Reason Mag Q1 2014 Seite 19

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What is the real strategic value of business continu ity management Many organizations particularly at the operational level view business continuity as a potential roadblock as a competitive disadvantage Some corporations see the need to plan for alternative opera tional capabilities in the event of a disruption as nothing more than expensive overhead something that diminishes resources and punches holes in shareholder value But by developing a risk focused understanding of business FM Global believes that business continuity objectives can and do align with a company s strategic goals The Importance of Being Strategic Business resilience and operational efficiency are not mutually exclusive objectives At FM Global the Business Risk Consult ing team BRC is committed to helping clients continuity plans remain strategic The unit conducts business impact analyses BIAs which in part develop a critical understanding of how products and services ow through a business how much pro t is generated and how sensitive or reactive markets would be if those products or ser vices weren t delivered Business resilience Businesses exist to deliver products and ser vices to markets in order to generate value for stakeholders The effective delivery of these products and services is enabled by a number of processes people activities assets functions and suppliers both inside and outside the organization Within every business certain products and services are considered critical to continuing success because they generate a large proportion of value for the business or they may do so in the future in other words they drive the achievement of the strategic objectives of the business It follows that the processes that enable their delivery will themselves be con sidered critical to the business because their failure could potentially stop the delivery of products and services resulting in a reduc tion in the value generated for stakeholders Therefore a business must be suf ciently exible to withstand the failure of one or more critical processes and maintain the timely delivery of strategically impor tant products and services The ultimate goal is to internalize business continuity to the extent that strategic decisions such as the development of new products ser vices and markets take into account the resilience of critical enabling processes from the outset The following case study ISSUE 1 2014 Reason 19 the IDEA