Business Continuity Planning Involves:
- Thinking about and understanding what your business routinely needs to do in order to operate effectively to deliver its product or service to the customer
- Identifying what the key threats or risks facing your company are e.g. fire, flood, machine breakdown, IT or data loss
- Putting arrangements in place to reduce the risks e.g. installation of fire detectors, regular maintenance and testing of electrical equipment, storing stock and equipment off ground level, running regular data back-ups and keeping a list of emergency contact details
- Preparing business recovery plans which for example identifies possible alternative/temporary premises, equipment suppliers and repairers, possible sub-contractors if applicable and includes a communication plan for keeping customer informed
- Regularly testing and maintaining the arrangements to ensure details are up to date
The inability to respond to such events can have a catastrophic effect on any business. According to the National Audit Office, 80% of businesses affected by a serious incident either never reopen or cease trading within 18 months; this highlights the necessity for Business Continuity Management & Planning.
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