This guide provide assistance on How to Write a Business Continuity Plan.
Most businesses are established with a purpose and a long-term outlook in mind. To achieve those goals, you need a plan. The goal of a business is to earn a profit and to continue operations for an indefinite period. The goals and vision for the next several years to come would have been carefully laid out in the initial business plan.
But there is another plan that is just as crucial.
What is a Business Continuity Plan?
Running a business is going to come with challenges. To ensure your business continues its success once the challenges have been overcome, you need a plan. The next crucial plan you need is a business continuity plan. This is the plan that will ensure your business continues to deliver its services and products at acceptable levels in the face of challenges or disruptive episodes.
This is the very plan that ensures your business stays on course despite the stumbling blocks along the way. This is the plan that is going to guarantee your business survives for generations to come (or however long you intend it to run). Without a plan in place and an efficient management process, a business can quickly unravel depending on the kind of challenge it faces.
In short, this is a plan that is focused on improving and building your business’s resilience. It’s tough running a successful business, let alone ensure profitability. Your business must be able to recover, grow stronger and bigger after every challenge. The right plan in place is how you do it.
How to Write a Business Continuity Plan?
When preparing to draft your plan, the following key areas must be covered:
- Identifying your key services and products.
- Analysing your key products and services.
- Identifying and analysing what your most urgent processes and activities are.
- Identifying what the potential threats are.
- Identifying the impact of these threats to your operations (man-made threats, natural disasters, accidents, utility failure, cybersecurity breaches, sabotage etc).
- Formulating strategies and solutions for an effective and speedy recovery to ensure operations are not hindered.
The longevity of your business begins with the right kind of planning.
This article was first published on 3E Accounting. Information is correct at the time of publication.