Why a Business Continuity Plan Is Essential

9/12/2018 (Permalink)

Creating a disaster plan is not just for your the safety of your personnel, but also to save your business time and money when disaster does strike.

Every business in Carrollton, Texas, is potentially vulnerable to a variety of threats including natural disasters, fires and computer system malfunctions. When disaster strikes, you need to quickly resume normal business operations, or you may face costly business loses. Because disasters can occur unexpectedly, your best protection is a well-devised business continuity plan.

Continuity Plan Benefits

A business continuity plan helps you prepare in advance for potentially destructive events. Businesses that develop emergency response plans often experience improved coordination and quicker recovery times, which provide several important benefits:

• Ensures the safety of personnel during and after the crisis
• Helps contain hazards quickly and efficiently, reducing the risk of additional damage
• Enhances ability to salvage equipment
• Minimizes financial loses
• Allows essential business operations to continue with minimal interruption

Common Misconceptions

There are three common misconceptions that cause some businesses to discount the importance of disaster planning.

Believing Personnel Will Know How To React

Fires, floods and other disasters are frightening situations that can cause disorder and confusion. Without proper guidance and training, your staff may not know how to efficiently respond to a crisis, which may result in detrimental consequences.

Relying Exclusively on Insurance Coverage

Your insurance policy is a vital financial safety net that enables you to replace damaged equipment and successfully complete the cleanup and restoration process. However, it may not help you financially recover from losses such as delayed product release dates or diminished customer interest.

Deeming the Process Excessively Time-Consuming

Emergency response planning does require significant time and effort. However, if you do not have a plan in place and disaster strikes, you may jeopardize the welfare of your staff and waste critical time trying to devise a timely response that may be uncoordinated and ineffective.

Devise a Plan for Peace of Mind

Taking the time to develop a strong business continuity plan today can provide peace of mind in the long run. To complete the process, take the following steps:

• Conduct a risk assessment
• Analyze potential business impacts
• Brainstorm and implement prevention and mitigation strategies
• Test the plan and train staff
• Update the plan as needed