Business Continuity Mnagement Essay Example | Topics and Well Written Essays - 1500 words

Business Continuity Mnagement - Essay ExampleThis study will evaluate the events or the reasons, which led to the businesses seeking more than recovery of data it will highlight the key elements that differentiate BCM from Disaster Recovery.Recovery implies to recover something that has been lost the recovery whitethorn be in part or in full. Continuity, on the other hand suggests business carries on as usual and the impact of failure whitethorn be minimal, if at all. BCM deals with the threats that confront any business. Insurance may cover the cost of the fixed assets but cannot cover the opportunity loss or the market place share that any business may lose (Smith 2002). The September 11 terrorist attack on the US, the cases of Anthrax virus infiltrations, frequent hackers breaking into the corporate systems, and congenital disasters like Tsunami and Hurricane Katrina, may capture the headlines, but almost 90% of the crises are quiet catastrophes according to Smith. It is these c atastrophes that damage the organizations brand and reputation. Research to a fault indicates that the shareholder price value increased of those companies who managed to successfully handle the crises compared to those who could not handle the situation well.In 1989, a large volume of case studies were published, binding mostly crises that had occurred in the 1970s and 1980s. Throughout this period, as the two fields gradually consolidated, the formation of three mindsets was developed. Namely, the technology mindset during the 1970s, which was limited to assuming that crisis, was initiated solo to computer systems and facilities. Moreover, in the 1980s organizations adopted an auditing approach which was broader in scope but did not comprehend the full picture. The inauguration of the following decade truism the development of the value based mindset, which is concerned less with compliance, regulations, or technology failure than with the needs of the business itself.The succ ess of a company lies in its capability to continue business