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A business continuity plan can help to mitigate a variety of risks including operational risks, financial risks, reputational risks, and legal or regulatory risks. Operational risks could include disruptions to your supply chain, loss of key staff, or IT failures. Financial risks could include loss of revenue due to business interruption or increased costs due to recovery efforts. Reputational risks could arise if your business is unable to provide services or products to your customers. Legal or regulatory risks could occur if your business is not in compliance with laws or regulations during a disruption.
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Once BIA and any gap analyses are ready, create your business continuity plan. "Initially, the team should create a draft document, and then they can present it to the senior executives who have to sign off on it," Elsey says. When it comes to a business continuity plan, no area of your business should be ignored. According to Elsey: "Consideration and review should move through the entire company, including every division and into each department, role and function."
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Ensure that your business continues to thrive under unfavorable conditions with our Business Continuity deck. This presentation includes practical fra...
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