CGF Research Institute (Pty) Ltd
 

An integrated connection-Risk Management & Business Continuity Management

 

The King II Report on Corporate Governance indicates that “sound risk management and internal control frameworks, tailored to the specific circumstances of the company, should be part of the daily operational activities of a company and should not be viewed independently of normal business activities.” It also makes clear that the Board should be responsible for the total process of Risk Management.

 

While Risk Management focuses on every conceivable type of risk that may be found in an organization; Business Continuity Management focuses only upon such aspects that may impact and disrupt the delivery of key products and services.

 

The Explanatory Memorandum of the Companies Bill, 2007, introduces a “form of a codified regime of directors’ duties, which includes both a fiduciary duty, and a duty of reasonable care, which operate in addition to existing common law duties.” In light of the above duties, it may be argued that one of the directors’ duties lies within their need to ensure the organization has adequately provided for its business risks and business continuity.

 

Within this context, it is essential that directors and senior executives familiarize themselves with Business Continuity Management (BCM), as a “holistic management process that identifies potential threats to an organization and the impacts to business operations that those threats, if realized, might cause, and which provides a framework for building organizational resilience with the capability for an effective response that safeguards the interests of its key stakeholders, reputation, brand and value-creating activities.”

 

CGF’s report on “An integrated connection: Risk Management & Business Continuity Management” enjoys the editorial collaboration and peer-review of ContinuitySA and is endorsed by the Institute of Directors (IoD). It covers;

  • Business Continuity Management (BCM)
  • Organizational strategy
  • Relationship with Risk Management
  • Importance of BCM to an organization
  • Management of the BCM program
  • Benefits & outcomes of an effective BCM program
  • BCM plans - development, exercising, maintenance & review
  • BCM implementation process - diagrammatic overview
  • Additional legislation, directives, standards & practices that refer to BCM
  • Acronyms, references & further reading

 


This newsletter has been supplied courtesy of CGF Research Institute (Pty) Ltd, a strategic partner of Proudly South African.

 

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