Overview
Business continuity and enterprise risk management are two essential strategies that help organizations prepare for and respond to disruptions. While they share some similarities, they have distinct differences in their approaches and focuses. Companies like IBM, Deloitte, and KPMG have implemented both strategies to mitigate risks and ensure continuity. According to a report by McKinsey, effective risk management can increase a company's value by 20-30%. Meanwhile, a study by the Business Continuity Institute found that 70% of organizations that experience a major disruption go out of business within a year.