Business Continuity Plan Part 1: What it is and why you want it
Written by David Ng
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Could your business handle a full flu outbreak?
There’s really nothing more depressing than looking at the business-halting results of an unpreventable but foreseeable incident and thinking, “I should have planned for this.”
A business continuity plan will allow you to mitigate the impact of a disaster on a business. The “disaster” can be any number of things from extremes like flooding, earthquakes and fires to more mundane events like email and phone issues, rolling blackouts, hardware failure and even flu season.
Consider this:
- 63% of organizations could withstand only four hours or less of downtime before experiencing adverse effects to the business. (ESG Consultancy)
- 37% of organizations could not handle a Katrina- or Sandy-like disaster. (Association for Financial Professionals)
- 92% of organizations have encountered at least one disruption to their business systems. (IDG Research)
Your business’s health can be influenced by a number of external forces. Having a business continuity plan to deal with these types of interruptions can mean the difference between staring wistfully at waterlogged contracts and emailing digitally signed PDFs to clients while a plumber repairs the piping.
Make sure you’re not thinking of “should have’s” at the end of a bad day. Download our new e-book on business continuity planning today!
