Theory rewritten: Business Continuity and Crisis Management in the wake of the Covid-19 pandemic

ABSTRACT

Airmic, the UK's association for risk professionals, conducted a meeting of its Enterprise Risk Management Special Interest Group in June 2020, and a survey of risk professionals in August 2020, which found that the pandemic had amplified the challenges of a siloed approach to Business Continuity Management and Crisis Management. They have clearly highlighted the disconnect between strategic risk on the one hand and operational resilience and response on the other. Crisis management and business continuity need to adapt, to better meet the challenges posed by systemic crises such as the Covid-19 pandemic. The trajectory of the pandemic?as a crisis?will likely continue over several years;yet, the initial responses had been largely focused on the near- and shorter term. It is more difficult to look long term when the crisis timeline loops back because of further waves of the pandemic. Our findings indicate that the pandemic has modified crisis and business continuity thinking, and that organizations are actively reviewing and changing their strategic approach to resilience.