Welcome Speech by Mr. Teng Theng Dar, CEO, SBF on
"Business Continuity Management - How Much Do You Know and How Prepared are You?"
on 25 June 2009, 8.00 pm to 5.30 pm, at The Regent Singapore, Royal Ballroom (1 Cuscaden Road)
Mr Lawrence Leow,
President, Association of Small & Medium Enterprises.
Distinguished speakers and guests.
Ladies & gentlemen.
1. Good morning.
Introduction
Welcome to today's Business Continuity Management Conference co-organised by the Association of Small & Medium Enterprises & the Singapore Business Federation.
2. As the focal point for the National Business Continuity Management (BCM) Programme, this is part of Singapore Business Federation’s BCM awareness and outreach programme to key industries and associations.
Working together with our partners, we have to date communicated the importance of BCM to more than 3,500 members of the business community through seminars, briefings and talks.
3. Businesses today are faced with seemingly insurmountable threats, of which the current Flu Pandemic declared by the World Health Organisation is just one.
As the BCM focal point for businesses in Singapore, the Singapore Business Federation is helping companies to be business ready for the Flu Pandemic through three ways:
a) Firstly, through the platform of seminars.
We conducted a H1N1 briefing on 11 May 09 attended by close to 1,000 participants with panelists from Ministry of Health, Ministry of Manpower and the Avian & Human Influenza Unit, United Nation (Office for Coordination of Humanitarian Affairs Regional Office for Asia & Pacific).
Other on-going BCM seminars and BCM-centered activities have been planned for the rest of the year.
b) Secondly, we communicated BCM best practices via two e-newsletters in May to all SBF members and provided the Flu Pandemic Business Continuity Guide and H1N1 alerts on our website.
c) Thirdly, working in concert with SPRING Singapore, SBF co-sponsored a four-part BCM advertorial currently running in the local media that reiterates the importance of having a business continuity plan.
The key message that SBF has imparting through the communication channels just mentioned is that – it is imperative for companies to comply with the Flu Pandemic Business Continuity Guide as a first step towards full SS540 certification. In the wake of the H1N1 outbreak, businesses owe it to themselves, their customers and stakeholders to be BCM ready.
4. Our focus today is on the small & medium enterprises and it is indeed appropriate that we are partnering the Association of Small & Medium Enterprises in this outreach.
ASME is a significant partner with us because 70% of our members are also SMEs.
Theme - How much do you know about BCM and how prepared are you?
5. The theme of today’s seminar is “How much do you know about BCM and how prepared are you?”
This is an important question as many Singapore companies are still not aware about BCM, or even the differences between BCM and BCP, otherwise known as Business Continuity Plans.
Business Continuity Management (BCM) is a holistic management process, whereas Business Continuity Plans (BCP) is only the planning without the process or infrastructure in place to manage business continuity.
6. From our observations and interactions with the local business community, many companies claim they know about BCM and think that BCM is just about observing the Flu Pandemic and MOH guidelines and having an IT recovery plan in place. The local businessmen are also not fully aware that BCM can provide for holistic business continuity.
7. In a recent survey conducted by SBF on members’ awareness of BCM and whether they have a business continuity plan (BCP) in place, 85 per cent of the 328 respondents indicated that they are aware of BCM.
However, only about 50 per cent have a BCP in place.
Those with BCP in place, 50 per cent of them, merely focused on recovery from the outbreak of H1N1 and IT-Data Recovery.
Those who did not have a BCP in place and did not intend to develop one, cited the following as reasons -
a) 46% - lack of knowledge and expertise to develop & maintain BCP
b) 14% - too costly to develop & maintain BCP in place.
c) 13% - unaware of BCM
d) 10% - do not see the need
e) 4% - lack management support
8. These findings are a cause for concern especially given Singapore’s encounter with SARS in 2003, with the growing onslaught of flu pandemics such as SARS and H1N1 it is imperative that our businesses understand the potential impact and possible devastation a Flu pandemic can have on businesses and the larger economy.
9. Additionally, companies should note that the threat to business continuity is not limited to a pandemic outbreak.
It can come in many forms such as a terrorist attack, natural disaster, break down in critical communication infrastructure and fraud.
Therefore businesses should prepare to minimise these threats and know what is required to manage interruptions and keep their operations.
The Importance for SMEs to be BCM ready
10. Perhaps at the back of you mind you are thinking that what I’m saying does not apply to you as you are an SME.
11. While it is true that the larger and more established businesses are more prepared after the SARS out break, it is a costly error to assume that BCM is not relevant to SMEs.
