View source: Ernest Hamilton
The COVID-19 pandemic has reshaped the world as we know it; increasing the shift to remote and virtual business models for organizations around the globe. This new paradigm shift has impacted the way people work, access data, and collaborate, as well as their overall view on life-work balance.
Why a Business Continuity Is Important
A business continuity plan, also known as a BCP, refers to the business’s steps to recover from unexpected threats to the organization. It makes sure that in case of a disaster, both personnel and assets are protected. It forms part of an organization’s overall risk management.
The Importance of Planning and Security
While we may be confined, our thinking is not. With businesses in the race to recovery, management should also think about emerging as leaders. Taking into account the recent pandemic, contingency planning has emerged as a significant consideration for businesses the world over. Continuity planning is useful for any unexpected situation, including the ongoing pandemic, weather catastrophes, or a mass worker strike.
The Steps To Contingency Planning
- Assign an owner. All plans ought to have a single point of contact and an individual who can claim ownership of the plan and delegate it. This person should see to it that the proposed plans make sense for the business, and no assumptions are made.
- Make the business continuity plan part and parcel of the overall BCP plan of the organization.
- Take note of all the critical systems. Having full knowledge of what data and systems are the most important to operations will help develop an efficient plan, thus minimizing losses. This step involves looking at crucial resources like servers.
- Carry out a risk analysis to identify threats, risks, and preventative controls.
- Get everyone’s input. The depth of the plan will depend on the business needs. To develop a workable plan, get input from all sources, both internal and external, and from all management levels.
- Make the plan a living document. Make sure the plan is reviewed periodically, and changes are made if and when needed.
- Communicate. Once the plan is ready, the top management should make sure that it is communicated to everyone in the organization, everyone knows what it is, where to find it, and what it means to them.
As a result of this year’s paradigm shift, there has been a significant increase in cyber-attacks as criminals are looking to capitalize on the chaos. With the rising reliance on remote working, businesses should invest in solutions that improve security and compliance.
Having a business continuity strategy is vital for the success of any organization. It is the only sure way to ensure that the organization continues to operate with minimal disruption when an unexpected situation occurs.