Business risks unfold from the most unexpected sources. Natural calamities, cybersecurity attacks, and global pandemics are examples of business crises that happen without notice. Even with a lead time, a range of things may break down. In this article at CIO Insights, Kent Barnett explains how a business continuity plan (BCP) can help you survive rough weather.
Warding Off the Risks
A business continuity plan outlines the steps to restore daily operations after a disrupting event or an incident. Multinational companies and successful enterprises have a disaster recovery unit or a team of strategists to counter direct or indirect threats. After facing the sudden disruption due to the COVID-19 pandemic, even small and medium enterprises (SMEs) need a business continuity plan. So, here are a couple of suggestions to initiate one:
Keep It Simple
Often, SMEs make a business continuity plan to address a small problem instead of implementing it in genuinely difficult situations. For instance, making plans for a tsunami in an area far from the sea is a sheer waste of available resources. So, keep your business continuity plan limited to relevant threats that your team will most likely handle.
Form a group of advisers responsible for conducting bi-weekly or monthly meetings to strategize business continuity initiatives. The team must have detailed information of past, present, and future provisions. Each individual in the group must assess real-time threats and conduct drills to spread awareness among employees.
Your business continuity adviser’s group must closely monitor the internal and external affairs of the company. They must conduct frequent tests and maintain a confidential data bank for future reference. They should often share innovative ideas and proposals to beef up security arrangements. Small companies can appoint a stakeholder to ensure everyone follows the necessary protocols.
Instead of worrying about small problems, do the necessary research or appoint a third-party consultant to develop a reliable business continuity plan for huge issues. Small and medium enterprises can hire skilled professionals for it. Following the federal government’s guidelines, you can specialize in business continuity plan yourself.
Click on the following link to read the original article: https://www.cioinsight.com/uncategorized/business-continuity-plan/
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