Keywords
Social
Life Cycle Assessment
Hazard Identification
Business Continuity Maturity Model
How to Cite
Abstract
In today’s disruption-driven era, organizational resilience is crucial for sustaining business continuity, particularly in the banking sector, which underpins economic stability. Nevertheless, existing Business Continuity Maturity Models (BCMMs) predominantly focus on governance and risk-based perspectives, with limited integration of environmental and social dimensions. This study addresses this gap by developing and empirically validating environmental and social parameters for inclusion in a BCMM to enhance organizational sustainability in the banking industry. This study commenced by mapping the environmental and social perspectives influencing business continuity and organizational resilience within the banking industry. Environmental aspects were analyzed using the Life Cycle Assessment (LCA) approach and Global Warming Potential (GWP), while social aspects were examined through Hazard Identification and Risk Assessment (HIRA), control determination, and mapping to Emergency Response Preparedness (ERP). The identified parameters were subsequently validated through expert judgment using the Content Validity Index (CVI). The results identify nine environmental and eight social parameters that significantly contribute to organizational resilience. Integrating these parameters strengthens BCMM frameworks by aligning business continuity practices with sustainability and resilience objectives in the banking sector.
References
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