Business Continuity Management
Business continuity management (BCM) is a framework for identifying a company or organisation’s potential threats, what effects those threats may cause, and building fortifications against those threats.
Detailed Explanation
Business continuity management is a holistic management process that is a part of mitigation, preparedness, response and recovery. It aims to identify a business’s potential threats, such as natural disasters or data breaches. Then, it aims to understand how these threats will impact a business’s operation. Finally, it builds systems to protect against these threats, while safeguarding the interests of key stakeholders.
Key Components of Business Continuity Management
BCM involves several different disciplines related to preparedness emergency management, including:
- Emergency ResponseProtocols put in place to immediately respond to emergencies. This may include crisis communication, or having protocols in place such as first aid training and evacuation plans. In emergency notification activation and response is critical.
- Crisis ManagementSystems that are meant to respond to and manage a crisis once it has already taken place. This often involves having a system of communication to make sure everyone is on the same page. It also involves having procedures for dealing with different types of crises.
- Disaster RecoveryDisaster Recovery is a company’s method of regaining access to compromised resources after a disaster. This is usually used in reference to IT disasters, where important data is at risk.
- Business ContinuityThis refers to any kind of system a company has in place to ensure the continuity of a business even after a disaster takes place. Response and recovery plans are necessary to do this effectively.
Proper BCM will cover everything from relocating operations, recovering data in the event of a technological disaster, managing PR surrounding a disaster, and more.
Why Is This Important?
BCM can provide benefits of emergency preparedness to your business. Business Continuity Management can also help with regulations and legal compliance. It also strengthens a business against minor impacts, such as disruptions in supply. Finally, Business Continuity Management aids with receiving insurance coverage, as it proves a business was adequately prepared for a disaster.