How prepared are Tunisian SME in dealing with business interruption
Date of study: June, July, and August 2020.
The goal of this study is tounderline the importance of preparedness to unforeseen problems that may disrupt your business continuity. We hoped to point out the importance of CM& BC onstability and profitability of the organization, the integrity of its resources and investments, and the safety of its employees and customers.
What follows is a resume of some of the important points
- 68% of respondents do not have a CMP or a BC
- 22% indicated that a CMP is desirable but other priorities take precedence
- TPE (<100 employees) show the least interest in establishing a BCP
- 37% of participants point to leadership’s lack of interest in investing in regulation mechanism or in training of personnel
- 18% of companies (>300 employees) believe they had a CMP that is outdated, or was never implemented
- 65% of senior managers questioned believe their companies do not have a dedicated team, or process in place to deal with sudden interruptions.
Events that inspire major concerns within management and business owners:
- It is interesting to note that a pandemic did not figure in the top concerns of managers and business owners as a major long term event.
- An earlier research conducted by 4DLH shows that small businesses have fewer resources to plan, respond, and recover from a small or medium size crisis.
- It is clear that SME owners invest a lot of money, time, and resources in their business, yet they fail to properly plan for the various crisis that their business might face.
- The absence of a BC Plan is a red flag that should be treated immediately. SME must develop a system for recovery as well as for the resumption of critical business activities after a crisis has occurred. A BC plan also outlines the time frame in which a company can realistically expect to resume usual business operations.
The reasons for failing to properly prepare for a crisis or develop a BC are as follows:
These results highlight business owners’ misunderstanding of “intangible” assets in calculating a ROI.
Developing a set of technical, administrative and management activities to recover and restore business critical business assets is of extreme consequence to any size business.
Developing a crisis management plan helps your teams identify potential threats as they plan and game out the tasks, communications, and information they’ll need to deal with those threats. What’s more, planning (and executing on those plans) just yields better outcomes, including better financial outcomes, and a client base that trusts you.