Chapter 2
For Frasers Property
Implementing an effective Business Continuity Management (BCM) system requires a thorough understanding of the organisation.
This process aligns with the ISO 22301 standard for Frasers Property Limited, hereafter referred to as Frasers Property, emphasising the need to identify and evaluate internal and external factors influencing business continuity.
This chapter provides a structured approach to understanding Frasers Property in the context of BCM, which is the cornerstone of building resilience and ensuring operational excellence.
Frasers Property can proactively address potential disruptions and safeguard its long-term sustainability by thoroughly examining its structure, stakeholders, and critical processes.
Overview of Frasers Property
Frasers Property is a multinational real estate and property management company with a diversified portfolio that includes residential, commercial, industrial, and retail properties. Headquartered in Singapore, it operates in several countries, including Asia, Europe, and Australia.
Its vision of "Inspiring Experiences, Creating Places for Good" underpins its commitment to long-term sustainability and operational excellence.
Key Business Units
Frasers Property operates through the following primary business units:
- Residential Property Development: Specialising in developing sustainable residential communities.
- Commercial and Business Parks: Managing office spaces and business parks.
- Retail Management: Operating retail malls and centres.
- Hospitality Services: Providing serviced apartments and hotels through Frasers Hospitality.
- Industrial and Logistics Properties: Developing and managing warehouses and distribution centres.
Organisational Structure
The company is structured to support its global operations, with distinct divisions for each business unit and regional markets. Each division operates semi-independently but aligns with the corporate governance framework set by the headquarters.
Stakeholder Identification
Effective BCM planning begins with identifying key stakeholders whose involvement is critical for sustaining operations during disruptions. The primary stakeholders for Frasers Property include:
Internal Stakeholders
- Board of Directors
- Senior Management
- Business Unit Leaders
- Employees
External Stakeholders
- Customers and tenants
- Investors and shareholders
- Regulatory bodies (e.g., Monetary Authority of Singapore, local governments)
- Suppliers and service providers
Operating Environment Analysis
Internal Factors
Understanding Frasers Property’s internal environment involves examining its strengths, weaknesses, and operational dependencies:
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Core Strengths
- Strong brand reputation
- Diversified portfolio reducing risk exposure
- Commitment to sustainability and innovation
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Operational Dependencies:
- Reliable IT infrastructure supporting global operations
- Skilled workforce and leadership
- Key suppliers and contractors for property development and maintenance
External Factors
The external environment shapes Frasers Property’s risk profile and opportunities. Key external factors include:
- Economic Conditions: Market demand for real estate varies with economic cycles.
- Regulatory Requirements: Compliance with local and international regulations, including sustainability reporting and health and safety standards.
- Environmental Risks: Climate change impacts, such as flooding or extreme weather events, affect property assets.
- Technological Trends: Digital transformation and the adoption of PropTech solutions.
Organisational Goals and BCM Objectives
To align BCM with Frasers Property’s strategic objectives, it is crucial to define the following:
Corporate Goals
- Enhance shareholder value through sustainable growth.
- Deliver exceptional experiences to customers and tenants.
- Foster innovation and adaptability.
BCM Objectives
- Ensure uninterrupted operations during crises.
- Safeguard the well-being of employees and tenants.
- Minimise financial and reputational losses.
- Comply with ISO 22301 and other regulatory standards.
Risk Identification
Frasers Property faces many risks that must be addressed in its BCM program. This is conducted during the Crisis Scenario Risk Assessment. The risks include:
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Operational Risks
- Supply chain disruptions
- IT system failures
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Strategic Risks
- Shifts in market demand
- Emerging competitors
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Environmental Risks
- Natural disasters (e.g., earthquakes, floods)
- Climate change impacts
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Compliance Risks
- Breaches of legal or regulatory obligations
Business Impact Analysis (BIA)
Conducting a BIA enables Frasers Property Limited to prioritise critical processes and allocate resources effectively. The steps include:
Identify Critical Business Functions
- Property management services, ensuring tenant satisfaction and property upkeep.
- Tenant communication systems are vital for delivering timely updates during disruptions.
- Financial and accounting operations, ensuring compliance and operational stability.
Assess Dependencies
- Key suppliers and contractors for materials, maintenance, and services.
- IT systems and data centres that support core business operations and tenant services.
- Critical infrastructure, such as utilities and transport links, facilitates seamless operations.
Determine Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs)
- Define the maximum acceptable downtime for each function to minimise disruption.
- Establish data recovery thresholds to maintain operational integrity and continuity.
Analyse Potential Impacts
- Evaluate the financial, operational, and reputational consequences of disruptions.
- Quantify potential losses to prioritise investments in mitigation strategies.
By conducting a comprehensive BIA, Frasers Property Limited can identify vulnerabilities, strengthen resilience, and allocate resources effectively to protect critical operations.
Summing Up …
Understanding Frasers Property through the lens of ISO 22301 requirements provides the foundation for an effective BCM program.
By identifying stakeholders, analysing internal and external environments, defining goals, and assessing risks and impacts, the organisation is well-prepared to develop resilience against disruptions.
This understanding ensures continuity in delivering value to stakeholders and reinforces Frasers Property’s commitment to sustainability, operational excellence, and long-term growth in a dynamic business landscape.
Ensuring Continuity: BCM Best Practices for Frasers Property |
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Understanding Your Organisation | |||||
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More Information About Business Continuity Management Courses
To learn more about the course and schedule, click the buttons below for the BCM-300 Business Continuity Management Implementer [BCM-3] and the BCM-5000 Business Continuity Management Expert Implementer [BCM-5].