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You searched Library Catalogue - Title: McGraw-Hill Electronic testing handbook: procedures and techniques
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Call Number (WOU)
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SP CEMBA 2018 91
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Author
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Tho, Mei Yee
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Title
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Key challenges in implementing effective business continuity management strategies among financial institutions in Malaysia in preparation for disasters. / Stephanie Tho Mei Yee.
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Abstract
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In today’s business environment financial institutions are exposed to various threats when doing business. Natural disaster, cyber security threats and failure of information technology infrastructure are some of the examples of catastrophe that will directly or indirectly impact the survival and the sustainability of these organisations. Therefore financial institutions need to have in place a business continuity management (BCM) program and strategies that is resilient to withstand any disaster. This is to ensure that operations in the financial institutions continue swiftly during and after any unintended events. A resilient and strong BCM program can only executed successfully if the implementation of the program is done effectively. Thus, this study investigates the key challenges or elements that effect the implementation of effective BCM in Malaysia’s financial institutions. The study was undertaken using questionnaire whereby 125 respondents participated in this survey. As it is mandated by central banks for all financial institutions namely commercial banks and its affiliates to put in place strong business continuity plan, responses were taken from all the 125 participant regardless of the availability of business continuity plan (BCP) within their department. This is because implementation of BCM impacts the entire enterprise and involved all level of organisation and cover all related critical business process, therefore all responses were accepted. Findings show that knowledge and information, specialized staff and prioritization are key challenges that impact the implementation of BCM strategies in Malaysia’s financial institutions. While perceived high cost and apathy are seemed not the factors influencing the implementation of BCM within the financial institutions. The results of this study have two implications; firstly to identified the barriers of implementation of effective BCM strategies and secondly the extent of the factors influencing the implementation. The findings will provide financial institutions insights to the obstacles impacting the implementation of their already existing BCM strategies and also enable financial institutions to plan and implement improvements as needed at an appropriate rate of each barrier that is determine to be impacting the effectiveness of the implementation of BCM strategies.
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Notes
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Final project report submitted in partial fulfilment of the requirements for the Degree of Master of Business Administration (CeMBA).
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Publisher/Year
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Penang : School of Business and Administration, Wawasan Open University, 2018.
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Subject
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Financial institutions -- Malaysia.
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