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What is a Business Continuity Plan and why is it important?

What is a Business Continuity Plan and why is it important?

What is a Business Continuity Plan and why is it important?

The aim of the business is to make profit and it could only be achieved when the organisation is up and running.

The aim of the business is to make profit and it could only be achieved when the organisation is up and running. In an unprecedented like this, the COVID-19 pandemic, business continuity becomes more important. Besides big risks like pandemic, organisations are always under some kind of risk. Business continuity plans help organisations to deal with risk better in every aspect of the organisation; from cyber-attacks to flood, gas leak to information breach. 

It is important to underline that all organisations no matter their size should have a business continuity plan. In order to continue during a disaster, organisation should lay out the actions to be taken to continue 

Benefits of having a Business Continuity Plan 

  • Business continuity plan allows organisations to cope better in a crisis situation and minimise the impact on the business, as well as your customers and other stakeholders. 
  • Having a business continuity plan assures all the parties such as customers or investors that your business is prepared for the worst 
  • A well-executed business continuity plan ensures that the business is less like to stop generating revenue or at least resilient to various impacts on business. 
  • Business continuity plan also makes sure that the organisation avoids high cost of disaster after it hits by filling the gaps necessary when it comes to risk 

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