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Operational Business Risks Beyond the Economy and Competition and How to Mitigate Them. Presented by: Ann Wyganowski MBCP, CBRM, MBCI Mark Baker, MA, CBCP , FCIP, CRM Fred Winegust, MBA, BSc. Who are we?. Mark W. Baker

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presented by ann wyganowski mbcp cbrm mbci mark baker ma cbcp fcip crm fred winegust mba bsc

Operational Business Risks Beyond the Economy and Competition and How to Mitigate Them

Presented by:

Ann Wyganowski MBCP, CBRM, MBCI

Mark Baker, MA, CBCP, FCIP, CRM

Fred Winegust, MBA, BSc.

who are we
Who are we?

Mark W. Baker

  • Risk and Insurance Management, Business Continuity Consultant

Ann Wyganowski

  • Vice-President - HZX Business Continuity Planning

Fred Winegust

  • Centennial College
what problems are faced by small business
What Problems are faced by small business?

One Problem

  • Risk of Disrupted Operations during a disaster
    • No Cash Flow
    • Lost Customers
    • Insurance ≠ Recovered Operations
what problem are you solving
What Problem are you Solving?

What disrupts business operations?

what problem are you solving1
What Problem are you Solving?

What are you trying to recover?

=

Facilities

Supply Chain

Workforce

Customers

Cashflow

some terms
Some terms

Emergency Management

An ongoing process to prevent, mitigate, prepare for, respond to, and recover from an incident that threatens life, property, operations, or the environment

CSA z1600

what does it really mean
What does it really mean?

Emergency Procedures and Crisis Communications

  • React to the incident and control it
  • Make sure people are safe
some terms1
Some terms

Business Continuity

An ongoing process supported and funded by senior management to ensure that the necessary steps are taken to identify the impact of potential losses, maintain viable recovery strategies, recovery plans, and continuity of services

CSA z1600

what does it really mean1
What does it really mean?

Business Continuity

  • What you do next to keep business running
why was the study and effort commissioned
Why was the study and effort commissioned?
  • Small business is over 80% of Canada's economy
  • Communities Rely on Resilient small business communities
    • Collapse of the Algo Mall in Elliott Lake
    • Hurricane Sandy
    • Goderich Tornado
  • Small business owners admit their lack of preparedness
what was discovered
What was discovered?
  • Small businesses are faced with a range of options to solve this risk?
    • Range of products
    • Range of prices (including free)
  • Appears to have had little effect
  • Only 9% of the survey sample actually put a plan in place
what was is small business looking for
What was is small business looking for?
  • A Business Continuity product
    • Clear, understandable
    • Easy to Use
    • Quantifiable business value
    • Relevant to the small and medium sized business community.
conducting the study
Conducting the Study
  • The core team
    • Mark W. Baker, a Toronto based consultant - The Industry Partner)
    • Centennial College - Provided a lead investigator, Ginette Soulieres, a marketing expert, Fred Winegust and several students, Mara Abolins, Irene Gurbein, Nitin Patkar, Jesse Preston
    • Federal Economic Development Agency for Southern Ontario’s Applied Research and Commercialization Initiative - provided funding
the extended team
The Extended Team
  • Teamedup with the Ontario BIAs and Chamber of Commerce Organizations
  • Provided us help and guidance on how to reach small business
  • Sent questionnaire out asking for Small business opinions on Business Continuity and Emergency Management
  • Thank you!!
the study in detail how
The study in detail – How?

We sampled communities across Ontario assisted by variousBusiness Improvement Area and Chamber of Commerce Organizations

the study in detail participants
The study in detail – Participants

We reached out to the Small & Medium Business segment and examined various business segments, structures and education levels

the study in detail results
The study in detail – Results

Observations about risk …

Expected not Realized

Expected and Realized

Realized not Expected

the study in detail results1
The study in detail – Results

A combination of emergencies and business related risks can stop the business cold. Small & Medium Business will only plan for business continuity risks if it was seen as a higher priority or they had the time and skill to do so

what problem are you solving2
What Problem are you Solving?

What disrupts business operations?

slide20
Business Risks and Disruptions27 different risks were identified as being expected or realized by the responding population
the study in detail results2
The study in detail – Results

Those with a plan…

  • 15 told their insurance company
    • 0 received a discount
  • 14 following best practices, business mandate
  • 14 kept their plan on paper or a word processing template
  • 8 /21 got their plan from “head office”

21 respondents had a plan

4 had to execute the plan

slide23

Planning Inhibitors & Motivators

All clusters saw business continuity as a low priority with limited time to put a plan in place as the inhibitors. Those who suffered a disaster also indicated budget was an issue. Skill set was sited by those who have not suffered a disaster

slide25

Planning Inhibitors & Motivators

Whether there is a business continuity plan in place of not, both are looking for an insurance discount. Those with no plan also want to see proof that you can get back to business faster if you have a plan in place

small business what business value do they need to see
Small Business – What business value do they need to see
  • The small and medium business market needs to see business value to invest the time and effort to produce a business continuity plan
  • The offering must be $500 and under, and take less than 5 hours to put together
  • Working with a business community level organization is critical to success.
slide27

Planning Inhibitors & Motivators

The price point which contained a stated price and some time to spend putting the plan together clustered at $500 and no more than 5 hours
we now have the program
We now have the program!
  • Invest 5 hours and $350 per participant
  • In-person support from experienced Business Continuity experts
  • Arrive with specific information about employees, suppliers and insurance
  • Leave with a complete Business Continuity Plan
  • Evolution of a workshop run in York Region and Centennial College
  • Workshop will be modified based on input from the survey from your specific community
4 5 hour program agenda
4-5 Hour Program Agenda
  • Small Business Successes – Facing the Unforeseen
    • Managing Risk
    • Case Studies
    • Insurance
  • Priorities to Protect my Business (Workshop)
  • Emergency Procedures & Crisis Communications
  • Successful Business Continuity Plans
    • Strategies for Success
    • Example Plan content
  • Plan Content Development (Workshop)
    • Content creation
    • Consulting help
    • Discussion
  • Wrap up and Next Steps
what solution is being offered
What Solution is being offered?

The Solution and What it does:

  • Business Continuity Plan
    • Faster Recovery & Cash Flow
    • Competitive Advantage
slide32

Questions?

See us that the 3PM session!