03 May COVID-19 CRISIS – WE NEED A BUSINESS CONTINUITY PLAN TO KEEP BUSINESS RUNNING AND PROTECT WHAT MATTERS
The global health crisis of Covid-19 had caused severe economic consequences across the globe at a speed and magnitude that we have not experience in our lifetime. This pandemic caused businesses to suffer interruption, threatening survival and drastically faced financial and operational challenges.
Many businesses have come to an end but some have the ability to mitigate the impact of this pandemic by activating their business continuity plans and build resilience to adapt their businesses for a changing landscape. As such, companies need to adopt a management system suitable to make them resilient to one of these kinds of disruptive events.
ISO 22301:2019 is the international standard for Business Continuity Management System (BCMS) that provides a robust framework with key tools and strategies to keep your business running in any situation by prioritising the threats and build resilience during uncertain time.
Covid-19 pandemic threats future lock-down on businesses, adverse consequences if contracts were breached due to uncontrolled circumstances, the risk of getting penalties for non-compliance with mandatory rules and inefficiency can cause negative effects on the company’s performance that may lead to closure.
Before, this ISO 22301:2019 standard mainly applied to counter consequences from natural disaster such as floods and earthquakes, however from now on companies have to take into account of this new health pandemic crisis. This biological risk could no longer be considered as an unforeseen event but an event that may likely happen again.
BCMS aims to offer companies an integrated solution to cope with existing challenges in adapting appropriate measures to avoid its consequences while responsive to the vulnerability of future biological emergencies to ensure business continuity and resilience to protect what matters most; the companies and their future.
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