By following the advice in this issue from the ISO 22301 experts at AEGIS Services, the task of putting together a business contingency plan won’t seem so intimidating.
Thus, you will be proactively prepared for potential threats and know how to react quickly, if and when, they occur.
Business Contingency Plan Unique to Your Organization
A business contingency plan is essentially the course of action you plan to take on behalf of your organization to withstand an unexpected event. It’s essential to your overall business strategy as it assures your stakeholders that your organization is ready to withstand any threat or risk.
Business contingency plans are ideal for businesses and organizations of all sizes, since practically all are vulnerable to natural disasters and predatory actions by individuals with bad intentions.
How to Implement a Business Contingency Plan
The important thing to understand is that while businesses and organizations of all sizes need a business contingency plan in place, you should avoid a “cookie-cutter” approach when putting one together for your own use.
While there are templates available online, they should be avoided. Even if you’re in a heavily populated industry sector, there are threats unique to your business or organization. Therefore, it’s definitely in your best interest to take the time to develop a business contingency plan that will address all aspects of your interests. This is certainly a wise investment of time and resources.
- Define and outline how your organization will satisfy the needs of your stakeholders (partners, customers, vendors, etc.). This provides your organizations with a sense of responsibility similar to internal or external audits routinely faced by larger organizations.
- Don’t be verbose. Rather, the policy must be precise and direct so that it can be effectively implemented with little doubt or guesswork when needed.
Once you have your plan in place, it’s vital to have complete buy-in from all levels of operation, including Board members, management, and general employees.
The following suggestions will help to successfully obtain that crucial buy-in from all concerned parties:
- Identify and recruit an “executive sponsor” – someone who commands respect and authority in your organization to champion the cause.
- Detail all components of your organizations, with special attention on the external components and how they relate to your organization.
- Commit to constantly analyzing and tweaking the contingency plan as new stakeholders or business strategies are brought on board.
By developing an effective Business Continuity Plan and obtaining ISO 22301 certification, you’re assuring your stakeholders that doing business with you is a wise and safe choice – and that they can truly count on you.
For further information or to schedule a consultation please contact AEGIS Services L.L.C. at +974-4466-2120 or reach us via email.