Yesterday, we argued that business continuity management (or BCM) should be viewed positively because its benefits were so wide. We explained that this was because BCM has emerged from its origins in IT disaster recovery to look at all the risks a company faces, internal and external.
A company that assesses and prioritises these risks in a methodical way is obviously going to be much better placed to bounce back from a disaster—and we all know just how frequently they seem to occur nowadays. The fact of the matter is that because supply chains and markets are now global, a natural disaster in Japan or Iceland can affect a business in Port Elizabeth, a bank failure in Spain or Hong Kong can delay a production line in Rosslyn, and a flu pandemic in Atlantis can affect a store in Joburg.
In this way, BCM can actually improve a company’s overall governance by bringing all its financial liabilities into view—some may have been hidden from board members owing to the complexity of the business environment. BCM, in other words, enhances sustainability.
Another big benefit of BCM is the fact that it increases the confidence employees have in the company, thus contributing to employee engagement. It’s a truism of corporate jargon that “our people are our competitive edge” but it’s true nonetheless. Anything that makes employees want to stay with the company and give it their best efforts is a plus. The same is true of clients and business partners, provided that the company’s proactive BCM stance is properly communicated to them.
This type of proactive approach, too, we at ContinuitySA believe, creates a company that is generally more forward-looking—not only when it comes to risk. Such a company is also more likely to be alive to new opportunities as well. When a company really becomes BCM-savvy, it really does set itself on the path to success.