The system of business continuity management and its mechanism for ensuring the sustainability of an economic entity

The economy transformation under sanction-restrictive conditions requires revising the strategy of functioning of domestic business, in which due attention should be paid to issues of monitoring of business continuity of organizations. The ability of management personnel to ensure the sustainability of an economic entity and its further existence in the near future has a direct impact on the well-being of the state. Transformation of the internal infrastructure is the basis for risk control and maintaining the stability of a company, which is ensured by the internal control system. In this regard, the management of the business continuity system is considered as a catalyst accelerating fundamental changes in business processes, engineering and technologies, their adaptability to new realities and identification of the need for reengineering. The study of international regulations in the field of risk management and business continuity management allowed identifying that the possibility of high-quality, correct and timely maintenance of internal company processes requires proactivity of the internal control system. As a result of historical insight, the concept of business continuity management is revealed both from the standpoint of company recovery and as a prophylactic measure to prevent a crisis and its consequences. The authors propose a structured mechanism for business continuity management in accordance with ISO standards, which describes the activities of economic entities as a set of obligations assumed by the organization and as a result conditioned by a specific type of activity, with the disclosure of elements including operational planning and management; business impact analysis and risk assessment; business continuity strategy and decisions; continuity plans and procedures; training program; assessment of documentation and capabilities for ensuring business continuity; implementation of business continuity management in the company’s traditions.