Six reasons for a business continuity plan
By Cloud Direct • 02 Dec 2013
Flooding, power cuts and viruses. There are many unexpected reasons a business might have to cease trading. Small and medium sized businesses are particularly vulnerable if they don’t have a contingency plan in place when disaster strikes.
As the Malay proverb goes, “Just because the river is quiet does not mean the crocodiles have left.”
Yet business continuity can so easily get shunted to the bottom of the to-do list as more pressing day-to-day matters take priority. This blog looks at why it’s important to push business continuity management back to the top of the pile.
WHAT IS BUSINESS CONTINUITY MANAGEMENT?
Business continuity management helps keep your business in business. It’s an all-encompassing management process that identifies potential threats to your business, and provides a framework for building resilience against them. It generates a clearly defined response that protects the interests of your business, key stakeholders and revenue-generating operations.
WHY IS A BUSINESS CONTINUITY PLAN IMPORTANT?
Specifically, a business continuity plan will help do the following for your business:
- Minimise interruption of normal business operations
- Limit disruption and damage
- Minimise any financial and reputational repercussions
- Establish alternative means of operations
- Train personnel in emergency procedures
- Provide smooth and rapid service restoration
THE ONLY THING HARDER THAN PLANNING FOR AN EMERGENCY IS EXPLAINING WHY YOU DIDN'T
You only have to think back to last January when the heavy snow was estimated to cost the UK economy almost £500m per day – many people simply couldn’t get to work. With the economy being how it is, few businesses can afford such disruption.
But with some thoughtful planning, good business continuity management can be the making of your business. The Chinese have a wonderful way of looking at crises. Their two symbols for the word “crisis” can represent “danger” and “opportunity.”
If you’d like some help making your business more resilient, download our free Business Continuity Plan template. It outlines all the key areas you need to focus on and provides useful tools that will help keep your business on the rails come hell or high water.
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