Business continuity (BC) refers to maintaining business functions or quickly resuming them in the event of major disruptions such as a pandemic, fire outbreak, flood or malicious attack by cybercriminals. A business continuity plan outlines procedures and instructions an organization must follow in the face of such disasters; it covers business processes, assets, human resources, business partners and more.
Business Continuity plan is as critical to Small Businesses as it is to Large Corporations, you have to tailor it to the size of your organization and ensure it is effective for your requirements so that your business can be resilient in the face of any harsh challenges.
Do you have a system to get HR, manufacturing, supply chain, sales and support functionally up and running so the company can continue to make money right after a disaster? E.g. During the complete lockdown invoked by the government due to the Covid 19 pandemic, as a business, did you have any plans in place or you had to shut down your business completely? Were you in operation? Was there a remote work policy? For smaller businesses, do you have an E-commerce website that customers can purchase items from? Is your business active on social media such as IG? The BC plan addresses these types of concerns.
Why BCP (Business Continuity Plan) is important?
✓ It ensures that you strive to remain competitive, and helps to retain current customers while increasing your customer base. ✓ Improves responsiveness by the employees in different situations, ease confusion by providing written procedures and instructions and help ensure logical decisions are made during a crisis.
✓ Your company's future depends on your people and processes. Being able to handle any incident effectively can have a positive effect on your company's reputation and market value, and it can increase customer confidence.
Hope you found this useful?
#portharcourtbusiness - 16 minutes ago