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| 'Indian biz behind global cos in contingency preparedness' |
| Press Trust of India / New Delhi Sep 20, 2009, 14:42 IST |
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Indian companies lag far behind their global peers when it comes to their preparedness for any natural or man-made disasters, which may throw them out of operation, even as awareness about it has grown significantly, global consultancy Deloitte says.
According to the Deloitte survey, while Indian business houses have taken appropriate steps to ensure business continuity management (BCM) or preparedness for contingencies, there is limited involvement of dedicated resources for BCM in terms of both personnel as well as budgetary allocation.
"Business continuity management refers to preparedness of companies to deal with any man-made or natural contingencies. Indian businesses are not that resilient with most of them not having a comprehensive plan in place and less than three employees on an average dedicated for business continuity management," Deloitte Senior Director (Enterprise Risk Services) Nitin Khanapurkar told PTI.
However, he said, "the terror attacks in Mumbai and the Bihar floods have acted as a wake up call for companies, awareness about continuity management is increasing significantly but Indian firms still have a long way to go before they can catch up with their global peers."
The study said amid growing awareness of BCM, its growth was inhibited due to lack of understanding of a comprehensive continuity management program.
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