As consultants in business continuity in Melbourne, we are often asked what exactly business continuity is.From our perspective, business continuity can be described as just plain old common sense. It’s about taking responsibility for your business and ensuring that it continues to trade no matter what issues arise.
Business Continuity is about building and improving the resilience of your business. The first steps require identification of your key products and services as well as the most urgent activities that underpin them. Once that analysis is complete, it is then about creating plans that will enable you to continue business operations regardless of the disruption, in addition to providing quick recovery from the issue. It gives you a solid framework to lean on in times of crisis, and provides stability and security for your business.
An extension of this is business continuity management, which can be defined as a holistic management process that identifies potential threats to an organisation. It looks at the potential impacts to your business operations if those threats are realised, and provides a framework for building organisational resilience. The framework is developed with the capability to deliver effective responses that safeguards the interests of its key stakeholders, reputation, brand and value-creating activities.
The business continuity management lifecycle shows the stages of activity that an organization moves through and repeats with the overall aim of improving organisational resilience. Starting with the identification of potential problems, working through analysis and creation of a plan, before reviewing and measuring success, the lifecycle is designed to constantly keep your business on top of any issues that might arise in the future.
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