SBF’S VERIFIABLE BUSINESS CONTINUITY PLAN INITIATIVE
The verifiable Business Continuity Plan (BCP) initiative serves to help enterprises develop their contingency plans for specific and recurring scenarios such as haze-related disruptions, without the need for full ISO 22301 BCM certification. This was announced by Minister of State for Trade and Industry, Dr Koh Poh Koon at the Singapore Business Federation’s Business Continuity Management (BCM) Annual Conference on 6 January 2016.
BENEFITS TO SINGAPORE COMPANIES AND BUSINESS COMMUNITY
Based on the ISO 22301:2012 framework, BCP refers to a plan for a business to continue operations if it is affected by different levels of disasters or disruptions.
Singapore enterprises have a critical role in supporting larger companies in the region, as well as fulfilling their customers’ requirements. The benefits for companies are as follow:
- Develop and implement a BCP that addresses specific scenario/s that cause significant impact to their operations and sustainability.
- Enhance competencies and capacity in identifying and addressing unexpected disruptions, i.e. to be prepared and know how to react.
- Raise staff morale that their well-being is addressed, thus foster team bonding and cooperation during planning and implementation stages.
- Foster greater customer confidence in your brand’s readiness to handle disruptions and able to resume normal operations quickly.
- Elevate your competitiveness in securing contracts with specific service level requirements.
- Ensure your stakeholders and customers that your business is sustainable in the long run.
At the national level, a robust and resilient private sector will enhance Singapore’s global reputation collectively as a trusted business hub for reliable and quality service, as well as improve the nation’s preparedness for crises and disruptions.
Please click here if you are keen to apply for government assistance to develop your company’s BCP. SPRING Singapore will not be accepting CDG application for verifiable BCP after 31 March 2017.