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What percentage of those businesses have developed a business continuity plan is unclear, but one thing is certain: it’s better to have one than not. Because a business continuity plan is a process by which businesses can prepare themselves to weather the potential threats that are always on the horizon, keeping their project plans, schedules and processes intact.A business continuity plan (BCP) is a plan to assist a business when and if there’s an emergency or potential threat to its solvency.Business Continuity Planning is best conducted by following industry standards and best practices.
It’s like having the fire extinguisher behind glass, only to be broken in case of an emergency.
You set it up once, then don’t have to think about it until you do, in which case you’ll sure be glad you installed that fire extinguisher. There will always be aspects of potential risks that are beyond your ken, but that’s why they’re called risks. Make a comprehensive list of what threats are likely to impact your business.
Those potential threats can vary depending on the industry and the geographic region in which your business operates.
Therefore, each business must look thoroughly at the risks that are unique to its operations and devise a plan to ensure that they can continue those operations if and when those risks become issues. The business continuity plan covers everything from business process to assets, human resources to business partners— and anything related to running the business in the face of an event that threatens to stop operations.
The problem with such thinking is that it’s reactive.
You’re never in a position to profit from good business and grow your company because you’re always chasing fires and putting them out.
These can be any number of risks, from natural disasters like fires, earthquakes, etc., to other man-made risks, such as cyberattacks, which are outside of normal operating conditions.
In other words, business continuity is just what it sounds like: maintaining business functions, or responding quickly to resuming them, if there is a major disruption to that business.
And of course, in a disaster, the last thing you need is issues with people not being able to access or use your business continuity procedures.
Our continuity and contingency planning templates have all been developed in Microsoft Office are fully editable.