banks, business continuity management, Business development, financial development, financial sector, management, natural disasters, terrorist attacks
Is Business Continuity Management a Misnomer?

For more than ten years business continuity management (BCM) has been on the priority list of senior managers because of events such as Y2K, the implementation of the Euro, terrorist attacks, natural disasters like hurricanes, earthquakes, floods and tsunamis, and pandemic outbreaks such as SARS, H1N1 and Mexican Flu. Additionally, in some sensitive industries such as the financial sector, regulators increasingly require banks to have effective BCM measures in place.

This paper discusses why business continuity management, as a discipline and as perceived by many today, is at the crossroads of direction and focus. In fact, BCM does not currently fully cover the actual meaning of the term business continuity, to the extent that one could ask: 'Is business continuity management a misnomer'?

Added by View user profileFarina Ahmed on August 17, 2011