Business Continuity Management Needs an Overhaul

By Dennis McCafferty  |  Posted 09-09-2013 Email

It's a sign of the crisis-ridden times: Organizations today are taking a long, hard look at the way they conduct business continuity management (BCM), according to new research from PwC US. The resulting Business Continuity Insights Survey clearly demonstrates mounting concern in light of both natural and manmade disasters, not to mention cyberattacks on networks. As for what's on the to-do list? Incorporating BCM into overall risk-management strategies remains a top priority. Companies also need to do a better job of standardizing BCM policies and practices throughout all of their global locations. Interestingly enough, while reaction from members of the public on social-media outlets can deliver a "make or break" verdict on crisis response, these outlets do not play a significant BCM role for most organizations. "Some have started to delve into the social media sphere," says Phil Samson, a principal in PwC's risk-assurance practice and the firm's BCM service leader. "Yet, the majority is still hesitant about utilizing social media as a crisis management tool." An estimated 300 global executives took part in the research. To call up a Webcast about the survey, click here.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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