Continuity and catastrophe: business continuity management and the security of financial operations

Folkers, Andreas

doi:10.1080/03085147.2017.1307650

Cited by 11 publications

(9 citation statements)

References 58 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The global scale of the crisis, affecting almost every national economy, industry, business or private household on the planet (though to different extents, of course) renders the attempt to rationally predict the future illusionary. The instruments our capitalist society usually employs to cope with -or even take advantage of -the indeterminacy of the future, such as forecasts, insurance, risk analyses or risk scenarios (Evans, 2002;Folkers, 2017;Lobo-Guerrero, 2014), are overwhelmed by levels of uncertainty unprecedented since the Second World War. Calculating the future, like the men in grey postulate, is rendered impossible.…”

Section: The Coronavirus Pandemic and The Collision Of Opposing Temporal Logicsmentioning

confidence: 99%

The coronavirus and the temporal order of capitalism: Sociological observations and the wisdom of a children’s book

Suckert

2021

The Sociological Review

View full text Add to dashboard Cite

The coronavirus is not only a medical threat but also collides with the temporal logic inherent to capitalism. While capitalism demands constant growth, acceleration and efficiency, the outbreak urges societies to reduce, slow down and be patient. This article provides a sociological comment on the pandemic that focuses on the role of time and temporality. It explores the multiple ways in which the required responses to Covid-19 are at odds with the temporal order of capitalism. In the midst of crisis, the specific features, contradictions and weaknesses of the time regime governing modern societies become even more apparent – and make sociological scrutiny more necessary than ever. While this comment relates to the insights provided by the sociology of time, it uses a children’s book to illustrate its argument. Drawing on Michael Ende’s story of the orphan girl Momo and the grey gentlemen who steal people’s time, I recapture the main features of capitalism as a time regime: measurement and commodification of time, temporal expansion, acceleration, appropriation of the future, and unequal temporal autonomy. The current pandemic challenges both individual and collective temporalities that are governed by these temporal imperatives of capitalism. I conclude with reflections on the feasibility of a more sustainable temporal order that Michael Ende’s novel hints at and suggest how sociological research could support such an endeavour in the current crisis.

show abstract

Section: The Coronavirus Pandemic and The Collision Of Opposing Temporal Logicsmentioning

confidence: 99%

The coronavirus and the temporal order of capitalism: Sociological observations and the wisdom of a children’s book

Suckert

2021

The Sociological Review

View full text Add to dashboard Cite

show abstract

“…Different from crisis management's defensive and reactive characteristics, risk management is proactive in nature, involved in the identification of potential risks for the organization and the development of measures in advance to deal with these risks. As one of the most recent risk management frameworks (Torabi et al, 2016) and a generic risk management strategy (Folkers, 2017), BCM can be used as an appropriate tool to ensure that the outputs of processes and services can be delivered in the face of risks (Gibb and Buchanan, 2006), whether they are preventable risks, strategy risks or external risks COVID-19, business continuity management (Kaplan and Mkikes, 2012). In most cases, BCM is a sub-domain or subset of risk management (Krell, 2006) or can be considered complementary to operational risk management in improving the efficiency of an organization in delivering a product or providing a service (Bonafede et al, 2007).…”

Section: Crisis Management Risk Management and Business Continuity Ma...mentioning

confidence: 99%

“…With standardization, BCM became increasingly recognizable as a distinctive approach to protecting against, reducing the likelihood of the occurrence of, preparing for, responding to and recovering from disruptions, as standards are mostly comprised of a series of existing strategies and presented as a “holistic management process” (ISO, 2012a). The establishment of a series of standards provided a crucial step in the proliferation and stabilization of BCM (Folkers, 2017), yet was not so much the outcome of national regulations but rather the effect of international standards (ISO, 2012b).…”

Section: Literature Review: Business Continuity Management and Standa...mentioning

confidence: 99%

COVID-19, business continuity management and standardization: case study of Huawei

