The latest business continuity news from around the world

BC Management’s 9th Annual Event Impact Management Study has been published. This year’s study was supported by Witt O’Brien’s LLC and assessed how organizations prepare for events and how those events impacted organizations during 2020.

One key discovery from the survey carried out for the report was the increased involvement of executive leadership in incident management. In 89 percent of organizations executive leadership was involved in ‘pandemic/disease’ response. Other areas of involvement were ‘cyberspace attack’ (38 percent - up from 25 percent); ‘health/safety issues’ (33 percent); and ‘protest’ (33 percent - up from 19 percent). According to respondents, these same events resulted in the most significant estimated financial loss and the greatest impact on employees.

Other key findings in the study include:

  • 53 percent of organizations with ‘mature’ and ‘very mature’ programs indicated they have an integrated, holistic program equally focused on business continuity, crisis management, and crisis communications.
  • 6 percent of respondents noted $10M+ in estimated financial losses, and, of those, 50 percent of business continuity programs were developed less than four years ago, while 60 percent never exercised business continuity plans.
  • 44 percent of respondents have only 1 to 2 dedicated, internal program personnel.
  • 58 percent are developing end-to-end program reviews/refreshes of their resiliency programs.
  • The pandemic consumed organizations with the longest business resumption period (average of 206 days) and presented the highest impact to critical processes (36 percent indicated more than 75 percent of critical processes were impacted.)

Read the report (PDF).


Want news and features emailed to you?

Signup to our free newsletters and never miss a story.

A website you can trust

The entire Continuity Central website is scanned daily by Sucuri to ensure that no malware exists within the site. This means that you can browse with complete confidence.

Business continuity?

Business continuity can be defined as 'the processes, procedures, decisions and activities to ensure that an organization can continue to function through an operational interruption'. Read more about the basics of business continuity here.

Get the latest news and information sent to you by email

Continuity Central provides a number of free newsletters which are distributed by email. To subscribe click here.