Marsh’s 2010 Business Continuity Benchmark Report examines the perceptions of business continuity management (BCM) of over 220 business continuity and risk managers from 11 industry sectors, including financial services and manufacturing, across Europe, the Middle East and Africa (EMEA).
While representing only part of the world’s territories and just 11 industry sectors, our staff believes that this new research published by Marsh in a report titled “2010 EMEA Business Continuity Benchmark Report” contains valuable information including the perceptions of business continuity management of over 220 business continuity and risk managers. This report can also assist our organizations who face constantly changing business environments and are required to have effective business continuity plans to respond to potential threats not only to their operations, but just as importantly to their people and supply chains.
“These results show that firms value BCM much more highly than when we last conducted this survey two years ago. However, our experience is that many organizations overrate their BCM capabilities and their perceptions often do not match reality,” explained Hugh Morris, managing consultant in Marsh Risk Consulting. “The more obvious nature of physical supply chain risks is apparent to manufacturing firms, while only the most advanced financial services firms realize how important and vulnerable their supply chain can be”.
One of the more interesting observations we would like to point out from this report is that “…Although 83 percent of respondents believed that business continuity management was integral to their risk management and that it was understood and supported by senior management, only 41 percent said that it had given them a better understanding of their business. Moreover, just 29 percent felt that it had led to improved risk-intelligent decision-making”.
As you read this report, we are certain that each of our readers will take away relevant and meaningful information that can be brought back to their own organization’s efforts to achieve organizational resiliency.
Please share your thoughts with our business continuity community – and pass this information along to the business continuity, risk management team members in your organization.