The paper “ How Business Continuity Management Can Help an Organization Manage Risks and Challenges” is a creative example of the essay on management. With the rate at which globalization is taking root in all sectors of human life, the business has become a volatile economic activity. With globalization comes a wave of change. The wave embraces such things as changes in demographic factors, changes in technology, culture, as well as international trade. A rapidly changing business environment can best be described in one word – risky. With risks arising in both the internal and external environment of business, planning becomes necessary since risks put the going concern concept of business at stake (Sikich 2003).
Apparently, the going concern concept is a crucial factor as it concerns itself with the business’ ability to continue operating into the foreseeable future. Apparently, proper planning takes various efforts. Such efforts are a combination of functions and are collectively referred to as Business Continuity Management (BCM). This has become a primary concept in business management as organizations venture into the global market, exposing their processes to various risks.
This paper is an effort to explain the role of Business Continuity Management in reducing the risks to which organizations are exposed as a result of globalization and catastrophic happenings. How BCM Can Help an Organization Manage Risks and ChallengesBCM has been variously described as a combination of efforts aimed at identifying and evaluating probable threats, both internal and external, to an organization’ s continuity, and providing a framework for the development of resilience and effective operations. The same framework provides responses for the risks and unforeseen uncertainties that may come in the course of everyday operations.
Investors are concerned with the going concern concept of a business. This is a measure of the ability of a business organization to continue carrying out business normally into the foreseeable future (Blyth 2009). BCM concerns itself with such things as sustainable existence in times of adversity. This means that the business should be capable of operating normally in times of hardship, be it economic or environmental.
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