VUCA Framework for COVID-19 – Virtuos Digital

TRANSFORMING IN TOUGH TIMES

The world has not come to an end. Pandemics aren't your usual business disruption. VUCA — Volatility, Uncertainty, Complexity, and Ambiguity has a new framework to transform into new "VUCA" — Virtuosity, Ubiquity, Continuity, and Adaptability in the tough times. Unfolding over months, these critical events require an extra set of activities that include consultations with epidemiologists, critical role identiﬁcation, and third-party evaluations.

ORGANIZATION’S RESILIENCE RISKS

Businesses must understand the limitations and interdependencies of every aspect of risk that can affect their ability to be resilient. Although IT managers are naturally most concerned about computer risks, remember that the biggest risk that any company takes relates to the market. Can the company sell a product that is compelling enough to generate enough profit to maintain a viable business? Nothing else is more important. The next most important risk relates to the availability of capital and cash flows.

Environmental
Natural Disasters
Facility
Country
Biohazard
Biological Disease/Pandemic
Geopolitical
Social Unrest/Networking
Information Technology
Cybersecurity
Legal and Regulatory
Third Party
Business Process
Separation of Duties
Workforce
Corporate Culture

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PANDEMICS: A BCM SCENARIO

Business Continuity Management (BCM) is defined as the process to coordinate, facilitate, and execute activities that ensure effectiveness.

STEPS:

Identifying and mitigating operational risks before they occur;
Responding to disruptive events (natural and man-made, accidental and intentional);
Recovering mission-critical business operations after disruptive events; and
Conducting an event post mortem to improve future recovery operations

BCM is composed of emergency response/management (dynamic and situational), crisis management, IT disaster recovery management (IT DRM), business recovery, contingency planning (all scenario-based planning efforts) and supply chain availability.

BUSINESS CONTINUITY MANAGEMENT
PROGRAM PHASES

Organizational Resilience Program Diagram

Preparedness

This first phase of an organizational resilience program includes activities related to identifying all organizational risks and assessing their potential impact on the organization.

Mitigation

This second phase of an organizational resilience program includes activities related to reducing organizational risk through the elimination of the risk, or reducing the business impact of the risk if it is exploited.

Response

This third phase of an organizational resilience program includes activities related to responding to an organizational risk that disrupts business operations.

Recovery

This fourth phase of an organizational resilience program includes activities related to recovering business operations after a business disruption.

Restoration

This fifth phase of an organizational resilience program includes activities related to returning the organization to a state of "new normal" after a business disruption.

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Volatility (Vulnerability), Uncertainty, Complexity and Ambiguity - Framework by Virtuos VUCA