DOHA: Within the next two years, most Qatari companies, including small and medium-sized enterprises (SMEs), are expected to have a well-designed business continuity and risk management plan as integral part of their business strategy, noted a top official of Business Continuity Institute Qatar Forum.
Business continuity or risk management is to have alternative plan to protect and ensure the delivery of goods and services by an entity even in case of sudden disruption and failure in hardware/software system, data loss, human error, or disruption in supply chain for any man-made or natural disaster to keep customers happy and satisfied.
“We are expecting that within a couple of years, most of the Qatari companies, be it big or small, will have certain business continuity plan in place according to identified risks as part of their business strategy,” Abdullatif Ali Al Yafei (pictured), Chairperson of Qatar Forum, a member of the UK-based BCI, told The Peninsula.
Al Yafei, who is instrumental in organising conferences on strengthening business resilience in Qatar, added: “We are trying to create awareness business continuity through various ways, including seminars and conferences. In the past, especially before the economic blockade, many companies thought business continuity, or risk management plan, as optional. But now things have changed significantly.”
He noted that earlier many firms considered business continuity plan as expenditure not investment. They thought it is wastage of resources, but now the whole story is different. They are taking business continuity with all seriousness; especially after many SMEs faced challenges in restoring normal business operations after several months of the blockade.
Al Yafei noted that the upcoming business continuity conference, which is to be held on November 19, will be targeting all companies, but SMEs will be given special focus to help them achieve sustainability and their business target.
Commenting on the penetration of business continuity plan among local companies, he said that most companies are already aware about the importance of having a business resilience plan, but in terms of normal practices, things are improving significantly.
Asked about the business continuity resilience among government agencies, especially those responsible for supplying essential goods and services, or preparing to host the 2022 FIFA games, he said: “Officials from concerned government agencies and professionals who are working for risk management at such entities are also attending our conferences.
“They exchange their expertise with consultants… And I am sure Qatar will host one of the best FIFA games with high standards and global competence.”
