Whenever
the operations of a business enterprise are disrupted, it can cost a lot of
money. Any loss in the revenue means extra expenses have to be incurred and
profits will be reduced. Insurance is incapable of covering all the expenses
and threat of competition. Thus, a Business Continuity Plan becomes essential
for a business organization. Every business continuity plan must include the
following four steps:1. A business impact analysis should be conducted to understand about the critical and time sensitive process, functions and resources required to carry out the smooth flow of operations.
2. Identify and implement steps to recover the critical business processes and functions.
3. Organize a team for business continuity processes and look out to solve any kind of business disruption.
4. Conduct a complete training session or work shop for the business continuity planning team and devise new strategies and plans for evaluating the recovery strategies.
Information technology systems help to a great extent in creating and implementing business continuity plans. IT can increase the productivity of a business enterprise and evaluate recovery strategies so that business can be restored with the help of the technology.
