At its essence, business continuity management is about ensuring business-critical activities continue in the event of disruption. Disruptive events, though, come in multiple varieties: external and internal; planned and unplanned. Somehow, organisations must prepare for all of them, even the unlikeliest contingencies. Do they?
Well, going into the 2016 Brexit referendum vote, a “Leave” verdict seemed unlikely, at least according to the oddsmakers.i Yet, the perceived risk to U.K. businesses of leaving the EU was clear. “Leave”, of course, won out at the polls. Two-plus years after those results, the British Chambers of Commerce (BCC) concluded that a staggering 62 percent of firms hadn’t completed a Brexit risk assessment.
Now, the U.K. government has managed to secure a “flexible” extension on Brexit until the end of October 2019. Again, the clock ticks for businesses, especially major retailers and other fast-moving consumer goods companies (FMCG), who must plan how they will ensure the flow of critical services in a post-Brexit landscape. Are those businesses any more crisis-prepared today?