Chen

2022

CMS

View full text Add to dashboard Cite

Purpose This paper aims to theoretically and empirically demonstrate the role played by business continuity management (BCM) to address risks such as trade conflicts and natural disasters. This paper also answers whether compliance with international standards such as the International Organization for Standardization (ISO) 22301 is adequate. Design/methodology/approach A case study of Chinese telecommunications giant Huawei is conducted to examine how a robust end-to-end BCM system has been established in two decades and in what way it has helped Huawei to efficiently maintain growth under pressure, such as being added to the “Entity List” and the pandemic. Findings Huawei case contributes to BCM theory in its approach to establishing the BCM system and its well-established BCM model. Huawei establishes and continually improves its BCM system by applying the Plan (establish), Do (implement and operate), Check (monitor and review) and Act (maintain and improve) cycle. Characterized as 4Ps: BCM policy, BCM process, incident management plan and business continuity plan, Huawei BCM system is shaped into a loop with end-to-end BCM process, covering all steps along its value chain – from suppliers and partners to Huawei itself and then on to its customers – with key initiatives for all domains such as R&D, procurement, manufacturing, logistics and global technical services. In practice, implementing international standards such as ISO 22301 enables Huawei to develop business continuity but not enough. Optimizing the BCM system is an ongoing effort, and BCM maturity is ever present: continually improving Huawei’s own BCM system and benchmarking against best practices available worldwide. Research limitations/implications Apart from the case study, other methods such as counter-factual analysis can be used to further test whether Huawei’s BCM system is cost-effective. Another direction for future study is whether suggested BCM maturity levels should be supplemented into ISO 22301. In the digital age, how to use digitalization to ensure business continuity is a current issue not just for practitioners such as Huawei but also for researchers worldwide. Practical implications In practice, implementing international standards such as ISO 22301 enables Huawei to develop business continuity but not enough. Optimizing the BCM system is an ongoing effort, and BCM maturity is ever present: continually improving Huawei’s own BCM system and benchmarking against best practices available worldwide. Originality/value To the best of the authors’ knowledge, this is one of the first studies to focus on how an organization continually improves the suitability, adequacy and effectiveness of its BCM system, with special attention to standards compliance.

show abstract

“…Es handelt sich um Risiken, die die Organisation und den Geschäftsbetrieb der Banken selbst betreffen, ihre alltäglichen Arbeitsvorgänge, ihre sozio-technischen Prozesse und ihre materiellen wie auch räumlichen Vollzüge, die durch Notfälle aller Art unterbrochen werden können. Innerhalb der mittlerweile überbordenden sozialwissenschaftlichen Literatur zum Umgang mit Risiken während und seit der Finanzkrise ist der Umgang von Banken mit operativen Risiken erstaunlicherweise bisher kaum (Beunza und Stark 2003, Power 2005, Pelzer 2007, Brückner und Wolf 2014) und das BCM so gut wie gar nicht behandelt worden (Folkers 2017a). Den Vorbereitungen von Banken auf nicht unmittelbar marktbezogene Katastrophen wie Stromausfälle, Terroranschläge, Pandemien und Naturkatastrophen wurde bisher kaum sozialwissenschaftliche Aufmerksamkeit zuteil.…”

Section: Autopoiesis Jenseits Gewohnter (Infra)strukturenunclassified

Das Sicherheitsdispositiv der Resilienz

Folkers

2020

View full text Add to dashboard Cite

In einer Welt, in der alte Gewissheiten prekär werden, ist Sicherheit zu einer zentralen Wertvorstellung geworden. Terroranschläge, Naturgefahren, Pandemien, Ausfälle vitaler Infrastrukturen und technische Störfälle führen immer wieder vor Augen, dass es "keine hundertprozentige Sicherheit" gibt. Als Alternative zum Versprechen von Sicherheit wird in jüngster Zeit verstärkt das Leitbild der Resilienz ins Spiel gebracht - die Fähigkeit, Risiken und Gefahren erfolgreich zu bewältigen. Dieses Buch untersucht die komplexe Sicherheitslandschaft der Gegenwart. Es befragt Praktiken der Sicherheit nach ihrer historischen Herkunft und ihren sozialen Effekten und versucht, unser Verständnis von "Sicherheit" zu verunsichern. https://creativecommons.org/licenses/by-nc-nd/4.0/

show abstract

Continuity and catastrophe: business continuity management and the security of financial operations

Cited by 11 publications

References 58 publications

The coronavirus and the temporal order of capitalism: Sociological observations and the wisdom of a children’s book

The coronavirus and the temporal order of capitalism: Sociological observations and the wisdom of a children’s book

COVID-19, business continuity management and standardization: case study of Huawei

Das Sicherheitsdispositiv der Resilienz

Contact Info

Product

Resources

About