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The coverage of BCP should be all the operations and all the premises of the organization.
Understanding your business, means straighten out your risks and opportunities, with the
business impact analyses and risk assessment tools. It is possible to identify the critical points
of your business, but also, to recover the enablers for the desired result. Professor Pekka
Mattila says it clear in article “Recovering from COVID-19 requires coherence, innovation and
courage” (Mattila, 2020) that ensuring long-term survival calls for an ambidextrous approach,
as the decisions we now take and the plans we make are of crucial importance to the future
of our business operations. You need to identify the strategies to mitigate losses. Compare
their likely effectiveness against the business environment to be able to maintain the critical
functions of your businesses and develop the responses for the potential loses.
The BCP must be practical and easy to understand. Its communication must be clear, so that
it can create a focused, safe, and secure environment that is in line with the business
culture, mission, and strategies. The image of the business environment has received a new
revival in business continuity planning, as (Mattila, 2020) points out, it should also take into
account aspects of the national, administrative and global legislation.
Continuity planning must be implemented based on strategies and practices that have been
proven to be more sustainable and less vulnerable and will also enhance rapid recovery in
crisis situations. All stakeholders as employees, customers, suppliers, and shareholders are
needed to be established with the continuity culture, process, and awareness (Hopkin, 2018,
p. 207). Through exercises, test, and audits, its processes can be maintained and developed,
so it will also be cost-effective and properly proportionate to the risks and its potential
losses.
4.8 Real estate industry COVID-19 Standards
In this thesis I will concentrate on one of these companies, the SAFE Asset Group, that is a
global certification and advisory company, they have certified with SAFE Hospitality, Office,
Retail and Environment (SHORE)-standard.
As the New York Times wrote, the World Health organization warned the world about the
pandemic, but the “World was not ready for the major outbreak” (Myers & Wee 2020). Mark
Schmit (2020) in National Institute of Standards and Technology (NIST) blogs wrote that the
world manufacturing leaders see risks in their supply chains, their workforces, their standard
practices and in pulling back from innovations. European union and Finland government did
have a contingency plan in place for an influenza pandemic, but even then, the Finnish Social
and Health ministry admits after the first year of pandemic that “Finland was not sufficiently
prepared for the arrival of the coronavirus in the spring” (Luukka 2020). The roles and
responsibilities of the ministry were not clear, and the preparedness was not enough.