Abstract
M.Comm.
To prevent the interruption of an organization’s daily operations in the event of a catastrophe, organizations must reconsider the importance of creating awareness and being prepared for the unexpected. The importance of business continuity for the survival of any organization during a crisis or disaster has become a prominent factor within the modern organization. Organizations must fully understand the importance of this factor and the impact it could have on the organization. Adequate and effective actions and procedures should be in place to address the organization’s business continuity risks.
The study investigated the different business continuity risks that an organization faces in its internal and external environment and the concept and principles of an effective business continuity plan to address and manage these risks. This was done by way of a comprehensive literature study on business continuity factors as well as an empirical study of established business continuity practices at the audit clients of the four largest audit firms.
The study found that there are various categories of business continuity risks that are applicable to the modern organization, but although the majority of organizations are aware of the risks that they are faced with not all organizations fully understand the impact of these risks on the organization and therefore not all organizations have effective and adequate business continuity plans in place to address and manage these risks. Organizations are not placing focus on the establishment of a business continuity culture within the organization that supports its business continuity philosophy and the success of its business continuity actions and procedures. It was evident that there is still room for improvement in the way organizations currently address their business continuity risks.