Business Continuity Planning (BCP)

Business Continuity Planning

     Business continuity planning is the process of creating systems for prevention and recovery to deal with potential threats to a company.

Business Continuity Planning

How to plan for Business Continuity Planning?

Here, we made 3 stages for Business Continuity Planning that help you to plan for your Business.

3 Stages of Business Continuity Planning:

1] Prevention Strategies - Detail any actions that need to take place as a preventative measure before the disaster occurs.

2] Response Strategies - There should be a detailed response strategy for each department.

3] Recovery Strategies - After the event has been contained or stabilized, there are necessary steps towards recovery.

Business Continuity Planning Lifecycle:

Maintenance => Analysis => Solution Design => Implementation => Testing and Acceptance

Disaster Like:

1. Bomb Warnings 2.Power Cuts 3. Excavations 4. Fires 5. Fires with the danger of explosion or release of HAzardous Substances 6. Explosions 7. Cyber Attack 8. Nature Damage 9. Damage to Image

Disasters cannot be Planned, Preparations Can. [ Recovery from the Disaster ] 

1. Evaluate Assess Determine Prioritize Step1: Identify = Risk Assessment

2. Determine Develop Identify Outline Step2: Analyze = Business Impact Analysis

3. Synthesis Develop Review Create Step3: Create = Strategy & Plan Development

4. Conduct Develop Review Execute Step4: Measure = Test, Train, Maintain

Identify your Business Threats or Risks - Be aware of the risks such as fire, windstorms, or other events that could leave employees, customers, vendors, property, and operations vulnerable.

Conduct a Business Impact Analysis - Identify the people, places, providers, processes, and programs that would be most impacted by these threats or risks. Consider what is necessary to restore critical operations, and the need to restore each item after the event.

Adopt controls for prevention and mitigation - This is intended to help prevent an event as well as reduce the impact or severity of an event. These plans should include emergency response, public relations, resource management, and employee communications.

Test and improve your plan routinely - Update your business continuity plan regularly, or any time that critical functions, facilities, suppliers, or personnel change. Be sure to train employees to understand their role in executing the plan.

Creativity & Innovation: 

         Customer Satisfaction Informed Decision Making

 Use of Best Practice

Efficiency & Effectiveness

Ownership & Responsibility

Success Rates

A Sense of Belonging

Employee Engagement

Knowledge Capital

Mutual Understanding

Responsiveness

Key Reasons for Knowledge Loss:

1. Millennials don't stay long with the same employer

2. Increase in 'on-demand transient workforce

3. More Baby Boomers Are Retiring

 

Socialization at work increase knowledge sharing by up to 80% as it allows for tacit knowledge transfer.

Many organizations acknowledge that knowledge sharing is important for the ongoing success of their business, but many are not quite sure how to make it happen.

Also Read: The Power of Habit Book Summary

The continuity of your company, even after the disaster, is a must for any entrepreneur. COIN assures your company’s business continuity in the event of a disaster. Business Continuity Plan solution should be safe, quick, and totally compatible with your business activities. Your staff can restart their work immediately from one of our recovery centers. This implies that your IT is up and running; your data is accessible, your customers and suppliers can contact your company by telephone; you can be reached on your own telephone numbers and your business-critical employees have comfortable workspaces with the necessary equipment and access to your data. Your business continuity is guaranteed. You are back in business, serving your customers and earning revenue without adverse impact on your reputation.

What to consider when building a Business Continuity Plan?

1. Critical Equipment

2. Staff Roles And Regular Drills

3. Utilities

4. Supply Chain

More than 25% of business fails in the starting first 5 years due to no planning of Business Continuity.

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