Challenges and opportunities for business continuity within 21st-century business models
Abstract
This paper sets out to explore the new challenges and opportunities for business continuity within 21st-century business models. It illustrates why and how businesses are changing, demanding that traditional silos of risk thinking be broken down, and business continuity management (BCM) become a central and crucial tool for the board and its risk management team. The paper also sets out to explain an important need for traditional organisational barriers to be lowered among the risk community. As in all business change, there are drivers for that change. By exploring and understanding these drivers, it will be possible to fully appreciate why business continuity itself is changing, and why it must change further if it is to satisfy the needs and trust of its own stakeholders. That understanding will also help to forecast the challenges and opportunities for risk and continuity professionals that will evolve in years to come. It will also encourage some organisations to rethink how BCM is best skilled and positioned within their management structures.
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Author's Biography
David Kaye Chartered Insurer, was a divisional director of a large multinational responsible for risk management, with hands-on experience of operational risks worldwide. He now writes, lectures and guides a wide range of business and public service clients. He is the Institute of Risk Management’s lead examiner on business continuity and the author of the Chartered Insurance Institute’s examination textbook, ‘Operational Risk Management’. He has also co-authored ‘A Risk Management Approach to Business Continuity’, published by Rothstein Associates Inc, which brings together risk management and business continuity thinking. He is a Fellow of the Business Continuity Institute, a Fellow of the Chartered Insurance Institute, a Fellow of the Royal Society of Arts and a Member of the Institute of Risk Management.
Citation
Kaye, David (2006, September 1). Challenges and opportunities for business continuity within 21st-century business models. In the Journal of Business Continuity & Emergency Planning, Volume 1, Issue 1. https://doi.org/10.69554/BUWP3235.
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