A successful business continuity plan involves several essential steps, including identifying key personnel, various operations centers within the business, choosing responsibilities of various personnel, and training employees for basic disaster response.
Does my company need a business continuity plan?
Every business owner with a successful, profitable company needs a continuity plan. A business continuity plan, including a disaster recovery plan, is a necessary step for ensuring that your business continues to thrive even in the event of disaster or adverse occurrences. A business continuity plan can help you prepare for future disasters, avoid miscommunication, and make sure that your company protects its employees, property and customers as best it can. If you are concerned with how your business would be impacted by flood, hurricane, tornadoes, or explosion, formulating and implementing a business continuity plan is definitely worth doing before the need arises.
When should I create a business continuity plan?
You can create a plan at any time, but it is generally a good idea to develop one as soon as possible. Continuity plans are primarily used to lessen the negative consequences of unexpected events, so the earlier you develop and publish them to your employees, the more beneficial they can be.
When drafting a plan, many organizations allow for two categories of events: disaster recovery and business continuity. Disaster recovery plans are reserved for worst-case scenarios and should be finalized well-before they are needed. Business continuity plans are usually executed gradually over a long period of time and often focus on regular reviews and updates.
- Presented by: Steve Puryear, CPA - MSU CAVS Extension
- Date: Tuesday September 15, 2020
- Time: 10:00 - 11:00AM CST