{"id":{"repo_id":"salford","oai_identifier":"oai:salford-repository.worktribe.com:1336929"},"canonical_url":"https://search.dev.ndltd.org/etd/salford/oai:salford-repository.worktribe.com:1336929","repository":{"repo_id":"salford","name":"U. of Salford","base_url":"https://salford-repository.worktribe.com/oaiprovider"},"display":{"title":"A critical evaluation of Business Continuity Management (BCM) in UK financial organisations","abstract":"Major events in recent years have provided evidence that the world of business is rife with risks anduncertainties. The vivid events of 9/11 (11 th September 2001) in New York, U.S. and other majorincidents, have forever changed the global perspective of managing threats to business operations.The U.K. financial sector, being the largest contributor to the national economy, needs to have robustcontingency arrangements to counter any major operational disruption. As such, this doctoral researchidentified the premise of the need to raise the status of BCM in financial organisations. Two key researchcontributions were devised based on such a premise:1. Assessing the business continuity readiness of FSA-regulated organisations by critically reviewingtheir business continuity arrangements and processes based on the theoretical standards of BCMGood Practice Guidance developed by the Business Continuity Institute (BCI);2. Further improvement to the current state of BCM in U.K. financial organisations by proposing newmeasures based on the integration of BCM theories (from literature) and good practices (from casestudies), in this case, a newly defined BCM definition and concepts with strategic importance, andthe BCM PARAGON, were developed to underpin their operational resilience.The research critically reviewed the current BCM issues, proposals, and work raised and carried out bythe U.K. financial authorities: HM Treasury, the Bank of England and the Financial Services Authority(FSA). Weaknesses were identified in the FSA's review of its regulated firms' business continuityarrangements. The research then examined the existing BCM approaches developed by U.K.government/regulatory and professional bodies. In particular, the BCM Good Practice Guidance devisedby the Business Continuity Institute (BCI) was comprehensively reviewed. The BCM Good PracticeGuidance was adopted and modified to assess the levels of readiness of participating financialorganisations in this research. This was in response to the inadequacies of the FSA's research inunderstanding BCM processes of major financial groups, which had prompted a more structured andprogressive approach to understanding the business continuity arrangements of financial organisations.Based on a critical evaluation of existing BCM definitions from various government/regulatory bodiesand financial organisations, a strategic BCM definition and concepts (based on risk management, crisismanagement, disaster recovery, and contingency planning) with strategic importance for the U.K.financial sector were proposed.The research consisted of four detailed case studies of U.K. financial organisations' business continuityarrangements. The results revealed that Case 1 was a crisis and disaster-prepared organisation due toits previous experience in disasters, Cases 2 and 3 were partially prepared while Case 4 was consideredas the unprepared case. In all cases, the element of strategic management was overlooked.From a critical evaluation of all available literature and data, a finance-based BCM PARAGONframework was developed. The framework comprised three dimensions: strategy, process, andperformance, which were evaluated by the participating organisations. The organisations confirmed thatthe PARAGON, which was developed from theory and practice, was applicable in their existing BCMprogrammes and it fostered improvement and innovation. Nevertheless, for the proposed BCMPARAGON to be more \"use-friendly\" and readily applied into financial organisations, it needed to besimplified and revised to incorporate practical comments of the participating managers. In addition, thebusiness continuity managers recommended that the proposed PARAGON should be integrated into thesenior management's high-level policy and strategic management.","abstract_html":"Major events in recent years have provided evidence that the world of business is rife with risks anduncertainties. The vivid events of 9/11 (11 th September 2001) in New York, U.S. and other majorincidents, have forever changed the global perspective of managing threats to business operations.The U.K. financial sector, being the largest contributor to the national economy, needs to have robustcontingency arrangements to counter any major operational disruption. As such, this doctoral researchidentified the premise of the need to raise the status of BCM in financial organisations. Two key researchcontributions were devised based on such a premise:1. Assessing the business continuity readiness of FSA-regulated organisations by critically reviewingtheir business continuity arrangements and processes based on the theoretical standards of BCMGood Practice Guidance developed by the Business Continuity Institute (BCI);2. Further improvement to the current state of BCM in U.K. financial organisations by proposing newmeasures based on the integration of BCM theories (from literature) and good practices (from casestudies), in this case, a newly defined BCM definition and concepts with strategic importance, andthe BCM PARAGON, were developed to underpin their operational resilience.The research critically reviewed the current BCM issues, proposals, and work raised and carried out bythe U.K. financial authorities: HM Treasury, the Bank of England and the Financial Services Authority(FSA). Weaknesses were identified in the FSA's review of its regulated firms' business continuityarrangements. The research then examined the existing BCM approaches developed by U.K.government/regulatory and professional bodies. In particular, the