Business Continuity Management

The value a company creates is measured by the amount buyers are willing to pay for a product or service. A company is profitable if the value it creates exceeds the cost of performing value creation functions such as procurement, manufacturing, and marketing. To gain a competitive advantage, a company must either perform value creation functions at a lower cost than its rivals or perform them in a way that leads to differentiation and a premium price. In other words, it must pursue either low-cost or differentiation strategies. Understanding the…

Total Quality Management (TQM) is a holistic approach to long-term success through customer satisfaction. It is a structured system for achieving high levels of quality through continuous improvement, involving all employees across an organization. TQM focuses on process improvements to deliver high-quality products and services that meet or exceed customer expectations. TQM is rooted in the belief that quality must be ingrained in every aspect of the organization. It encourages every employee, from the executive level to the shop floor, to focus on quality enhancement. By applying quality principles consistently…

Business Continuity Management (BCM) is a critical discipline that ensures organizations remain operational during times of unexpected disruption. Whether faced with natural disasters, technological failures, or cybersecurity breaches, BCM helps an organization prepare for and recover from crises. It involves a series of processes that identify potential risks, assess their impact, and implement strategies to ensure business operations continue with minimal interruption. By proactively addressing these risks, BCM helps minimize downtime, protect revenue, and safeguard an organization’s reputation. The Role of Business Continuity Management in Risk Mitigation Risk mitigation is…