Weaknesses of Competitors and Business Opportunities
To remain competitive, companies have evolved to become increasingly agile and flexible to changes caused fluctuations in supply and demand, and any weakness of a competitor is rapidly becoming a business opportunity for many. For the CEO this is nothing new and his work focuses on the rise through the ranks in the market for maintaining a constant process of improving its products, optimizing and improving manufacturing processes in order to make them more competitive while maintaining quality the lowest possible cost.
In this sense, organizations are experienced in adapting to the market and strategy, so the productive approach is designed to adapt their production to the requirements of it, shortening the time between production and the sale and avoiding as much possible unnecessary accumulations of stock, which makes it unnecessarily more expensive products.
We can therefore say that both naturally and by the very nature of the market, our organizations are ready to produce acceptable quality products at competitive prices. But are they prepared to face our organizations incident to halt business for a while?
I suppose that question a few times we have faced and immediately when disasters occur, high-impact media such as earthquakes, floods, fires, or other coming to us daily by the media. But the reality is that operational risk is caused by major disasters low percentage compared to other more everyday, such as electrical outages, absenteeism, strikes, theft, fraud, vandalism, and bear all risks associated with human error, failure systems, procedures and inadequate controls.
What can we do to minimize these risks? Until relatively recently, only certain organizations have Business Continuity Plans (BCP, Business Continuity Plan), in many cases required by the special characteristics of their businesses (banking, chemical, pharmaceutical, etc …), but it is becoming most needed, regardless of sector and size of the organization, establish mechanisms to minimize risks and implement recovery plans that we ensure continuity of business operations, even though there has been a disaster.
A Business Continuity Plan, therefore, enables us to develop strategies that ensure we maintain business-critical operations to an acceptable minimum level during a contingency. This implies that a BCP should address all preventive measures and recovery when there is a contingency affecting the business.
Some of the objectives of Business Continuity Plans are to assess the potential risks and develop contingencies for unforeseen events, minimize disruptions in normal operations, alternative mechanisms previously discussed operation, maintain a minimum level of service for the recovery of operations, protecting the business functions that offer products or services, minimize the economic impact of disruptions and train staff in emergency procedures.
Good information!
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