BCM Good Practice Guidance devisedby the Business Continuity Institute (BCI) was comprehensively reviewed. The BCM Good PracticeGuidance was adopted and modified to assess the levels of readiness of participating financialorganisations in this research. This was in response to the inadequacies of the FSA's research inunderstanding BCM processes of major financial groups, which had prompted a more structured andprogressive approach to understanding the business continuity arrangements of financial organisations.Based on a critical evaluation of existing BCM definitions from various government/regulatory bodiesand financial organisations, a strategic BCM definition and concepts (based on risk management, crisismanagement, disaster recovery, and contingency planning) with strategic importance for the U.K.financial sector were proposed.The research consisted of four detailed case studies of U.K. financial organisations' business continuityarrangements. The results revealed that Case 1 was a crisis and disaster-prepared organisation due toits previous experience in disasters, Cases 2 and 3 were partially prepared while Case 4 was consideredas the unprepared case. In all cases, the element of strategic management was overlooked.From a critical evaluation of all available literature and data, a finance-based BCM PARAGONframework was developed. The framework comprised three dimensions: strategy, process, andperformance, which were evaluated by the participating organisations. The organisations confirmed thatthe PARAGON, which was developed from theory and practice, was applicable in their existing BCMprogrammes and it fostered improvement and innovation. Nevertheless, for the proposed BCMPARAGON to be more "use-friendly" and readily applied into financial organisations, it needed to besimplified and revised to incorporate practical comments of the participating managers. In addition, thebusiness continuity managers recommended that the proposed PARAGON should be integrated into thesenior management's high-level policy and strategic management.","abstract_has_math":false,"creators":["Wong, WNZ"],"institution":null,"degree_name":null,"degree_level":"Doctoral (Level 8)","degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2007,"date_issued":"2007","date_published":"2007","updated_at":"2026-07-24T04:26:09Z","subjects":[],"languages":["en"],"rights":[],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["oai:salford-repository.worktribe.com:1336929"],"render_values":[{"text":"oai:salford-repository.worktribe.com:1336929","href":null,"code":true}]}]},"links":{"outbound_url":null,"outbound_label":null,"outbound_source":null},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.sponsor","label":"Sponsor","values":["University of Salford"]},{"key":"dc:creator","label":"Author","values":["Wong, WNZ"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2007-01-01"]},{"key":"dc:date.issued","label":"Date","values":["2007"]},{"key":"dc:relation.isreferencedby","label":"Dc Relation Isreferencedby","values":["https://salford-repository.worktribe.com/output/1336929"]},{"key":"dc:type","label":"Dc Type","values":["Thesis"]},{"key":"dc:type.qualificationlevel","label":"Dc Type Qualificationlevel","values":["Doctoral (Level 8)"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["en"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["oai:salford-repository.worktribe.com:1336929"]},{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://salford-repository.worktribe.com/file/1336929/1/10406727.pdf"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["Major events in recent years have provided evidence that the world of business is rife with risks anduncertainties. The vivid events of 9/11 (11 th September 2001) in New York, U.S. and other majorincidents, have forever changed the global perspective of managing threats to business operations.The U.K. financial sector, being the largest contributor to the national economy, needs to have robustcontingency arrangements to counter any major operational disruption. As such, this doctoral researchidentified the premise of the need to raise the status of BCM in financial organisations. Two key researchcontributions were devised based on such a premise:1. Assessing the business continuity readiness of FSA-regulated organisations by critically reviewingtheir business continuity arrangements and processes based on the theoretical standards of BCMGood Practice Guidance developed by the Business Continuity Institute (BCI);2. Further improvement to the current state of BCM in U.K. financial organisations by proposing newmeasures based on the integration of BCM theories (from literature) and good practices (from casestudies), in this case, a newly defined BCM definition and concepts with strategic importance, andthe BCM PARAGON, were developed to underpin their operational resilience.The research critically reviewed the current BCM issues, proposals, and work raised and carried out bythe U.K. financial authorities: HM Treasury, the Bank of England and the Financial Services Authority(FSA). Weaknesses were identified in the FSA's review of its regulated firms' business continuityarrangements. The research then examined the existing BCM approaches developed by U.K.government/regulatory and professional bodies. In particular, the BCM Good Practice Guidance devisedby the Business Continuity Institute (BCI) was comprehensively reviewed. The BCM Good PracticeGuidance was adopted and modified to assess the levels of readiness of participating financialorganisations in this research. This was in response to the inadequacies of the FSA's research inunderstanding BCM processes of major financial groups, which had prompted a more structured andprogressive approach to understanding the business continuity arrangements of financial organisations.Based on a critical evaluation of existing BCM definitions from various government/regulatory bodiesand financial organisations, a strategic BCM definition and