Political Influence on Business .....have you been affect?

I write further to our blog of 6 March and 9 May highlighting how political impact on business is one of the top ten worries of companies.  With the current tensions between Qatar and other GCC states including Egypt, this is bound to have many International and GCC companies that have previously enjoyed free passage and trade with Qatar scrabbling for clarifications.  They will have staff of differing nationalities working in Qatar who may be impacted directly in a move that apparently bans Saudi, UAE and Bahraini Citizens from travelling to, living there or passing through it.  People affected have 14 days to leave.  Egypt are reported to have 180,000 citizens living and working in Qatar.  

Cyber security is everyone's responsibility ...Business Continuity Institute

The BCI has released a 'Building Resilience by improving cyber security" report for Business Continuity Awareness week which was the 15-19 May 2017.  Please see the link to this report.

http://www.bcifiles.com/BCIBCAWReport.pdf

as well as a short info video

How is Business Continuity Impacted by Political Change

Global political changes in 2016 and 2017 have had an impact on businesses worldwide. The world has become a smaller place and the ripple effect of political behaviour impacts global economy and businesses in differing ways. 

"Political decisions can affect three main areas including society and culture, the economy and advancement of the country in terms of technology and the adoption of it. Any of these changes can be unexpected and are less predictable factors that affect businesses extensively. An unstable political system can affect other cores of a business including".........read more 

https://www.sire.co.uk/blog/what-is-the-business-continuity-impact-of-political-change

Other  articles of interest:-

http://edition.cnn.com/2016/12/30/politics/donald-trump-politics-2017/

http://www.hindustantimes.com/world-news/rise-of-the-right-in-2016-europe-s-political-landscape-has-changed/story-QVGxcsohKx1r7EQA8ZG41K.html

http://uk.businessinsider.com/bad-brexit-deal-impact-on-european-and-uk-economy-trade-single-market-2017-4

http://www.cbsnews.com/news/emmanuel-macron-french-election-matters-to-us-donald-trump/

https://www.theatlantic.com/science/archive/2016/11/the-problem-with-abandoning-the-paris-agreement/508085/

What is ISO - 22301 - how and why it was created

Contingency planning and disaster recovery were largely information technology-led responses to natural disasters and terrorism that affected businesses during the 1980s and early 1990s.

There was a growing recognition, however, that this needed to become a business-led process and encompass preparing for many forms of disruption. In light of this, the discipline became known as business continuity management (BCM) more... https://www.iso.org/news/2012/06/Ref1602.html

Standby is able to assist companies achieve ISO certification  through standardization of documentation, training and implementation.  Please contact us for more advice.

Other source Materials:

https://en.wikipedia.org/wiki/Business_continuity

https://www.bsigroup.com/Documents/iso-22301/resources/BSI-BCM-metrics-whitepaper-UK-EN.pdf

Adaptability - how resilient is your company to turbulence and change?

Indicators of resilience

Over the past decade, a team of 35 New Zealand researchers have been seeking to understand what creates resilience in an organization.

 Can your company adapt to change?

Can your company adapt to change?

They have identified a suite of thirteen leading indicators that can help reveal how resilient an organization is likely to be in the face of future crises............

http://www.trainingzone.co.uk/lead/culture/building-your-organizations-adaptive-capacity

Resilience Through Social Capital at True Grit (NZ)

Extract from "A Primer in Resilience: Seven Principles for Managing the Unexpected"

In the wee hours of September 4, 2010, Jacqui Victor, the owner of True Grit, a popular hair salon in Christchurch, New Zealand, was awakened by a phone call while on vacation and learned that Christchurch had been hit by a magnitude 7.1 earthquake. Fearing the worst, Jacquie quickly returned to Christchurch. Not only was the old brick building housing her salon badly shaken—requiring her to move her business to a temporary location—but so were her employees and clients.

A few years earlier, as part of increasing her leadership capability with a business mentor, Jacqui had decided that people—her employees and clients—were at the heart of her business. She also considered her local competitors part of that “people landscape,” for many of them were friends that she had advised as they set up or grew their own businesses. She had learned that social capital was critical to any business, but especially to a service firm. She had purposefully grown her business culture to be warm and friendly, treated her staff like family, and trained them to give clients the special “True Grit” treatment. That treatment brought her clients back after the earthquake when it would have been easier for them to go elsewhere rather than drive across town on devastated roads.

When a second big quake hit nearly six months later, and her damaged premises collapsed, unrepairable, Jacqui said, “I will just take my insurance payout and go!” But then she thought about her staff of 19, and her commitment to her “family” led her to another course of action. She made yet another move to another temporary location and rebooked all her clients.

This recurring theme of temporary locations became part of the True Grit recovery story. How do you find an effective temporary space? With a competitor, of course. After each big earthquake, or when notified by authorities that her location was no longer safe to occupy, Jacqui made a couple of phone calls to those whose shops were still functional. Because she had so many friends in the industry, it did not take long to find someone with spare space and a willingness to share that space with a competitor—their friend Jacqui. Four years later, True Grit is doing better than ever as it recovers with the city its owner and staff members love.

Such relational resilience proved to be invaluable, not only to Jacqui but to hundreds of businesses, large and small, that had been caught unprepared for the devastation in Christchurch. Social capital—entailing staff and clients, supply chain partners, and competitors—underlines the importance of any organization's most valuable resource, especially in times when it seems as though the world is falling apart. True Grit and Jacqui Victor are practical examples of the truth that relational resilience is critical to bouncing back from adversity and, even better, bouncing forward.

http://onlinelibrary.wiley.com/doi/10.1002/joe.21600/full

 

Communications in a Crisis is Critical

Subject to our last post of “Cyber-attack – It’s not a matter of how but when?” Tesco Bank has suffered a severe attack with over 20,000 customers having funds illegally taken from their accounts.  Importantly though is how they have handled the crisis.  Customers are complaining of lack of information and a very unthoughtful message posted to their customers asking "how their weekend was going" has not helped matters. Their CEO, Benny Higgins has been likened to Benny Hill and their share price has dropped.  One UK based newspaper reported that “One customer wrote on Tesco Bank’s customer forum yesterday; ‘Because of your failure to be open about this, I have moved all of the money in my Tesco current account to another bank.’”  

As part of your Business Continuity Process it is very important to have a Communications Plan in place defining how you will communicate information during a crisis.

·         Prepared Holding Statements for specific situations i.e. cyber-attack; data theft;          fraud etc.  

·         Who is on the Communications Team?

·         Who will prepare the Update Statements?

·         Who is your audience that you are trying to reach etc. 

These are only a few of the things that need to be addressed before you experience a crisis – it will improve your company’s ability to react promptly, with transparency and consequently will result in better recovery from the crisis.

Sources:

http://www.dailymail.co.uk/news/article-3912214/Tesco-Bank-freezes-online-accounts-emergency-measure-fraudsters-steal-thousands-customers-amid-fears-hackers-cracked-codes-make-new-bank-cards-will.html