Business continuity is an organization's capacity to maintain essential functions during and after a disaster has occurred. Business continuity planning establishes risk management processes and methods that aim to prevent interruptions and re-establish full function to the organization as promptly and smoothly as possible.
It’s important to manage the risks and crisis in the business. It's significant to have a business continuity plan in place that considers any possible disruptions to operations. The plan should encourage the organization to keep running at least at a minimal level during a crisis. Business continuity enables the organization to maintain resiliency, in responding quickly to an interruption. Strong business continuity regains money, time and company reputation.
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Business continuity plans are complex and differ from company to company. Here are some general examples of what a BCP may include:
Organization’s Business continuity team implements and executes the business continuity plan. The business continuity team should comprise of a manager, assistant manager, and administrative assistant from each department.
The second step of business continuity planning is solving the operational, financial, and physical risks to your company should a disruption occur. The organization can determine these types of risks through a “business impact analysis” (BIA).
Impact Analysis reveals differences between the resources you have and the resources sill desired. Now, the team will conduct a gap analysis. A gap analysis observes a company’s recovery requirements and its current resources.
Step four of business continuity planning does just this; it observes recovery strategies for your business and interprets how to implement them.
It can improve and adapt as the business grows. It’s always a promising idea to test your business continuity plan to make sure it is beneficial, observe results and make recommendations for improvement.
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