concepts (based on risk management, crisismanagement, disaster recovery, and contingency planning) with strategic importance for the U.K.financial sector were proposed.The research consisted of four detailed case studies of U.K. financial organisations' business continuityarrangements. The results revealed that Case 1 was a crisis and disaster-prepared organisation due toits previous experience in disasters, Cases 2 and 3 were partially prepared while Case 4 was consideredas the unprepared case. In all cases, the element of strategic management was overlooked.From a critical evaluation of all available literature and data, a finance-based BCM PARAGONframework was developed. The framework comprised three dimensions: strategy, process, andperformance, which were evaluated by the participating organisations. The organisations confirmed thatthe PARAGON, which was developed from theory and practice, was applicable in their existing BCMprogrammes and it fostered improvement and innovation. Nevertheless, for the proposed BCMPARAGON to be more \"use-friendly\" and readily applied into financial organisations, it needed to besimplified and revised to incorporate practical comments of the participating managers. In addition, thebusiness continuity managers recommended that the proposed PARAGON should be integrated into thesenior management's high-level policy and strategic management."]},{"key":"dc:title","label":"Title","values":["A critical evaluation of Business Continuity Management (BCM) in UK financial organisations"]}]}],"canonical_facts":{"dc:contributor.sponsor":["University of Salford"],"dc:creator":["Wong, WNZ"],"dc:date":["2007-01-01"],"dc:date.issued":["2007"],"dc:description.abstract":["Major events in recent years have provided evidence that the world of business is rife with risks anduncertainties. The vivid events of 9/11 (11 th September 2001) in New York, U.S. and other majorincidents, have forever changed the global perspective of managing threats to business operations.The U.K. financial sector, being the largest contributor to the national economy, needs to have robustcontingency arrangements to counter any major operational disruption. As such, this doctoral researchidentified the premise of the need to raise the status of BCM in financial organisations. Two key researchcontributions were devised based on such a premise:1. Assessing the business continuity readiness of FSA-regulated organisations by critically reviewingtheir business continuity arrangements and processes based on the theoretical standards of BCMGood Practice Guidance developed by the Business Continuity Institute (BCI);2. Further improvement to the current state of BCM in U.K. financial organisations by proposing newmeasures based on the integration of BCM theories (from literature) and good practices (from casestudies), in this case, a newly defined BCM definition and concepts with strategic importance, andthe BCM PARAGON, were developed to underpin their operational resilience.The research critically reviewed the current BCM issues, proposals, and work raised and carried out bythe U.K. financial authorities: HM Treasury, the Bank of England and the Financial Services Authority(FSA). Weaknesses were identified in the FSA's review of its regulated firms' business continuityarrangements. The research then examined the existing BCM approaches developed by U.K.government/regulatory and professional bodies. In particular, the BCM Good Practice Guidance devisedby the Business Continuity Institute (BCI) was comprehensively reviewed. The BCM Good PracticeGuidance was adopted and modified to assess the levels of readiness of participating financialorganisations in this research. This was in response to the inadequacies of the FSA's research inunderstanding BCM processes of major financial groups, which had prompted a more structured andprogressive approach to understanding the business continuity arrangements of financial organisations.Based on a critical evaluation of existing BCM definitions from various government/regulatory bodiesand financial organisations, a strategic BCM definition and concepts (based on risk management, crisismanagement, disaster recovery, and contingency planning) with strategic importance for the U.K.financial sector were proposed.The research consisted of four detailed case studies of U.K. financial organisations' business continuityarrangements. The results revealed that Case 1 was a crisis and disaster-prepared organisation due toits previous experience in disasters, Cases 2 and 3 were partially prepared while Case 4 was consideredas the unprepared case. In all cases, the element of strategic management was overlooked.From a critical evaluation of all available literature and data, a finance-based BCM PARAGONframework was developed. The framework comprised three dimensions: strategy, process, andperformance, which were evaluated by the participating organisations. The organisations confirmed thatthe PARAGON, which was developed from theory and practice, was applicable in their existing BCMprogrammes and it fostered improvement and innovation. Nevertheless, for the proposed BCMPARAGON to be more \"use-friendly\" and readily applied into financial organisations, it needed to besimplified and revised to incorporate practical comments of the participating managers. In addition, thebusiness continuity managers recommended that the proposed PARAGON should be integrated into thesenior management's high-level policy and strategic management."],"dc:identifier":["oai:salford-repository.worktribe.com:1336929"],"dc:identifier.uri":["https://salford-repository.worktribe.com/file/1336929/1/10406727.pdf"],"dc:language":["en"],"dc:relation.isreferencedby":["https://salford-repository.worktribe.com/output/1336929"],"dc:title":["A critical evaluation of Business Continuity Management (BCM) in UK financial organisations"],"dc:type":["Thesis"],"dc:type.qualificationlevel":["Doctoral (Level 8)"]},"updated_at":"2026-07-24T04:26:09Z"}