What is a Business Continuity Plan?

Is a business Continuity plan beneficial for all business owners? Will it benefit your business? What is the difference between a business continuity and a disaster plan? In this article, you will get all your questions surrounding this topic answered.

What is Business Continuity?

Business Continuity is another meaning for how a company bounces back from a bump in the road. When a business hits hard times it is very important how that particular business handles the situation during and after. This is where business recovery plans come in handy.

Business Continuity disaster recovery actions will enable procedures to help in those bumpy moments that most, if not, every business goes through. Taking the right actions will prevent future interruptions allowing the company to run more smoothly.

Business continuity and disaster recovery planningwill help discover unplanned events that may be a huge dent in your business such as, fires, disease outburst, cyber-attacks, natural events and many more.

Who can use Business recovery plans?

Every business out there can benefit from the use of recovery plans in case disaster strikes, that being said, it has been highly recommended to properly allocate when deciding which of the company’s enterprises are important and which to budget.

Key Elements.

ABusiness recovery plan has three components these include, Resilience, recovery and contingency. Here you will find information on each component to help you familiarize yourself with what they mean.

Resilience – Is something a company can increase. This is done by approaching functions with possible disasters taken into account. By taking this action, it will allow companies to tackle disasters on and off site with no interruptions occurring during the process.

Recovery – When a company has hit a disaster it is crucial for a rapid recovery. For the rapid recovery to take place there needs to be recovery objective and goals set in place. Prioritizing which elements need to be recovered first is important for business progress. Some of the items used to help with the progress include, resource inventories and third-party agreements.

Contingency – Contingency plans can include scenarios containing commands relating to responsibilities within the company. When it comes to contingency plans these can include, replacing hardware, assessing the damage that has been caused and contacting vendors to assist you with enquires you have.

Compare business continuity and disaster recovery

When comparing the two together you will find they are similar in some cases but not at all. A business disaster recovery plan focuses more on the post-failure and mainly targets data, although it is a subsidy to business continuity. Making access to data easier following a disaster. On the other hand, business continuity also takes this into consideration but also takes on board the risk management, planning and the components needed to stay operational during a disaster.

It is important for any business to make sure a disaster rapid recovery plan is in order to help companies operate during and after a disaster occurs. This will ensure a much smoother operational system is in place.

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