Building Business Resilience
Whether it is cyber-attacks or climate change, your business needs in-built resilience to manage the challenges it faces.
Resilience Against Risks and Crises
In today’s highly technological, interconnected, and volatile world, organisations need to address threats from many internal and external sources. Identify the most important risks and threats to your business to overcome them.
What does Organisational Resilience Cover?
From risk monitoring and response planning to disaster recovery plans, organisations should consider resilience planning as an investment. By developing resilience throughout the supply chain, production and sales network, you can ensure your business can cope with unexpected disruptive events and continue to serve its customers. Protect brand reputation and customer experience by dealing with crises proactively and effectively. Plan your business resilience with each of the following aspects.
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Enhance Your Business Continuity Management
Business continuity management enables you to plan for any major disruption, so that your organisation has contingency plans in place and a pre-defined strategy to keep your business afloat. By identifying key risks that may affect your mission-critical operations – information, inventory, personnel, and premises – you can make contingency plans to maintain business processes. By planning now, companies can get business back to normal business operations early, quickly, and efficiently – thereby minimising potential impacts and protecting investment.
Deal with Emergencies Successfully
Having a pre-defined plan for emergencies helps in overcoming critical situations and business recovery. By their very nature, critical incidents are volatile – they can escalate rapidly and be difficult to contain. Emergency management implements key initial plans to stop any incident from becoming a crisis. Reports state that 9 out of 10 companies who use dedicated tools and software for emergency management can activate their plans in less than an hour.
From alerting all key responders to mobilising required teams, enhance your emergency response plan by communicating faster and in an efficient manner.
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Analyse and Mitigate Your Risks
Risk management is an important part of any business resilience strategy. Every organisation functions in a different way and as such their risk management requirements are different. Based on your corporate risk profile, you should implement risk management procedures unique to your organisation. A risk management software can help you centralise risk management tasks. Whether it is monitoring risks or documenting them, analyse and report your risk exposure to all stakeholders with a risk management solution to mitigate them.
Emergency Planning
Emergency planning is a dynamic process. It needs to be updated constantly to keep up with the ever-changing nature of organisational risks. Which is why stress testing your emergency planning is extremely important. Emergency exercises are the best way to understand the efficacy of your emergency plan and stay prepared for real emergencies. Protect lives and provide care in the hours of need by integrating an emergency planning solution within your systems.
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How can F24 Contribute to Your Business Resilience?
F24 has a range of SaaS solutions that support business resilience. Our enterprise software solutions include amongst others real-time monitoring, alerting, messaging and documentation to support your business during the whole value chain in order to prepare, respond and recover successfully. Talk to F24 about how we can help you in becoming a resilient business.
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Business Resilience – the Secret of All Successful Businesses
Resilience is crucial for sustainable business success. By stress-testing resilience plans, you can ensure effective business continuity, compliance with safeguarding regulations for staff, clients, and on-site visitors, and build confidence with investors and stakeholders. What’s more, any investment in resilience capabilities will give you a competitive advantage over others in the sector, particularly when a crisis hits.
How to Become a Resilient Organisation?
Business Impact Analysis and Threat and Risk Analysis can help to quantify these threats so their severity can be determined. The assessments should identify business critical processes and resources (production lines, service provision, raw materials or components, key suppliers, call centre locations) and estimate any potential operational, reputational and financial losses (loss of sales, increased expenses, regulatory fines, consumer dissatisfaction) if they were unavailable.
By knowing what could potentially go wrong, you can develop response and continuity plans to ensure your business can continue to trade. These solutions all contribute to building resilience within the company that can be tested, practiced, and refined, thereby ensuring that any response to a crisis is proactive and coordinated.
The importance of a business resilience plan for every organisation cannot be emphasised enough. As all business processes must be included in the plan, the whole process of building operational resilience into a business may appear daunting. However, with appropriate support from management and involvement from relevant decision-makers and department managers, crisis management plans can be easily defined.