Businesses aren’t devoid of risks, so it is always important to have a plan, keeping disasters in mind. For instance, the recent pandemic had affected organisations around the world, but majority of them are still operational, thanks to their foreseeing. This is because most of them have a Business Continuity Plan that ensures that operations are not interrupted, no matter what the situation is. This article will discuss in details why organisations should improve their business continuity practices.
What is Business Continuity?
Business Continuity is an organisation’s ability to maintain operations when a disaster occurs. These disasters could be internal or external. Business continuity is important for an organisation as it establishes crisis management processes for the organisation and ensures a safe reestablishment of services and function in full potential as smooth as possible. It also enables the organisation to allocate a reasonable budget for essential operations and also to keep running without interruption in a minimal level during a risky situation.
Benefits of Business Continuity
There are plenty of reasons to have a business continuity plan in your organisation. Some of the major benefits include:
- It protects your organisation’s reputation by giving a good impression to the public.
- Every employee would feel content being a part of your organisation as their needs are met.
- Builds a strong relationship with your employees, partners and customers by proving that you are here to stay.
Why Improve Business Continuity Practices
Business Continuity practices are crucial to ensure that your organisation is well prepared to face any sort of disaster. Some of the disruptions that affect organisations include:
- Natural disasters such as earthquakes, floods and hurricanes
- Man-made disasters such as rail and road disruptions
- Errors such as data exposure or losing data; stolen files
- Technological failures such as file corruption
- Cyber-attacks such as ransomware
There are chances of one or more of these occurring in an organisation so it is important to have a robust plan that focuses on crisis management. To improve your business continuity practices, you firstly need a department that deals with risks and crisis. For instance, the biggest threat 2021 saw was ransomware. Many organisations however had data back up so as to face this risky situation and even though phishing emails and other threat invaded them, they were able to overcome the threat easily.
Most organisations have continuity plans that could only provide temporary solutions to short term problems. However, we need a plan that is applicable to circumstances unforeseen. For instance, when the COVID19 pandemic hit the world, some organisations failed to keep up with the situation and had to close down as they didn’t have a solid continuity plan. On the other hand, many organisations are still thriving with a backup plan – of remote working – and it has done wonders to them.
Risk management requires a solid Business Impact Analysis that maintains the equilibrium of the organisation no matter how disastrous a situation it has to face. What makes an organisation powerful is its back up plan to run efficiently even in a situation that is alarming and might affect the overall balance of the business. This can be easily tackled by keeping in mind the disastrous interference and a continuity plan that overcomes the disruption.
For a flawless risk management, you need to have business continuity practices that are highly beneficial to the organisation. Here are some tips to improve your business continuity practices.
One of the best ways to improve business continuity practices is by adopting ISO 22301 standard. It clearly states what to do and what not to when a disaster occurs that could sabotage the organisation. The ISO 22301 standard ensures that the organisation is empowered with business continuity practices that could save it from any form of disaster.
Business Impact Analysis predicts a potential disruption, its consequences and the ways to tackle it. Having a plan that is robust and efficient would only do wonders to the organisation and ensures a safe continuity of business even after a disruption.
Business Continuity practices are essential for an organisation in order to function smoothly even in a disruptive situation. Empowering your team, keeping constant communication and automating operations can only make your business grow exponentially, even when you are surrounded by threats. A strong business continuity plan ensures your place in your respective field of work and maintains your reputation, even when disruption occurs. All you need to do is improve the plan as and when required and ensure a safe space for your business in a very competitive environment.