Business Continuity defines the planning and preparation to ensure that an organization can deal with serious risks, incidents, and disasters and it also can recover to an operational state within a short period. Business continuity is a plan to deal with stressful situations. Business continuity plan considers different events such as natural disasters, fires, cyber-attacks and other external threats. Business continuity is essential for every large or small organization, but it is necessary especially for every large enterprise to maintain all the functions for the duration of a disaster. Threats and risk in any organization can increase the expenses, lost income and inability to go forward with future business plans.
Why business continuity plan is important
Not every company develops business continuity plan, but it is significant for any organization. Even sometimes the best employees cannot expect what to do in disaster or risk condition. In that condition business continuity plan is essential. Business continuity management integrates the discipline of an emergency condition, Crisis Management, and disaster recovery.
Developing Effective Business Continuity Plan
An effective business plan is made up of four stages
Define potential Risks: the first step is defining the potential risk of an organization. You can start by asking yourself what potential threats or risks you are facing. You can consider any risk from technical threats to human or natural disasters
Determine how these risks will affect the operations: once you found the risk, then you can think which risks will have the most severe impact on your business or organization.
Develop your business continuity plan: in this phase of business continuity, you will reduce the interruptions in the case of any risk or disaster. In this step, you will find out how you will recover from that risk and the resources you will need to protect your assets and business.
Implement your business continuity plan: Once you complete your project, you can distribute it to all the stakeholders and employees, and you should make ensure that they are comfortable with all the steps in the business continuity plan.
Business continuity impact Analysis
BC impact analysis is one of the most critical parts of developing business continuity plan. This part identifies the effects resulting from disruption of business functions. It also uses the whole information if the organization to make the decisions about recovery priorities and strategies.
Business continuity planning is essential for running any organization. There are many benefits for business continuity within your organization. It not only secure your data, hardware, and software but also solve the risks of your business. BC planning will make your organization more robust, and it can also strengthen your organization. Business continuity plan also helps to protect your organization’s brand, name, and reputation. Being known as a reliable company is always good for business.
You can create business continuity team with members in every part of your organization. The team members should involve in planning and testing throughout the year to keep the plan up to date.
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