The Business Continuity Institute estimated that 0.8% of UK GDP is lost due to lack of business continuity management
The UK economy is losing £11.1bn a year, the equivalent to 0.8% of UK GDP, to major disruptions due to lack of business continuity management (BCM), according to research.
The research was designed to calculate the cost of 17 major disruptions to the UK economy. The figure shows that organisations are still not looking seriously at BCM, claimed the authors.
‘It is vital that an organisation understands its dependency on critical suppliers. The lack of availability to essential products can have a serious impact on business. Disruptions to the supply chain will be one of the main business continuity concerns for 2009,’ clamed Lyndon Bird, technical director of the Business Continuity Institute, which conducted the research.
The BCI has produced a survival guide and on-line assessment survey to help organisations evaluate their BCM strategies.
To download and complete the survival guide, click here.
