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The Client and Its Challenge
Recognized as one of the largest mid-size media companies in the nation, this client was active in the areas of newspaper publishing, outdoor advertising, radio broadcasting, book publishing and distribution, and commercial printing. Since a large portion of its diverse revenue stream came from a single newspaper, it could not afford the loss of this critical asset. It took its responsibility – as the primary news outlet for many of the communities it served – very seriously.
The client had not quantified its business interruption exposure and was planning to implement a shared services operating model. Both issues magnified the need to develop a detailed business continuity plan (BCP), as the loss of a single operation could affect multiple business units.
The Risk Consulting Solution
Over several months, Marsh met with the client, introducing it to the concepts and benefits of having a business continuity plan. The client was initially interested in a pilot BCP engagement at one of its newspaper locations. After several meetings and a review of the Marsh BCP methodology, the client expanded the scope to include two newspapers, its shared services operations, as well as its corporate operations.
Following the Marsh BCP methodology, Marsh consultants:
- Identified overall strategic objectives for response and recovery
- Created an organizational structure to implement the formulated strategic objectives
- Provided an operating model to respond to the incident/crisis
- Completed a business impact analysis (BIA)
- Performed a gap analysis between needs and current capabilities
- Identified strategies to close the gap(s)
- Selected and implemented the chosen strategies
- Documented the business continuity plan
- Tested the plan and trained internal personnel
Results
During the independent business process review of the acquired engineering firm, Marsh consultants determined that, overall, the acquired firm was found to have strong operational policies and procedures. However, these practices were essentially undocumented. Marsh consultants also identified several opportunities for improvement and presented them to senior management for implementation.
With experience in the news media, Marsh was able to guide the client in the BCP development process. The engagement provided the client:
- A business continuity strategy based upon its critical business functions
- A risk management program with clearly defined roles and responsibilities
- Well-documented plans, including information technology, business relocation, manual workarounds, and data restoration
- The ability to quantify its business interruption exposure and purchase the appropriate insurance coverage
The client plans to apply the Marsh BCP methodology as it develops business continuity plans for its remaining newspapers.
If you have any questions or would like additional information, please contact us.
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