An investigation into business continuity risks and related business continuity plan
- Authors: Nel, Izette
- Date: 2012-06-07
- Subjects: Risk , Risk management , Risk assessment , Crisis management , Business planning
- Type: Mini-Dissertation
- Identifier: uj:8715 , http://hdl.handle.net/10210/5067
- Description: 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.
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Opposing views of risk : balancing past experience with future expectations
- Authors: Van Eeden, Deon
- Date: 2012-08-01
- Subjects: Risk , Risk management
- Type: Mini-Dissertation
- Identifier: uj:8911 , http://hdl.handle.net/10210/5382
- Description: M.Phil. , Since the beginning of recorded history and probably before, man has been plagued by what the future holds for him. Initially man felt himself to be at the mercy of the gods, and his “fate” was in their hands. As man learned to overcome his superstition he started identifying patterns in his existence. He learnt from experience that certain events re-occurred, thereby allowing him to “predict” the future. This thesis will explore man’s historical effort to stabilise his existence by minimising the risk that he is exposed to. The researcher will then try to identify what hinders man from truly minimising the risk that he assumes or at least how he could improve his probability of success. The researcher will draw from the manufacturing, banking and academic environments as well as the researcher’s personal experience and observations. The thesis begins with a short history of probability and how it found its way into manufacturing as a tool to improve quality. Then risk management as a discipline designed to improve the reliability of organisations will be discussed and finally how it found its way into banking regulations to help improve the stability of the financial system. The researcher hopes to provide insight into the application of risk management and how human emotion and expectations limit the effectiveness of this tool. The researcher will propose a solution to the problem of balancing past experience with future expectation.
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