Importance Of Business Continuity Plan
It is important to know what happened to cause the event and the potential impact it may bring if left unchecked.
Assess the impact, know how to stop the bleeding and devise short and medium-term goals to appropriately address the situation.
Business continuity refers to maintaining business functions or resuming them in a timely manner in the event of a crisis.
Examples of crises include natural disasters such as weather, fire, or an epidemic outbreak like the flu, but also include events involving company reputation, violence and network breaches.
Whether it be at a corporate level, regionally or locally, knowing who is overseeing the process towards recovery is vital to the success of a BCP.
Every incident is unique due to the challenges it presents.In the event of a disaster, stakeholders might initiate various actions to stabilize or restore services.Timely communication between various respondents is critical to an effective incident response.Any interruption of trading for your business is a disaster whichever way you look at it.Because of this, you will need a plan of action to hand to ensure that you are well prepared if the worst does happen.The absence of a plan doesn’t just mean your organization will take longer than necessary to recover from a crisis – you could go out of business.In this installment of Center Stage, Cathleen Christensen, our VP of Property and Casualty, discusses what a BCP is, why it matters, keeping one in place, and how Hierl can help you build a strategy that works with it.Cathleen explains, “A business continuity plan can be the difference between successfully recovering or going out of business.” The importance of having a business continuity plan cannot be stressed enough.Truth is, 1 in 5 organizations do not recover following a crisis. probability must be factored into the management of your organization.Receive our FREE business continuity plan checklist via email.According to a 2011 study, 25% of businesses have no business continuity plan.