
Business resilience planning starts by identifying what is critical to the business operations, including key processes, people and resources, as well as carrying out a SWOT on each aspect of the company. The plan should then assess the risk that various threats pose to these critical business elements and put in place measures to reduce, monitor or mitigate this risk. It should also set out how the business will cover the loss of impairment of any critical resources or functions.
It is important that any business continuity plan identifies who within the organisation is responsible for implementing which part of the plan, including who has responsibility for deciding when an event requires action, and how internal communications will operate in a time of crisis.
YTKO’s Business Resilience Support, most recently delivered for Bristol City Council, helps clients create well-designed and executed business resilience plans to maximise the chances that they not only survive but thrive.
All of it was really useful! Business Resilience was very thought-provoking and sections on target markets and unique buying propositions were especially useful for me.