With disruptive events becoming more common and varied, having a Business Continuity Management (BCM) strategy is a critical issue for modern companies, and most have some form of a plan in place. However, these plans are predominantly reactive in nature, seeking to respond only to the disaster, rather than to allow for growth afterward.
To address this gap, Forbes India contributor Rajeev Thykatt offers the following recommendations:
•Ensure involvement and commitments from upper management.
•Enforce integration between risk assessment and business impact determination activities.
•Incorporate the resilience factor in plans and strategies.
•Review supply chain and sub-contractor relationships and integration.
•Establish measurements and metrics for BCM capability.
