This article looks at how business continuity planning is an increasingly crucial tool for businesses of all sizes.
What Is Business Continuity?
Business continuity management planning is a critical aspect for businesses of all sizes in the modern day. Having a business continuity plan can ensure that in the face of unexpected circumstances, businesses can continue to operate to their maximum potential. The real aim of business continuity management planning is not to merely ensure a business continues to operate, but to provide a strong path to restoring normal operations at the earliest possible opportunity.
The business continuity plan can account for a whole range of events, from physical happenings such as a terrorist atrocity or a huge fire to financial events such as recessions and market troughs.
Building Business Continuity
Currently, the standard which measures a business’ continuity planning is BS 25999. BS 25999 looks at how well equipped a business is to deal with a wide range of occurrences, as well as the planning processes and logistics required to implement these. BS 25999 puts accountability on various individuals throughout an organisation to act in a certain set of circumstances.
Business continuity management planning can be the difference between a business continuing to thrive or going to the wall in the face of uncertain conditions. In times of uncertainty, it will be a great comfort to customers to know that in your business, they have an organisation and team who they can rely upon to remain consistent in their service and product delivery. A business continuity plan could even bring you new business in this manner, so it is definitely something worth having.
Why Business Continuity?
In addition to the benefits to customers there are various reasons why a business continuity management plan is a good idea. Getting certified with BS 25999 can open many doors for your business.
- Investors will be far more likely to invest in your business if you have a continuity plan, and have been BS 25999 certified. Parting with their money is a risk, giving it to a safe bet will feel immeasurably safer.
- Many insurance companies and other groups will only deal with you if you have an aspect of business continuity management planning in place. Growing numbers of large corporations are adopting a strict policy of only dealing with other businesses who have such contingencies in place.
- As this becomes a greater focus, business continuity will become a mandatory requirement for all businesses. At the moment, only those agencies related to financial markets, utilities and public transport are legally obliged to have such plans in place.
Adopt business continuity planning throughout your business, get BS 25999 certified and put your business on the map starting today.
Iso27001standard provide resources to help with understanding BS25999.