12. Given their limited resources, any disruption to their operations brought about by any of the threats mentioned earlier could spell financial disaster for SMEs.
13. At the national level, because of the economic value & numerous size of the SMEs community, it is important that we help support this business group to be more resilient.
The Support provided for SMEs to adopt BCM
14. Therefore we urge SMEs represented here today to review and revise their plans and put in place a robust BCM immediately in the light of the H1N1 threat.
15. As the apex business chamber of Singapore, SBF is here to help SMEs with BCM certification and support their efforts to be business ready in the event of a crisis.
When our companies are able to operate as per normal or as close to normal during a crisis, it speaks well of their ability to weather adversity. It also enhances their viability and Singapore’s status as a trusted business hub.
16. We will be happy to share with you the details on the National BCM programme and how to tap on the S$30million government funding to help your business be BCM certified.
Our BCM hot line and email address will be provided shortly and it can also be found in our website and the National BCM programme brochures provided.
Conclusion
17. To conclude my welcome address, I would like to thank the speakers and panelist, experts in their field who have taken precious time off their busy schedule to share with us the different aspects of BCM for businesses.
18. We are also grateful for the partnership from AXA, CISCO & IBM and the support of:
Spring Singapore (the support agency for the National BCM programme),
Business Software Alliance
Information Technology Standards Committee
Singapore Chemical Industry Council
Singaporean-German Chamber of Industry & Commerce
Singapore National Employers Federation and
Workflow Management Coalition.
19. I would like to take this opportunity to thank our co-organiser, ASME for their contributions and support for today’s event. ASME and SBF have been working closely to help facilitate business opportunities in Singapore.
Last but not least I thank you all for your presence at this conference and hope that you will bring back useful information and ideas to support and realize BCM in your businesses. I wish you all an enjoyable and fruitful conference. Thank you.
Opening Address by Mr. Lawrence Leow, President of ASME, delivered at the business continuity management seminar, 25 June 2009, 9.10 am, at the Regent Hotel, Royal Ballroom.
Mr Teng Theng Dar,
CEO, Singapore Business Federation,
Ladies and Gentlemen;
Good morning.
Welcome to today’s Business Continuity Management Seminar.
In 2003, Asia was badly hit by the SARs crisis. Many companies would be able to recall this difficult and trying period, especially those who were unprepared for a disruption in their business operations. The crisis also induced a recession that hit many businesses.
This year, we find ourselves in a somewhat parallel position, except that this time, Singapore’s economy is already experiencing her worst ever recession brought about by the global financial meltdown abroad. While businesses are struggling to cope with the downturn, we now face the Influenza A (H1N1) pandemic, which continues to spread unabated today. We read each day of the fast increasing number of confirmed cases and of particular worry, spread of the flu among the community.
What will happen to your business operation if your staff have to be quarantined or have caught the flu? Are you prepared for the disruption and the down-time? How do you plan to fulfil customer orders – a failure to do so will translate to lost revenue and possibly liability for breach of contract. How do you recover from such a crisis?
This is where Business Continuity Management comes in. The essence of Business Continuity Management is to ensure the continuity of services and planning for long-term survivability following a disruptive event.
Business Continuity Management is not just about being prepared. It is about planning the most suitable and effective response for your company in a crisis. It also provides a framework to help businesses evaluate potential risks to their businesses.
The potential risks to a business could come in any form. Apart from SARS and H1N1, companies may have to deal with a fire outbreak, a severe flood, a serious haze situation or even corporate fraud or any other incident deemed as a threat to the business.
As a business owner myself, I understand the troubles and implications that organisations face when they are hit with a crisis and are unable to carry on their day-to-day operations. Therefore, I would like to stress the importance of being well informed and prepared under all circumstances.
When a company has in place a robust Business Continuity Management plan, staff, customers and suppliers will be reassured that your business can effectively manage the unexpected and recover quickly from the crisis. This in turn will help to build confidence in your company and enhance your standing in the industry.
The objective of today’s event is to empower business owners with the knowledge to plan for Business Continuity Management. It also serves as a platform for businesses to assess themselves whether the current plans they have set in place are sound and effective.
I believe the topics lined up today will be beneficial to all business owners. I am also confident that our participants today will leave here with a clearer idea of how to prepare themselves for any unexpected turn of events.
I would like to take this opportunity to thank SBF for their contributions as co-organiser of today’s event. ASME and SBF have a good working relationship, and we are proud to be able to work together to further the cause of businesses here in Singapore.
With that, I thank all of you for being here today, and I trust that you will have much to gain from today’s event.
Have a pleasant day.
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