23 Jun To establish the effectivene
To establish the effectiveness of business continuity management plans for commercial banks in Nigeria.
To establish whether the business continuity management plans are incorporated in corporate strategies.
To establish whether or not business continuity management plans implemented by commercial banks in Nigeria conform to internationally accepted standards and practices.
Research Questions:
How effective are business continuity plans of commercial banks in the case country(Nigeria) in protecting against perceived risk?
In the case country, are business continuity management plans incorporated in corporate strategies?
Do business continuity management plans implemented by commercial banks in the case country (Nigeria) conform to internationally accepted standards and practices?
Summary of the literature/ rationale for the study
According to Young (2006), business continuity management (BCM) is a relatively new concept used to protect businesses against risk. He also observed that BCM is not well-received in most developing countries. In addition, Schneid and Collins (2001) found that the effectiveness of BCM plans in building resilience and protecting businesses have not been exhaustively researched. Furthermore, Haynes (2014) noted that whether or not businesses incorporate BCM plans in corporate strategies was not known. The works of these researchers indicate that the concept of BCM is not well researched; however, application of BCM in the banking sector has been researched by Wong and Shi (2015). Since the banking sector is important to the development and proper functioning of any economy, with regard to developing countries the following questions need answers. How effective are BCM plans of commercial banks in protecting against perceived risk? Are BCM plans utilised in corporate decision making?
Another issue that need researching is the implementation of BCM plans. AsLynn and McConnell (2007) noted, most businesses are not aware whether the BCM plans they are implementing conform to internationally accepted standards and practices. Moreover, Wong and Shi (2015) found that due to ignorance of the banks management about BCM, most business continuity plans do not conform to internationally accepted standards and practices. This means that whether or not BCM plans implemented by commercial banks in developing countries conform to internationally accepted standards and practices requires to be researched.
References
Young, J. (2006). Operational Risk Management: The practical application of a qualitative approach, Van Schaik Publishers Pretoria.
Schneid, T.D. and Collins, L. (2001) Disaster Management and preparedness: Washington, Lewis Publishers. Commercial Printing Enterprise, Addis Ababa.
Lynn, T.D and McConnell, A, A. 2007. Risk and Crisis Management in the Public Sector: Routtedge; Taylor and Francis Group London.
Woodman, P. (2007) Business Continuity Management: Chartered Management Institute.
Wong, W.Z. & Shi, J. 2015. Business Continuity Management System: A Complete Framework for Implementing ISO 22301, London. Kogan Page, Discovery eBooks, EBSCOhost. Viewed 21 April 2016.
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