ED 52 (Nov-Dec 2013)

COMMENTARY
COMMENTARY
Pandemic
Preparedness
Is your business
protected against
disease?
How prepared is your business for
pandemic outbreaks?
That is the question asked during the
National Security Conference 2013,
organised by the Singapore Business
Federation (SBF) on 25 October 2013.
Against the backdrop of the Severe
Acute Respiratory Syndrome (SARS)
epidemic that paralyzed the nation in
2003 and the more recent outbreak
of the MERS virus in the Middle East
last year, infectious diseases have
far-reaching consequences on not
just the general public but also on
businesses as well.
The annual National Security
Conference this year aims to raise
awareness on the enduring severity
of the pandemic threat, a timely
reminder ten years after the SARS
outbreak. Businesses must be able
to account not just for the inevitable
manpower shortfall during times
of crisis, but must also have a
framework in place to bolster their
business processes in response to
the swift changes brought on by any
contagion.
“Complacency or failure to plan
for such contingencies can have
substantial business impact,” said
Mr Gan Kim Yong, Minister for
Health, during the Conference, “The
World Bank estimated that a severe
inuenza pandemic could cost up to
$3 trillion and result in a nearly 5 per
cent drop in world GDP.” When SARS
struck Singapore in 2003, visitors fell
an appalling 67 per cent in a month
and hotel occupancy rates drastically
dropped from 75 per cent to only 20
per cent.
“There is a clear need for business
and nancial services to be prepared
for such crises to mitigate the impact
on their operations,” Mr Gan added.
In a panel discussion themed
“Unmasking the Pandemic Threats”,
several topics and issues on
measures to mitigate damage from
pandemic threats were raised. The
panel was composed of academia,
Government representatives and
business leaders, many of whom lent
credence to the topic using anecdotal
evidence.
However, the crucial message
from the panel discussion can be
summed up in a single word: when.
Pandemic response is no longer a
question of ‘if’, but rather a question
of ‘when’ - when will the next SARS,
H1N1 or MERS hit? When it nally
arrives, are your business continuity
management programmes adequate
enough to tide through the crisis?
And for businesses without any
concrete measures in place to
confront the very-real specter of the
pandemic threat, when will your luck
run out? E
18
NOV DEC 2013
ENTREPRENEURS’ DIGEST