Robust business continuity management is crucial for resilience, according to M Brian Reid, MSIA, MA, MBA, CEO of Brison LLC.
The tumultuous business environment of today requires leading-edge resilience strategies.
The threat of climate change, political instability and the rate of change of technological advancement are just some of the factors changing the landscape in which we live and operate.
This unpredictable landscape can affect supply chains and disrupt operations.
Organizations therefore need to continuously evolve their resiliency programs so that they can develop a more robust enterprise that can quickly adapt and thrive in uncertain environments.
This article discusses seven success pillars that successful programs use to move your program from business continuity compliance to achieving resilience.
Enabling a cultural shift within an organization begins with leadership commitment.
Leaders must champion resilience as a core organizational objective, setting the tone from the top.
Also, by engaging employees, leaders can encourage buy-in to the changes required from a program designed to improve resiliency.
Resilience is strengthened by involving employees in planning and exercising and empowering them to take ownership of their roles in maintaining and supporting business continuity.
An often-overlooked component of molding a new culture is engaging relevant training and awareness programs.
Training should focus on the implementation of resilience principles, risk awareness, crisis management and response procedures.
Training programs based on the ISO 22301 standard are very effective and relevant here.
The first step in the risk management process is risk identification and risk assessment.
After identifying potential risks that can affect an organization, we should determine the likelihood and impacts of identified risks.
By regularly assessing and updating its risk profiles, an organization can take into account both internal and external threats.
Risk evaluation and treatment are of critical importance here.
Risk treatment includes risk avoidance, risk acceptance, risk reduction and risk transfer which utilizes measures such as insurance.
An organization should also conduct a business impact analysis (BIA) to identify critical business processes and important indicators such as recovery time objectives (RTOs) and the maximum tolerable period of disruption (MTPD).
Organizations should design processes that can be easily adapted or reconfigured in the event a response is needed to rapidly changing circumstances.
Also, by building redundancy into critical systems and processes and diversifying suppliers and resources to reduce critical dependencies, an organization can reduce the impact of single points of failure.
The establishment of clear decision-making frameworks and the ability to empower employees to make on-the-spot decisions during a crisis greatly reduces response time.
Integral to the process of improving supply chain resilience is the conduct of a supplier risk assessment.
No program to improve supply chain resilience would be complete without key steps to reduce reliance on single-source suppliers and explore alternative sourcing options.
Furthermore, organizations should foster close collaboration and communication with suppliers to ensure visibility and constant coordination during disruptive events.
Technology is a key enabler to business and therefore can be used to improve overall resilience.
However, an over-reliance on technology can indeed be detrimental during a major disruption.
That being said, utilizing tools such as cloud-based solutions for data backup, disaster recovery and remote access to critical applications can prove to be a game changer for resilience.
Another powerful tool to improve resilience is data analytics which can be used to identify patterns, predict potential disruptions and optimize response strategies.
Additionally, the use of AI can be a force multiplier.
Although it has been around for some time and used for advanced tasks, AI is now in the hands of big businesses and small businesses alike.
It is by no means perfect, as those who have used it extensively can attest, but it can be used with assessments and planning to achieve success.
With all the benefits technology brings, technological infrastructure is increasingly susceptible to cybersecurity risks and exploited threats can significantly impact business continuity.
So, as you continue to rely on advances in technology, remember to conduct an assessment of your cybersecurity risk.
Using a maturity model approach can help with continuous improvement.
Regular testing of business continuity and resilience plans to identify weaknesses and areas for improvement is essential.
As an example, after a disruption, conduct thorough post-incident reviews to capture lessons learned and incorporate them into future planning.
For best results, the practice of continuous improvement should be embedded in the general culture of an organization.
Having consulted with large global organizations and witnessing the maturity of their resilience programs, I can conclusively state that working with other similarly focused units to create centers of excellence would enhance efficiency and effectiveness within an organization.
An example of how units can work together is by bringing together security management and business continuity management.
There is already a nexus taking place between physical and cybersecurity in many organizations.
In conclusion, upgrading an enterprise business continuity program to achieve resilience requires a multi-pronged approach.
In the face of increasing uncertainty and disruption, resilience is no longer a luxury but a necessity.
Organizations that invest in resilience will be better equipped to navigate the challenges of the future, protect the interests of their stakeholders and emerge stronger from adversity.
This article was originally published in the July edition of Security Journal Americas. To read your FREE digital edition, click here.