KAMPALA, 31st July 2019: In furtherance of one of its key corporate values, integrity, and good corporate governance, Crown Beverages Ltd conducted a full-day refresher course for the Top Management Team (TMT) on Enterprise-wide Risk Management (ERM), and Business Continuity Planning and Disaster Recovery (BCP/DR)training in accordance with International Organisation for Standardisation (ISO) 31000:2018 and ISO 22301, respectively. Speaking at the opening of the training, Mr. Paddy Muramiirah, CBL Chief Executive Officer (CEO) said that “We are a beverages company. Our products already undergo extensive quality control mechanisms as part of our risk management. However, as a learning organization, we…
Role of the board in Business Continuity Planning and Disaster Recovery (BCP/ DR)
No company should get ready. It should stay ready. That way, there are no surprises. The case of fire at one of Toyota offices in Kampala that led to loss of a brand-new car worth over US $100,000 to fire is still. Indeed, many disasters have happened and caused some businesses to collapse altogether. The easiest solution to such risk management is insurance. However, one must insure risk which is transferable. Risks like loss of goodwill, reputation, intellectual property and inconveniences are not transferable and therefore cannot be solved by insurance. Accordingly, Insurance cannot pay for lost time, goodwill and…