The UAE's continuing growth as the regional commercial hub highlights the need for private and public sector organizations to follow Britain's lead in taking steps to ensure businesses can cope with a crisis, management systems experts say. Research by BSI, which launched its Business Continuity Management (BCM) system, BS 25999, in Dubai on Thursday, shows that UK businesses are increasingly active in preparing themselves for the threat of disruption or disaster. The Business Continuity Management (BCM) system introduced on Thursday at an official Dubai launch event at the Jumeirah Beach Hotel is a process of managing the risks related to a company's resilience to unexpected incidents; planning how to respond to events and how to recover afterwards. The launch coincides with the announcement of a new BSI office for Abu Dhabi. BSI, the world's leading management systems registrar, already serves more than 1,200 clients from its Dubai office which opened in 2003. BSI said there is a clear need for businesses to adopt robust BCM standards such as BS 25999. By following the requirements of the standard, organizations can improve enterprise stability, increase job security, ensure the flow of money into communities and prevent regional economic collapse in the event of a disaster. Without BCM standards in place, infrastructure and supply chains are less secure and employment and economic growth is placed at risk. The launch of a new global standard for business continuity is a timely development for UAE companies. In recent months, floods in Dubai, earthquakes in Sharjah and disruption to the internet have highlighted the need for businesses to prepare for the worst rather than hope for the best. Mike Low, director of BSI British Standards, said: “The scale of risk and opportunity in the FTSE 250 are enormous and these organizations are recognizing that BCM has to be at the heart of their operations. “It's also crucial for smaller organizations and those in other sectors to look seriously at how they would cope in the event of a disaster. “Bearing in mind the spiraling growth of business in the UAE, coupled with increased awareness of how unexpected natural and man-made disasters can impact on private and public sector organizations, it's logical that businesses here should take a much closer look at how well prepared they are to deal with a crisis.” “In today's business world, companies face all manner of potential threats on a daily basis and the consequences for those that are not properly prepared can be disastrous,” said Frank Post, Group Communications Director for BSI Group. “The Business Continuity Management system will help companies in the UAE to cope with disasters, such as the recent extreme flooding we experienced in Dubai, the earthquakes in Sharjah and the interruption to Internet services. In today's climate, businesses wanting to survive must adopt robust continuity plans for their critical risks.” The Dubai Strategic Plan developed by Sheikh Mohammed Bin Rashid Al-Maktoum, vice president and prime minister of the UAE and ruler of Dubai, provides for the following business continuity elements: q Ensure full readiness for efficient crisis and disaster management q Develop crisis and disaster contingency plans q Ensure concerned stakeholders adopt contingency plans q Provide equipment and infrastructure for crisis and disaster management q Strengthen strategic and forward looking focus by developing mechanisms for risk identification and management q Align Dubai's' laws and regulations with international best practice. The annual survey of FTSE 250 companies by BSI, a leading management systems registrar, found that: q 81 percent of FTSE companies would expect to last up to one week before feeling serious detrimental effects following disruption or disaster q Almost two thirds (63 percent) are very well prepared for serious IT failure q Half of businesses surveyed are fully prepared for a forced office relocation q Almost half (47 percent) are fully prepared for comprehensive supply chain failure The research also showed that 71 percent of FTSE 250 companies recognize the importance of Business Continuity Management (BCM) in staying competitive and winning new business in the future - an increase of 10 percent on 2006. Meanwhile, turmoil in the international financial markets, natural disasters and terror threats have warned of the huge risks faced around the world by companies without robust continuity plans in place. BSI is introducing its Business Continuity Management (BCM) system, BS 25999, in the UAE at a time when audited programs showing how a firm can continue to operate in the event of major problems are quickly becoming a standard requirement in the world of commerce. __
