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Bacolod City, Philippines Monday, August 24, 2020
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Business recovery framework issued
BY MARCHEL P. ESPINA

 

The Metro Bacolod Chamber of Commerce and Industry has issued a framework that businesses and local government units could adopt for recovery amid the coronavirus pandemic.

Frank Carbon, chief executive officer of MBCCI, said the framework could be adopted for “recovery, rebound, and renewal.”

Under the “Business Continuity Planning: A Framework”, Carbon emphasized the need to determine the impact of Covid-19 that triggered the “new normal”.

He said it is important to identify the social, economic, and business impacts of the health crisis, and develop a framework for short and long-term plans throughout the four stages.

He added it is also important to identify the imperatives, indicators, and timeline for each stage.

In the initial stage or response, Carbon said that in the first three months, businesses and LGUs should tackle immediate priorities while minimize the risk impact, while in the second stage, or recovery, with a timeline of three to six months post-quarantine, there is a need for stabilization amid the recession threat with activated contingencies.

For the third stage, or rebound, it is important to revitalize plans with realigned important goals to bounce back within the “new normal”, with a timeline of six to 15 months post-quarantine or in 2021, he said.

For the final stage, or renewal, business and LGUs should pursue transformative actions to impact the “next normal”, as well as re-establish routines with enduring and renewed perspectives and behavior, he said, adding that its timeline is 2022 to 2023.

He said the business continuity plan needs the support of the LGUs “for us to recovery and rebound.”*

 

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