Business Continuity Planning
Conducting a business plan is a difficult task because the tools used in the process keep changing frequently. That is the reason you have to constantly communicate with your team members, people in different departments as well as other organizations and the stakeholders to collect all the essential information needed to plan the present and future actions.
Business continuity is the process of maintaining business functions or resuming them in an event of a major disruption. A lack of prior planning is no excuse for an organisation today to ask for a long time to recover. We need a Business Continuity Plan (BCP), when an organisation faces any challenges. BCPs are generally implemented by the same team that had proposed it.
The need of a business continuity plan has been growing frequently. It is driven by the stakeholder demand and the regulatory compliances. Business continuity requirements will make various organisations review their plans and then test those results they consider crucial in the operational process. Their main objective is to reduce the disturbance in the business processes, maintain the confidence and trust on the employees of the organisation.
Nowadays organisations do not risk working on incomplete, inefficient plans. They always make a backup plan to handle all identifiable contingencies and failure scenarios.
Some Benefits of Implementing Business Continuity Plan are −
User Friendly − It is user friendly because team members can easily implement it in their business.
Quick Implementation − The implementation of business continuity plan is frequent. If you have highly skilled expertise, then it becomes a fast process.
Built-in reporting − When we implement business continuity plans, we maintain a report on which situations that led us to implement them and this in-built reporting feature with steps highlighted help other teams.
When the company finds a suitable investment opportunity, they start to chalk out an appropriate BCP for the product, which is then tied up with a corporate plan. The corporate plan then analyses the previous sales plan and filters all the problems associated with it.
A sales plan also gives you some good tips or guidance on how to handle issues that the company’s sales forecasting has predicted for the future processes. If the corporate plan expectations don’t match with your business prospective, then it means that the team and the company are working in opposite directions. It ultimately results in not meeting any objectives or goals with an overall negative effect to business and market credibility. So it is critical that the sales plan has enough allocated resources and budget to withstand even a major breakdown.
