More detailed information on how to do this is at the end of the article. of companies did not have a business continuity plan Business continuity management or operational continuity management is defined as Developing a plan for a worst-case scenario and determining how the company will recover from it. Some of the most commonly covered scenarios include natural disasters such as tornadoes and fires power outages cyber attacks or serious employee injuries. The corona crisis caught the world off guard and most companies were not prepared for such a situation.
When asked if their company had a business continuity plan in place before the crisis of respondents said no or werent sure. Business continuity plan in companies worldwide However companies that do not have a business continuity plan risk huge losses or even the closure of the company. The COVID- pandemic Specific Database highlights just how unpredictable a crisis can be and having a contingency plan makes more sense and is more important at this time than ever before. Publicist Nassim Nicholas Taleb coined the term Black Swan Theory This theory explains the extreme impact of unlikely and unpredictable external events that companies find difficult to prepare for.
A plan that prepares you for the unplannable can save a tremendous amount of time and money - and maybe save the future of the company. The main benefits of a continuity plan are as follows Reduced incident response time Faster recovery of critical functions Fewer wrong decisions in the initial period after the incident Successful communication with employees and key people during the crisis A business continuity plan and business continuity software with features for continuous backup encryption and data storage help companies prepare for unexpected crises or cyberattacks.