Business Continuity Explained Step-By-Step
ISO 22301 is one of the best ways for organisations to prepare their disaster recovery plans and business continuity plans in the wake of an existential crisis. It will give you the building blocks for your crisis management plan, which will help you minimise the damage of a disaster internally, in your supply chain or in your financials. The next few weeks and months are set to present a range of challenges to businesses worldwide, so let's talk about how organisations can better protect their organisation and its employees as it navigates a particularly challenging time in human history.
We recently published an hour-long webinar on the topic, which we encourage you to check out, with Best Practice Group CEO, Kobi Simmat talking you through each step of the standard and putting it into modern day context.
The standard was revised last year, and it sets out the framework for building a business continuity system, which is particularly relevant in times like this. With recent updates, the standard is more relevant and effective than ever, with a simple purpose: to prepare for, provide and maintain controls and capabilities for managing an organisation’s overall ability to continue to operate during disruptions.
Some of the most important aspect of the standard is to:
Support strategic objectives
Create a competitive advantage
Protecting and enhancing reputation and credibility
Contributing to organisational resilience
Reducing legal and financial exposure
Reducing direct and indirect costs of disruptions
Maintain customer and supply chain expectations
Improving your ability to remain effective and relevant during a disruption
Demonstrating proactive control of risks
Addressing organisational vulnerabilities
One of the ways you and your team can make this as adaptable, effective and timely as possible is to accelerate your management reviews from a quarterly basis to at the very least, a fortnightly, weekly or ideally semi-daily series of updates. The shorter you make this time frame, your business gains from being agile in the face of adversity, and you can leverage the data to your advantage for on-the-fly decision making and adjustments within your operations. Despite the recent turn of events, this is still possible via video calls and sharing screens to analyse data.
The standard makes clear from the outset that the leadership team needs to be proactive in their response, both in terms of the timeliness and impact of their decision making. This is the time, as Ben Horowitz would put it, to be the wartime CEO. This means that your regular short term goals and projects need to pivot to survival mode- the rest will come in time. This should be focussed through the lens of a risk assessment; what are the hazards that could prevent themselves in the coming hours, days and weeks? What are the challenges you’ve had to face from the previous days and weeks? How could your organisation position itself to minimise the risk of these occurring again? The standard says that it’s essential to implement and maintain a systematic process for analysing business impact on a day-by-day basis, so this should remain a top priority for your management team and your boots on the ground to get a clear picture of how macroeconomic impacts are filtering down into day to day business in your organisation. You want to review your impact analysis regularly, so you can refine the shape and scope of your business continuity strategies and possible solutions.
It’s also important to communicate this to your staff, so they’re well aware of the changes to the organisation’s direction and purpose. If your management team doesn’t effectively communicate this to your staff, they’ll be lacking in the drive and direction for them to do their job properly, and you’ll build up a level of trust with your members of staff with high level communication; you don’t want to risk anyone feeling as though they’re left out in the dark. Another key concern is to make this whole process a responsibility for the organisation as a whole, and don’t make it a burden for one person to complete. As I’ve said before, it’s important to get feedback from the whole organisation, so you can more effectively shape policies that are based on first-hand knowledge of your operations and your clients; a huge responsibility, after all, during a time of crisis is to maintain the promises you’ve made to your clients- so don’t underestimate this. The more brains you can get attempting to solve a problem, the more impactful the potential solution you’ll come up with; don’t be a focus group of one!
These are just a few of the basics that we’ve covered in an hour-long webinar which you can view on youtube. I’d encourage you to send this to as many people in your organisation, as well as friends that might be facing challenges in their businesses at the moment, too.
I’m contactable via my LinkedIn account, and I’m happy to field any of your questions at any time of day.
For now, thanks for your time.
Kobi Simmat- CEO & Director of the Best Practice Group.