Download Business Continuity Management: How To Protect Your Company by Gallagher Michael PDF

By Gallagher Michael

Company continuity administration (BCM) has turn into a sizzling subject lately and extra considerably, in contemporary months (September eleven, foot and mouth and flooding). besides the fact that, BCM isn't just approximately restoration from a catastrophe such one as a result of fireplace or flood or the failure of IT structures. it will possibly even be concerning the cave in of a key provider or client, approximately fraud, unethical operations and approximately popularity administration. contemporary surveys have proven that almost all businesses nonetheless wouldn't have enterprise continuity plans and of these that experience plans, many have by no means been validated or exercised. consequently, company governance, regulatory, coverage, audit and common enterprise specifications are actually emphasising the significance of strong hazard administration and BCM practices in each service provider. this day, it can be crucial that board individuals and senior executives comprehend the character and scope of BCM. they should be capable of overview and improve the prestige of the task inside their agencies. This briefing examines the character of BCM and appears at its courting with different actions resembling possibility administration, coverage and the emergency prone.

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It exemplified the three Cs of the right response – concern, compassion and commitment. In reputation surveys, Johnson & Johnson continues to feature prominently at the top of the list. Compare that with the total mishandling of the Ford/Firestone tyre problem in the summer of 2000. In some cases, brands may be the most valuable of a corporation’s assets. They must be protected and BCM has a role in that protection. 2 Ford/Firestone tyre recall In mid-2000 problems were identified with certain types of Firestone tyres, and in particular their use on Ford’s top-selling, and highly profitable, Explorer SUV (sports-utility vehicle).

Consult with all relevant parties, including external advisers, to get an initial estimate of the extent of the damage, the likely timescale to recover operations, and the cost. ■ Identify the immediate measures required to resume operations. ■ Maintain safety and security of the site. ■ Plan for the repair and restoration work. ■ Request authorization from the insurer before proceeding with any significant repair work or any major purchases. The whole process will be helped considerably by keeping detailed records and maintaining a close and trusted working relationship with the insurance providers from the start.

In 2001 the complicated off-balance-sheet transactions became a cause of concern to financial analysts. The dotcom bubble was bursting and there were troubles for the global telecommunications industry. Enron’s share price started to tumble. 13 Business Continuity Management In November 2001 Enron restated its earnings for the years 1997 to 2001. It admitted that ‘certain off-balance-sheet entities should have been included in Enron’s consolidated financial statements’. Including them meant that its declared debt burden increased by hundreds of millions of dollars.

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