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Business Continuity Management Experts
Ask your peers and stop reinventing the business continuity management wheel. Don’t try to solve problems that have already been solved.
Business Opportunity Can Arise From Disasters
A catastrophic risk event can create opportunity for business growth.
If your business was to suffer a major risk event like a fire or serious flood, this gives you the opportunity to bring forward plans you have for modernisation. It could allow you to introduce business change earlier than planned. You could benefit from the major incident in the long-term with new up to date factory equipment or systems of working. Your building layout could be re-arranged to make the production process flow faster and more efficiently. You could even relocate your business to a new site that is more conducive to meeting the needs of your customers. Whilst nobody is wishing they have a fire, if you have one you should take advantage of that opportunity for faster business growth in future.
“What is a famine for one business could be a feast for another“
A disaster for one business could be the opportunity another business could use to massively increase business growth. It is difficult to plan for a major disastrous event but business continuity management provides that opportunity to think of the bigger picture in terms of maximising opportunities not just mitigating the downside of the catastrophe. For example, Ashtead plant hire have received a massive boost to turnover and overall business value due to the storms and hurricanes in America. People and businesses dealing with the aftermath of hurricanes and storms needed plant and equipment. Ashtead’s core business is hiring out plant and equipment to businesses and people. Ashtead’s turnover and share price has risen on the back of the disasters that befell others. Ashtead didn’t want people to suffer major losses due to storms and hurricanes in USA but their business model has benefited massively from it. Thinking the bigger picture means thinking about how the business can take advantage of all opportunities not just those from normal operating conditions.
Note : Ashtead Group moved £200 million worth of plant and equipment into the affected areas damaged by hurricanes Harvey and Irma that destroyed many parts of Texas and Florida. The people and businesses needed such plant and equipment so Ashtead were providing a valuable service. However, this seizing of the opportunity by moving more assets into the affected areas has contributed to particularly strong trading in the last six months. The exact benefit of the hurricanes is difficult to quantify especially as Ashtead’s own assets were damaged in the hurricanes, but there was substantial increased demand for Ashtead’s equipment and most probably at higher hire rates.
— Risk Management (@HolisticRiskMgt) June 16, 2017
Business Continuity Management Magazine
What’s the latest news and opinions about good and bad business continuity management? Want to have your say? Have you design a great new product or service to help enterprise leaders? What standard are you working to?
Many people have good tips to stop you falling down the same hole they did and are happy to share ideas, knowledge and experiences.
Others want to promote and market their business offering, to ensure more people know where to go for a solution to their problem.
5th March 2018 – UK Water Shortage After Big Thaw Affects UK Big Businesses
Following major disruption to UK industry from heavy snow, some UK businesses were further impacted by loss of water due to thawing burst pipes.
Jaguar Land Rover JLR stopped production at its Solihull plant which employs 10,000 people.
Cadbury had only limited water left to supply its manufacturing of chocolate, but manufacturing was continuing at sufficient levels to maintain demand for chocolate orders.
Many homes lost water supply and water companies prioritise households and vulnerable customers like hospitals, and therefore water supply firms had to work with major businesses who use a lot of water to manage the water businesses can get. In other words, big businesses got less water and some had to stop or reduce operations.
Feature On Grenfell Tower Fire Incident Management and Recovery
If you believe enterprise continuity management planning is a waste of your time and resources take a look at the aftermath of the Grenfell Tower fire in which scores of people lost their lives and many more lost their homes.
The Chief Executive Officer (CEO) of Kensington and Chelsea Council, a Conservative led council, was forced to resign his position after the council was condemned for it’s response to the fire. Note, the cause of the fire is not yet known, but what is clear is that the council suffered a communication failure after the Grenfell fire and good business continuity plans and management are all about maintaining good external and internal communication regardless of the disastrous event the befalls an organisation. Nicholas Holgate, the chief executive of Kensington and Chelsea council ays he was asked to step down by Communities Secretary Sajid Javid.
Whether it’s fair for the chief executive officer in the private or public sector to go after a disaster may not always be obvious, but what is clear is that they can and do leave their employment as a result of disasters and failure to manage events following disasters.
The opposite is also true. Those that manage disastrous events well are often praised for their management skills and their careers blossom.
— Risk Manager (@ERMuk) September 18, 2017
— Risk Manager (@ERMuk) June 22, 2017
“Actually reduce your business uncertainty with a more effective business continuity management plan instead of wasting your time and money figuring your BCM plan out on your own”
— Risk Manager (@ERMuk) May 30, 2017
What is working and what is not in the world of business continuity management?
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