Business Resilience - Archer IRM
Resilience is the ability of a body or system to forestall disasters and bounce back from them. Resilience helps to get back control in the face of any sudden change and maintain a general sense of wellbeing while the disaster is remedied.
Business resilience is the ability of an organization to quickly adapt to disasters, unforeseen changes, or disruptions, maintaining business operations and safeguarding its members, stakeholders, and overall business equity.
Business resilience does not only help organizations deal with the consequences of risks (cyberattacks, natural disasters, third-party problems, etc.), it also allows organizations to adapt to new environments and working conditions effectively.
The resilience of an organization is dependent on lots of factors; individual resilience of the staff, industries, resilience of third-party organizations, societies, customers, manufactures, suppliers, etc.
The greater the resilience, the stronger the operational resiliency, which adds up to a trustworthy organization.
Business Continuity Planning (BCP)
Also known as Resiliency Planning or Business Continuity Business Continuity Planning (BCP) is the process where an organization creates prevention and recovery systems to deal with every potential threat that might arise.
These systems ensure that the organization continues to deliver products and services efficiently before, during, and after disasters.
Good business continuity planning guarantees high-level business resilience.
Four Elements of a Good Business Continuity Plan
There are four elements to creating an effective business continuity plan, and they include:
All hazards and potential threats are identified. Risks are also adequately evaluated.
All third-party organizations are contacted and given a vendor resiliency questionnaire to make sure they are ready to handle every risk that might arise. A thorough Business Impact Analysis is conducted too.
This involves training everyone involved on what things to expect and how to handle them. It also helps to simulate events of disasters for maximum efficiency.
This involves creating a response team and drilling them on response procedures and how to perform them in good time.
This involves keeping records and documents of the organization response and the organization’s response and all the damages sustained. Plans are upgraded, and new methods are created to manage the documented damages and possible ones effectively and quickly.
Benefits of Business Resilience
There are so many advantages of having a solid business resilience;
It boosts your organization’s reputation. If your business resilience is strong, your organization will be able to recover from disasters rapidly. This creates a high brand value, ensuring that you are reliable, which improves your organization’s reputation.
It builds a strong resilience culture amongst organization members. Constantly upgrading the BCP and enforcing a high level of business resilience in the workplace helps build resiliency amongst its members. It also promotes a culture of similar values and objectives.
It protects your organization’s supply chain. If you have an effective and smart business continuity plan, you have lots of plans in place for any disaster that might arise. This protects your supply chain because, in the event of any threat, business operations can continue smoothly.
It literally saves life. During the business continuity planning, your employees will undergo specific training like fire drills, evacuation drills, etc. This training will teach them how to protect themselves and others around them during events of disaster. It also helps outside the workplace.
It makes compliance with industry-standard compulsory. When you have good business resilience, it shows that you have adopted a set of business standards
It makes compliance with industry standards compulsory. When you have good business resilience, it shows that you have adopted a set of business standards that must be adhered to by everyone. If you don’t have rules and regulations already in place (especially for startups), these standards help a lot. Adhering to these standards also makes customers and potential customers have more confidence in your organization.
It greatly reduces the level of financial threats. When you have strong resiliency in your organization, you can spot risks and prevent them before they can physically happen. This helps reduce costs of maintenance and recovery operations.
Business Resilience Standards
There are three primary standards for business resilience;
International standard for a Business Community Management (ISO 22301:2012)
Security Preparedness and Continuity Management Systems (ASIS SPC.1-2009 Organizational Resilience)
Standard on Disaster/Emergency Management and Business Continuity Programs (National Fire Protection Association. 1600:2007)
Business resilience is a powerful tool that organizations have to possess to soar in the world of today. The world is changing every day, and your organization should keep up, or else it will get relegated to the background.
If you want a high level of business resiliency and training from experts that have been grandfathered in the field, you should contact Archer today.
We have a trusted body of professionals ready to help you through the journey of strengthening your organization, walking you through every step.
You can also contact us if you have inquiries on improving your organizational resilience and organization as a whole because we are the perfect business continuity solution for you.
What is business resilience?
Business resilience is the ability of an organization to quickly adapt to disruptions, maintaining business operations, and safeguarding its members, stakeholders, and overall business equity.
Are resilience planning and business continuity planning the same?
Yes. Resilience planning can also so be called business continuity planning.