Ebola, Bird Flu, Swine Flu, SARS. There have been several times in recent years when the news headlines have been filled with stories of pandemics occurring in some part of the world, or at least are threatening to. Some never materialise into anything more substantial than a threat, but the fear of the potential impact still remains.
The latest Horizon Scan Report by the Business Continuity Institute put human illness in 13th place on the list of disruptive events that business continuity professionals are most concerned about. 38% of respondents to a global survey expressed concern about the prospect of this threat materialising, although this was a decrease from 2015 when it was in 8th place with 42% expressing concern.
So how prepared are we to deal with a pandemic outbreak and the impact it could have on our organizations. Do we know what impact it could have? In the latest edition of the BCI's Working Paper Series, Dezheng Yuan AFBCI uses three simplified financial models to elaborate on the impact of pandemic transmission speed to the business continuity of organizations and advised solutions. In his paper, Dezheng explains how slower pandemic transmission speed could enable more effective cross-region back-up plans of organizations which could reduce financial losses.
Among other things, Dezheng concludes that, even if the final morbidity and mortality rates remain the same, the efforts paid to delay the spread of the infectious diseases are still justified from the viewpoint of business continuity management.
"Concerns about the wholesale outbreak of disease are not that far-fetched considering the historical record which makes Dezheng Yuan’s paper relevant", says Patrick Alcantara DBCI, Senior Research Associate at the BCI and Editor of the Working Paper Series. "His methodology is relatively more technical than most of the works we have published in this series but lends itself well to practical solutions which he enumerates at the end of his piece. Indeed, his work demonstrates the depth of thinking in our professional community which we aim to feature in this publication."
Download your free copy of 'The effect of pandemic transmission speed on business continuity' to understand more about the potential impact a threat a pandemic could have on your organizations, and what you can do to mitigate against it.