Academic study published into the survival of companies impacted by September 11th 2001

A new study commissioned by Strohl Systems has found that the majority of organisations located in the World Trade Center on September 11th 2001 that had a business continuity plan have been able to regain their pre-disaster business potential.

The study, conducted by Dr. Effy Oz of Penn State University, found that of the 25 organisations that participated, 20 regained their potential to do business at the level of September 10th, 2001 and five have yet to regain their full potential. Of those that had a business continuity plan at the time of the disaster all but two have regained their pre-disaster business potential.

The sample size was limited to organisations in the destroyed or severely damaged buildings. Since the sample size was limited by design, no definitive, statistically valid conclusions can be drawn, but general impressions can be gained. The following important statements that can be made from the study are:

* Most study participants suffered a decrease in their annual sales after September 11th;

* The majority of the organisations that responded increased their insurance spending both as a percentage of the annual budget and the annual sales;

* Organisations that responded increased their business continuity spending between 2001 and 2003;

* The cost of recovery reached millions of dollars in some cases, even when an organisation did not regain its September 10th, 2001 potential.

To obtain a copy of the report visit www.strohl.com/forms/WTCReport.asp

•Date: 11th February 2004 •Region: N.America •Type: Article •Topic: BC stats
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