What Are The Key Principles of Business Continuity
A great organisation confronted with a crisis will take a position of strength and recognise that disruption is an opportunity to redefine systems and processes to better deal with adversity.
The crippling effect of an unexpected calamity has prompted businesses to re-assess their ability to anticipate problems and address situations which require greater insight and agility.
Whether you are tasked to create a new business continuity plan or revive one that has languished, discover what are the key considerations when formulating a winning business continuity strategy, and how a smart security system can help you weather the storm.
Any establishment should determine the specific areas of vulnerability and the potential extent of each threat. Risks are categorised based on how it can affect the following areas:
- Loss of Infrastructure
- Loss of Systems and Data
- Loss of Life
- Loss of Third Party Arrangements
Loss of infrastructure
Risk can come in the form of the loss of a physical plant, equipment, inventory, and even physical access due to natural or unnatural disasters. Even with state-of-the-art technologies to protect against man-made threats, businesses are still vulnerable to disruption due to fires, storms, and seismic events. Even lawlessness such as theft, arson, terrorism, and industrial sabotage are never completely absent. The real possibility of such events occurring makes the acquisition of a smart security system indispensable for business enterprises.
Loss of systems and data
Loss of data can be caused by systems failure, carelessness, or even foul play. In the global economy, data is no longer a mere administrative or clerical concern. For any company, having a reliable data backup system is essential to prevent extended downtime. Smart security apps such as Security Risk Manager (SRM) comprehensive suite of products are designed to address such issues.
Loss of key personnel
In some circumstances, the lost asset could come in the form of a key personnel who transferred to another organisation, retires, or passes away. In organisations originally built around the capabilities, financial robustness, talents, or even charisma of specific people, the loss of such a person may have a negative impact on the company unless some means of succession planning is in place.
Loss of third party arrangements
In other instances, the lost asset might be a valuable working arrangement with a third party such as a trusted supplier, a marketing channel, or a business outsourcing service for human resources or information technology. Partner organisations can shut down operations in times of crisis.
Plan for effects
A forward-looking business continuity plan can only be designed after making a thorough analysis of the abovementioned risks.
One must be able to assess the likelihood of their occurrence, and the costs and benefits of establishing measures or systems to prevent or mitigate such losses.
Is the threat of a terror attack imminent enough to justify the expense of engaging military grade security services and building protective infrastructure? Or does a business enterprise need to invest in high-end data security systems with multiple firewalls, back-ups, and a smart security app to protect its valuable business information?
Determining the potential impact of each possible threat on the business helps managers prioritise areas that are potentially more critical and work out an accurate cost-benefit analysis.
By pinpointing the processes or assets that would be affected by these possible catastrophes, managers can proceed to chart out recovery point objectives (RPOs) for each area. They can also plot corresponding recovery time objectives (RTOs) when putting together the business recovery plan.
Harnessing smart tools
In this day and age, the need to equip a business enterprise with updated security management software to operate a smart security system is imperative.
- Maintain a secure database
Restrictions on mobility presents a challenge from a security standpoint. Vetting incidents across several work sites becomes difficult when there is no singular secure platform which can record, retrieve and track accountability. Managers can gain the ‘paper trail’ advantage with SRM-Portal which enables real-time operations monitoring and reporting.
- Mitigate risk
Risks cannot always be avoided, but the ramifications of the threats can be reduced. Preventing an immediate risk from escalating requires foresight and a system to speed up response. Your guards on patrol can bank on a mobile smart security system tool like SRM-Responder to quickly send distress calls as well as track movement of personnel as the emergency progresses. As a reliable tool, it is designed to capture and save incident reports even on basic phones with no connectivity, mitigating against data loss.
- Boost workforce capability
Your business’ security investment is only as good as the people who employ it. When you harness smart technology to safeguard your workforce, be sure to reinforce it with appropriate training so they can use the tools properly and understand how it contributes to the overall objectives of business continuity.
The importance of leadership
As smart security systems get to liberate security managers from doing day-to-day repetitive tasks, it fosters more opportunities to demonstrate decisiveness, objective judgment and tackle work which require deeper strategy and greater collaboration.
Technology also empowers security managers to effectively supervise operations even at a distance, which becomes valuable when an organisation needs to weather a protracted crisis. Under such circumstances, managers and personnel become prone to physical and mental burnout. With a modern security system, you can significantly enhance communication and operational visibility and reduce the risk for decision-fatigue and loss of confidence.
Each organisation has its unique issues and challenges when faced with varying crises. Managers and business owners must work with a mindset of flexibility. Taking an adaptive approach in developing and operationalising a business continuity plan will enable your company to weather any storm.
Do not leave the future of your security company to chance. Make Security Risk a part of your business continuity plan.