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Business Continuity Management Definition

In order to counter threats and other disruptions in an organization, maintaining business continuity has gained immense popularity across worldwide as the frequency of incidents relating to both internal and external threat increases within an independent world. Business Continuity Management (BCM) is an approach that identifies potential threats and provides a framework for resilience and capability for an effective response that protects the interest of the business and its stakeholders. Earlier, "disaster recovery" was usually centered around data processing and information technology (IT) departments.

The rising importance of BCM  have created internal debates on who owns the BCM function and how the existing risk management of a company is related to BCM. Risk management focuses on pre-event responses to perceive risk while BCM focuses on the processes that need to take place after an event or disaster occurs. However, they both have the same purpose which is to prevent any significant impact on the enterprise whilst ensuring business continuance.

BCM is important because it looks beyond the threat perspective, it takes into account what will be required for the smooth functioning along with its stakeholders working and contributing to the company’s revenue in the long run. BCM is not only protecting its assets, but it is effectively investing in the future and it benefits an organization by enhancing the service offering by positioning the business exceptionally well.

Failure of BCM concerns the workers and even the management as a number of people will experience personal disaster when operations cease, as well as the government and the economy.  Hence, the implementation of a proper incident command system is vital to identify a potential threat and plan accordingly in order to avoid suspension of critical financial operations.

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