Business Resilience is a strategic objective of every organisation.
Business Continuity processes are the tools to achieve that objective
… and continued existence.
As a director, it is a daily challenge to anticipate potential risks that may negatively impact the business. These leaders are accountable for making important decisions to maintain the survival and growth of the company.
It is however not uncommon for directors to lack formal training, even if they are highly intelligent. This can result in poor decision making and, in some instances, the failure of the company.
One of the biggest challenges that directors face is recognising the existence of a risk in the first place. This can lead to a lack of proactive measures and an over-reliance on autopilot processes. The company may continue to grow without issue until a major disruption occurs, much like the Christmas turkey, the company grows week-on-week, until that fateful day in December.
The events of 11th September 2001 serve as a prime example of the importance of Business Continuity planning. Earlier that year, a director at the Deutsche Bank offices in New York conducted a Business Continuity / Disaster Recovery exercise, imagining the scenario of a neighbouring building collapsing onto their own. Unfortunately, this scenario became a reality as part of one of the Twin Towers tore a gash down the side of the Deutsche Bank building.
Some refer to Covid-19 as a Black Swan (Opens a new window). It would however be more accurately described as a Grey Rhino (Opens a new window).
