Companies have to grapple with a number of issues like manpower constraints, competition and customer expectations. Resource allocation is often a challenge that most small and medium enterprises (SMEs) have to tackle on a daily basis, under normal operating conditions. Things can go awry when our enterprises are affected by unexpected crisis or disruption. Achieving balance in resource allocation to deal with disruptions and realising your company’s risk appetite are critical key success factors for Singapore companies to survive, sustain and succeed.
SBF aims to drive Singapore companies’ adoption of enterprise resilience standards (ERS):
- ISO 22301 Societal Security – Business Continuity Management Systems
- ISO 27001 Information Security Management Systems
- ISO 28000 Certification on Security Management Systems for Supply Chain
- SS 584 Specification for Multi-tiered Cloud Computing Security
The four standards enables Singapore companies have the capabilities and capacity for business resilience. Key areas are as follow:
- . Understanding aim and purpose of business resilience
- . Preparedness for identified impacts with risk mitigation strategies/policies
- . Implemented tried-and-tested risk mitigation measures in place
- . Stakeholder Alignment in how the organisation needs to react when crisis hits
- . Regular monitoring of identified risks; management review on possible impacts; and continuous improvements to fortify enterprise resilience
If you are keen to embark on any one of the four ERS, please refer to the sequential flow of activities for more details!