We have heard the age old phrase of ‘never give up’ from the time we are toddlers. It is a phrase that people feel gives encouragement and belief. But what is important for us to realize is that it’s not a mantra that we can keep repeating and we would become resilient to giving up. It’s about building up a character which doesn’t give up easily or lose hope easily. And to build up such a character you need to experience what teaches you what tough going is, you need to have a strong support system. All this factors in and builds character. So how does all this translate to our business, if we don’t want our business to give up?
We have to make our business resilient to the threats out there. In order to do that we have to be able to identify them first. There is no point of going to war without knowing your enemy. This is where a BCM consultant in Singapore can play a lifesaving role in your business. These people help your company to identify already existing risks as well as the potential risks and give you means by which you can mitigate the vulnerability of your company. They will make sure that the necessary strategies are put into place so these threats are nullified, but they also make sure that your company will continue to function if a mishap that cannot be prevented does occur. These plans will help your company respond to threats that our not within our control and also help recover from them.
It includes reviewing the current system of your company and sometimes a complete overhaul of the way things are run. Some examples of preventive methods implemented include a core trade training course which helps make your staff more efficient at what they do and also helps them react better when a situation does arise. Once the risks are identified you need to assess the probability of the threat actually occurring and then how much the impact of such a threat is going to cost your company. Once all this evaluation has taken place then you can get down to action and actually start implementing some of these prevention strategies. Because there would be no point of spending millions on trying to negate a potential risk that had very little chance of occurring.
So building up the character of your business is not the exact same thing as making yourself mentally resilient to external forces trying to bring you down. But there are a few similarities in the way you approach that simply cannot be ignored.