External Stakeholders that Should be Involved in BCCM Planning (Essay Sample)

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External Stakeholders that should be involved in BCCM Planning
Business is a practice that for many years has been as a preserve of the private sector. However this is not the case and the notion that only private entities carry out business is fast dying as governments and other non-private organizations are increasingly taking part in business activities (Blyth 6). The trend has given a new meaning to BCCM (Business Crisis and Continuity Management) with a number of external stakeholders becoming relevant in BCCM planning.
The external stakeholders that need to get involved in BCCM planning include bankers, brokers, investment advisors, community leaders, creditors, contractors, financial markets and business leaders among others. All these stakeholders can play a significant role in the success and continuity of a business (Shaw 2). Their contribution can boost a business’ efforts to manage challenges that face at different stages of operations.
Adversarial groups such as government regulators have the capacity to influence the strategies set by businesses depending on the laws set in place to govern business operations. As such their role in response and recovery activities that are in line with the BCCM plans and programs cannot be underestimated (Blyth 34). Working with such stakeholders can help businesses to ensure that their interests are considered and well addressed especially those that relate to the survival of the industry in which the business operates. All the other stakeholders’ rol...