As published in Risk Management Today Issue 15-16 December 2011.
Samantha Ford ADARNA CONSULTING
The management of large-scale sporting and conference events presents evolving subsets of risk. As events become bigger, managing these risks becomes more complex. The interdependencies between stakeholders mean that an issue affecting one can have an impact onothers or, indeed, the success or reputation of the larger event. The 2011 Rugby World Cup in New Zealand provides a number of examples of this. Overall, it was an incredibly successful event, but it was not without some noteworthy issues that threatened the reputations of organisers, sponsors, hosts, teams and the game itself.
Read the full article
Over the past few years across the country we have seen extreme temperatures, bushfires, torrential rain, flash flooding and catastrophic flooding and cyclones. Business owners have a few challenges on their hands including, how to ensure their continuity and successful recovery from these events.
Unfortunately, 43% of businesses that suffer significant disaster typically take 2 months or longer to recover from a disaster dramatically affecting productivity and profits. Businesses across the country are still clearing up. In some cases it will be weeks and months before they are able to restore full productivity.
On top of clean-up and continuity concerns there are also legislative and regulatory requirements that still need to be adhered to and reported on. Post disaster it is not always physical damage that determines business survival. It is whether companies are able to deliver on their commitments to key stakeholders. A good business continuity plan documents contingencies for how the business will continue to meet those commitments.
An effective (and tested) business continuity and crisis plan can reduce losses by up to 90% in the event of an incident or disaster. Businesses are able to achieve at least partial critical operation with little (if any) down time. Does your business have a business continuity plan? Did it work or were there a few glitches?
Following a disaster is the most opportune time to review your existing plans, even if your business wasn’t directly affected. By undertaking a review it provides business with the opportunity to capture lessons and incorporate crucial changes into plans to ensure preparedness for any event. This will enable the business to respond even more efficiently, recover quickly and minimise losses should another event occur.
If you don’t have formal crisis and business continuity plans in place, now is the time to seek some advice from the experts so that you are prepared should an interruption or disaster affect your business.
Free Workshops and Webinars in 2012
In 2012, Enterprise Connect has provided funding to Adarna Consulting Pty Ltd to conduct the Protect Your Business series of events to help businesses improve their resilience. These events are FREE and include the “Build a Business Continuity Plan in a Day” workshops in Brisbane, Sydney, Newcastle and Wollongong during February 2012. For further information and dates on these events go to our Upcoming Events page.
If you have any questions about disaster assistance available to business, or would like us to help you to review and develop your plans, contact us on 02 9568 6661.
Samantha Ford
Adarna Consulting
www.adarnaconsulting.com.au
Earlier in 2010 Enterprise Connect sought applications for the delivery of activities to assist Australian businesses to understand the importance of developing and maintaining a business continuity plan and the impact this plan has on ensuring the survival and/or speed of recovery of the business following disruption. Adarna Consulting Pty Ltd were successful in securing a grant to run the Protect Your Business Series of events.
Free Workshops for SMEs
A total of six (6) facilitated workshops enabling participants to “build a business continuity plan in a day” will be delivered in February 2012 in Sydney, Newcastle, Wollongong and Brisbane. This will be followed by three (3) live presentation-style webinars addressing risk management, recovery and best practice crisis management.
Events which adversely impact Australian businesses and our economy take many forms from catastrophic natural disasters caused by floods, fires, cyclones and droughts to more personal localised events such as the sudden loss of your premises, a key supplier, customer or employee to the potential of a pandemic or act of terrorism.
The decisions you make following an event will determine whether and/or how quickly your business will recover. Having a current business continuity plan in place will assist you to make the right decisions.
- Know your risks
- Do what you can to prevent business impacts
- Respond to unexpected incidents effectively
- Recover and return to business as usual
For workshop schedule and registration forms click here.
Enterprise Connect is a $50 million a year Australian Government initiative that provides support to eligible Australian small and medium sized businesses. Core services include a Business Review for eligible businesses at no charge to firms and grant assistance to implement recommendations flowing from the Business Review. For more information visit www.enterpriseconnect.gov.au or call the Hotline on 131 791.
Times they are a changin’ – again. Having survived GFC mark 1 a number of businesses are watching current market events very closely. With local and international markets up and down like the proverbial yo-yo and the likely impacts still to play out it is perhaps a little wise to keep your eye on the ball and adapt to circumstances as they require. Below are a few tips for surviving the turmoil:
- Plan for the future and develop strategies for managing difficult times
- Stay on top of cash flow
- Choose your product mix carefully manage your inventory efficiently
- Take care of your existing clientele and take every opportunity to improve your customer service
- Identify and follow where your market is at and ADAPT accordingly
- Manage your risks diligently
- Improve your knowledge of events
- Maintain your motivation
There has been much speculation in the last week or so surrounding the News of the World phone hacking scandal and subsequent closure of the UK print media powerhouse. In so far as corporate crises go – this is huge. Questions concerning closure of the newspaper range from why not just sack the executives to just how deep does this go?
In the past week or so investigations have commenced in other countries concerning conduct of the media, Rebekah Brooks has been arrested and the Metropolitan Police Commissioner has resigned amidst allegations that some members of his command were corrupt.
Uncle Rupert – what a mess!
Was it the right decision to cut the newspaper off in it’s entirety? I wouldn’t have thought so however we don’t have the full story yet, it could be an indication for what is to come. Only time will tell and it’s sure to become one of those text book case studies for reputation and crisis management in the years to come.
