Business continuity in a globalized economy

The process of globalization is intensifying, and with it the business continuity challenges organizations face. This, then, should be of interest to investors and business people: Minneapolis, Minnesota-based iJET Intelligent Risk Systems, a provider of global intelligence and business resiliency services, said a white paper written by its analysts — titled “Business Resiliency for the Global Marketplace: Transforming Operating Risk into Competitive Advantage” — is now available. The paper outlines organizations’ changing approach to risk management, business continuity, and business resiliency. The paper identifies a shift in the way multinational organizations are approaching the global market. By harnessing proven disaster response and business continuity best practices, many organizations have identified experiences and best practices to support a shift in their approach to protect and enhance revenue in the face of business disruptions. Using real-world case studies, the paper illustrates how organizations are evolving their focus from reactive to proactive to adaptive as they prepare for and respond to crises and disruptions.
Multinational organizations are increasingly adopting business resiliency practices — defined as the ability to rapidly adapt and respond to risks and opportunities in order to maintain continuity of business operations, remain a trusted partner and enable growth-as the inherent risks of the global marketplace arise. “Risks are no longer solely limited to emerging markets,” said Stephen Hoffman, iJET’s CEO. “Now more than ever, business leaders are challenged to not just grow value but to protect it. The combination of risk and opportunity is prompting organizations to rethink business continuity, corporate security, supply chain and enterprise risk management. As a result, an increasing number of organizations realize that business resiliency is a requirement for continued global operations, growth and success.”

The paper examines the opportunities multinational organizations have in the major emerging markets of Brazil, Russia, India, and China; the increased global, interconnected network of partners and suppliers that is making resiliency a more pressing initiative; the high costs of mismanaging risks; and how organizations are shifting their focus from disaster recovery to resiliency, tackling increased risks with proactive steps that ultimately lead to increased revenue and new opportunities.