Promoting business continuity management implementation in SMEs in Sub Saharan Africa: Implications and challenges.
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Date
2017
Authors
Fadun, O. S.
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Abstract
Business organisations, including small and medium-sized enterprises (SMEs), operations can be disrupted; and such interruption can be either minor or major. Such interruption, if not well managed, may shorten the life of the organisation. SMEs are critical in the development of a nation because they stimulate economy growth and development. BCM provides a framework that assists organisations to identify and manage events which can obstruct the firm’s operations to ensure its survival and meet its obligations. SMEs operate in a global dynamic and complex business environment; hence, the need for SMEs to embrace business continuity management (BCM) to maximise their strengths and opportunities. The study examined BCM in the context of SMEs. Secondary data, consisting of the literature and previous relevant studies, was used mainly for the study to deduce benefits of BCM to SMEs, and challenges of implementation of BCM by SMEs in Sub-Saharan countries, using Nigeria as a reference point. The study advocates the adoption of BCM by SMEs in Sub-Saharan Africa countries to promote proactive response and establish a framework for managing incidents capable of disrupting business to ensure less severely disaster and quick recovery. It emphasised that BCM plays important role in building SMEs resilience to ensure their survivability and profitability. The implication for practice is that the importance and benefits of BCM cannot be over emphasised in SMEs; adoption of BCM effectively reduce SMEs business disruption, and BCM costs are justified by benefits accruable to SMEs in Nigeria. The findings are consistent with recent studies which revealed that businesses that have adopted BCM affirmed that BCM improves business resilience, helps protect their reputation, meets customer requirements, and assist organisation to recover from disruption more quickly than would otherwise have been the case (CMI, 2013; Theunissen and Lawton-Misra, 2016). Regardless of the size and nature of a business, BCM is beneficial to SMEs; hence, BCM is a worthwhile investment for SMEs.
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Fadun, O. S. (2017). Promoting business continuity management implementation in SMEs in Sub Saharan Africa: Implications and challenges. Journal of Risk and Insurance Practice, 3(1), 30-42.