There are ten good reasons for putting a business continuity plan in place:
The harsh but simple fact is that there are a hundred and one things that can disrupt a business. A well-thought-out, practical plan can mean the difference between coping with a disaster and going bust.
2. Revealing inefficiency
A business under threat can be viewed as a patient on an operating table. The priorities are clear: maintain the blood supply (cash flow) and oxygen (communication links), and at all costs protect the vital organs (the staff and premises).
Business continuity planning starts with a thorough analysis of the business to decide which parts are vital. Is that product or service really essential to what we do? Why do we need four of those, not two? When viewed like this, the non-critical parts reveal themselves – all the procedures and resources that have appeared over the years but aren’t really necessary.
3. Gaining the marketing edge
Having a business continuity plan can give you the edge over your competitors. It shows your commitment to deliver, no matter what happens. Put yourself in your customer’s shoes: do you sign the contract with the business that has a business continuity plan, or with the one that doesn’t?
4. Boosting staff morale
To find and keep excellent staff you need to inspire confidence and maintain loyalty. When something goes wrong they expect the business to have a plan and to cope. In return they will give you their best efforts.
5. Keeping insurance premiums under control
Insurance is an important aspect of addressing business risks, but it costs. A robust business continuity plan will demonstrate your commitment to managing risks, and your insurer should consider this when calculating how much your insurance premium will be.
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