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Why businesses should prioritize continuity planning

Best Practices, Featured

As children, people were taught to hope for the best, prepare for the worst. The average business most likely takes this to heart, as it is hard or even impossible to predict events that may threaten your operations. There is, fortunately, a way to reduce the damage.

Continuity planning refers to developing procedures that will help businesses recover in the time of crisis. The usual disasters that affect companies are cyberattacks, natural disasters, and now random economic lockdowns due to COVID-19 cases.

To formulate a feasible continuity plan, companies should first identify the different ways disasters affect their operations. It is a form of risk assessment. COVID-19, for example, has forced companies to face many scenarios which have made work unpredictable. What should the office do now that an employee exposed the office to COVID-19? How can a team finish their task now the government due to the government ordering lockdown again?

To conduct a business impact analysis, a company can send a questionnaire to the managers and employees. This can be done, even during a lockdown, due to the many resources online. Ask each department what affects their usual procedures, when it happens, and how big is the financial impact.

After the analysis has been completed, it is time to make the actual plan. The plan should consist of the strategies each team or business will use to recover from the financial impact experienced. For example, a restaurant business needs online delivery to survive in the ECQ since no one can dine in. Whenever ECQ occurs, the business should prioritize investing in more riders who can deliver or be more aggressive in their online marketing strategy during this time, to attract more people to order

Once your plan is formulated, it is time to test. In testing, it is good to keep in mind that there will be mistakes, but it is just part of the process. Every business should be ready to update their business continuity plans on a yearly or even monthly basis for an assurance of long-term success.