Over half of organisations in the UK don’t have a business continuity plan, research by the Chartered Management Institute (CMI) and Cabinet Office has revealed.
Despite the escalating and increasingly diverse risks to the modern organisation, companies are playing Russian roulette and failing to protect their business. The survey found just 47% of organisations across the UK have a business continuity plan (BCP) in place – up by just 2% since 2002.
Those companies more firmly in the public eye are more inclined to protect themselves – 62% of companies in the public sector have BCPs in place compared to only 40% of private and voluntary organisations.
Among those with business continuity plans in place, the principal reason for doing so is achieving compliance – 60% said corporate governance was the key driver and amongst PLCs this figure rose to 76%.
Central government was listed as the second highest driver (33%) followed by customer demand (32%). The results also show that calls for contingency planning are increasing from auditors (30%, up from 24% in 2007) and insurers (30% up from 28% in 2007).
Jo Causon, director of marketing and corporate affairs at the CMI said: “It doesn’t matter whether the turbulent times we face are caused by economic or security concerns; the simple fact is that failing to provide safeguards for business operations does not make sense.”
© Crimson Business Ltd. 2008
