The Business Case for Business Resilience Presentation (BRIT Part 5/22)
The Business Case for Business Resilience
In recent years, business’s have increasingly focused on their ability to respond to crises.
However, business’s often struggle to priorities and allocate resources to building resilience, given the difficulty of demonstrating progress or success.
This is partly because emergency management and business continuity programs have to compete for resources, against profit-driven activities for which there are metrics for evaluating whether they have produced financial growth or not.
Resilience however, focuses on social and cultural factors within business’s, which are more difficult to measure and to link to financial outcomes.
About Organizational Resilience
One example would be the difficulty of quantifying how the cost of running an emergency exercise affects an business’s resilience and their bottom line. Business’s must be able to demonstrate progress towards becoming more resilient by quantifying improvements in their resilience, and tracking changes in that measurement over time.
Building the business case for improved continuity and resiliency efforts has been difficult.
Each business continuity specialist answered detailed questions about the types of failures their organization experiences and the causes of these failures. Their responses, featured in this analysis report, can give you the benchmark data you need to add depth and breadth to your existing IT risk management strategy, demonstrate the business importance of IT continuity and resiliency and, ultimately, build the business case that can help justify the budget and resources you need for success.
The business case for improved continuity and resiliency is built upon one proven truth—that continuity and resiliency efforts have a business value that go far beyond the back office and affect everything from employee productivity to corporate and brand image. It makes good financial sense, then, to invest in designing robust continuity and resiliency protections into IT systems up-front, rather than paying to mitigate and correct failures when they happen.
There has been a major shift in the focus of business continuity and resiliency efforts in the past few years. No longer is the focus on disaster recovery and reacting to problems quickly. Now, disaster recovery is just one part of the larger continuity and resiliency picture, and the focus has shifted from reactive to preventive.
We at ThinkGRC are committed to providing services with regard to both Risk Management and Business Resilience.
Now more than ever is the time that businesses must begin to focus and commit resources to these two key areas.
Let us at ThinkGRC help to align your business on the path to mitigation of risks and the evaluation of you business resilience posture and resilience score. We can help prepare your business for the unknown challenges ahead.
We’d like to end with a quote from Paige A Poore, Director, Worldwide IBM Business Continuity:
“Business continuity today is all about continuous availability and proactive techniques to protect that availability, no matter what happens.”
—Paige A Poore, Director, Worldwide IBM Business Continuity