The Next Big Thing
Posts about next generation technologies and their effect on business.

The shifting world of business continuity

disaster2.pngI was in an exchange this week with an individual talking about business continuity. The view that business continuity needs to focus on:

An organizations business continuity approach need to be reassessed in a world of high levels of automation, contracting for services and reduced latency. The very definition of foundational terms like ‘work location’, ‘services’ and ‘support’ are changing. Diversity of perspective is likely to be a critical component of any kind of timely, situation response.

 

“The management of business continuity falls largely within the sphere of risk management, with some cross-over into related fields such as governance, information security and compliance. Risk is a core consideration since business continuity is primarily concerned with those business functions, operations, supplies, systems, relationships etc. that are critically important to achieve the organization's operational objectives. Business Impact Analysis is the generally accepted risk management term for the process of determining the relative importance or criticality of those elements, and in turn drives the priorities, planning, preparations and other business continuity management activities.”

 

In today’s environment, business impact analysis is becoming ever more technical and the interconnection between environmental factors more complex. We have seen situations recently with program trading that an entire financial institution has been placed at risk when their automated trading responds in an unforeseen fashion or their governance breaks down. We’ll be seeing similar techniques applied throughout organizational processes.

 

The response to almost any situation can be enabled by techniques like VOIP and other approaches that allow additional levels of abstraction. Simulations can be used to understand the implications of various scenarios as part of business continuity planning.

 

As I mentioned back in March:

Having an effective, robust approach to business continuity is part of management, security and many other roles within an organization.  It is important to remember that there is a cost for being unable to respond to an incident.

Comments
Vasudevan Alasingachar(anon) | ‎07-18-2014 06:49 AM

While the cost of not attending to  incidences that deplete the growth, why is it difficult to measure in advance the value of the opportunity lost in not responding ? 

Sometimes in the Indian context where tolernce, resilience is natural in the rural illiterate psyche because of their innocence and ignorance; recovery is instittuinalised through festivals and seasonal rituals that brings hope and cheer when the celeberation goes on. 

Contingency is the cretive element of management process. The allergy to ambiguity and need for perfect planning many an occassion does not consider contingency as a good sign of effectiveness. The reason being the provision for contingency allows elbow room to unconsciously miss out on important steps in he algorithm for execution. 

Neverthles the current discourses on the VUCA world of business willsoon become a reality will only depend on the core competency of contingency preparedness than contingency planning. The metaphor is the simulation drill in case of fire breakout in a multistoried apartment. 

All that is referred in the aticle needs simualted practice to get the muscles cooperate with the mind when the clalamity shows up...

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