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certification resources
A Missing Link Between Business Resilience & Incentives? A New U.S. Law and Corporate Preparedness
November 30, 2007 4:35 PM
This article discusses the opportunity to utilize the voluntary business preparedness certification program to facilitate various bottom-line incentives for business preparedness. Click here for the full text of this article.
Key points include:
1. Market-based incentives should be integrated with this certification program. A major rationale cited in the Congressional testimony for the program was the need for a closer link between preparedness and benefits for business. Key stakeholders in such areas as insurance, legal liability, rating agencies and supply chain management have acknowledged that business preparedness is valuable and should be acknowledged, but to date there has been no widely accepted methodology to confirm that preparedness exists in a business so that it can be acknowledged and potentially rewarded.
2. Incentive providers must be involved from the beginning in the development of the certification process and its ongoing implementation. The program must be structured so the final assessment is of value to these potential incentive stakeholders and potentially justifies market-based incentives.
3. Businesses and their representative associations must also be involved from the beginning in the development of the certification program and its ongoing operation to both assure that the program has operational value as well as external incentive value.