Business Continuity Planning Definition

Business Continuity Planning Definition-79
Lending institutions will think twice before granting any loans.Other businesses will have apprehensions about continuing any partnership they have with the company, and they may even consider severing any ties they have with that business.All these threats must be taken seriously by companies, considering their various effects or impacts when they result in the disruption of business operations.

Tags: Can Science Explain Everything EssayUci Application EssayDescriptive Essay For Grade 8Dartmouth Tuck Essays 2013Anecdotes EssayExamples Of Research Papers OutlinesMasters In Creative Writing New YorkEssays Customer CareCritical Thinking Is Not Important

.boxy-content a.term-action, button.term-action a.term-action:hover, button.term-action:hover .term-action-bg .term-uex .term-cite .term-fc .term-edit .boxy-dflt-hder .definition .definition a .definition h2 .example, .highlight-term a.round-btn, a.round-btn.selected:hover a.round-btn:hover, a.round-btn.selected .social-icon a.round-btn .social-icon a.round-btn:hover a.round-btn .fa-facebook a.round-btn .fa-twitter a.round-btn .fa-google-plus .rotate a a.up:hover, selected, a.down:hover, selected, .vote-status .adjacent-term .adjacent-term:hover .adjacent-term .past-tod .past-tod:hover .tod-term .tod-date .tip-content .tooltip-inner .term-tool-action-block .term-link-embed-content .term-fc-options .term-fc-options li .term-fc-options li a .checkmark .quiz-option .quiz-option-bullet .finger-button.quiz-option:hover .definition-number .wd-75 .wd-20 .left-block-terms .left-block-terms .left-block-terms li .no-padding .no-padding-left .no-padding-right .boxy-spacing @media (min-width: 768px) @media (max-width: 768px) @media print { a:link:after, a:visited:after nav, .term-action, #wfi-ad-slot-leaderboard, .wfi-slot, #related-articles, .pop-quiz, #right-block, .

Except for time-bound enterprises, or business ventures that are started with the intention of terminating operations and liquidating the business at the end of a year or two, businesses are established with a long-term outlook.

Similarly, when a manufacturing plant is unable to operate even for a couple of days, the company will not be able to produce the average output of finished goods for distribution.

Reduced finished goods inventory means reduced number of products to be sold, which will ultimately result to reduced sales and revenues.

This, on top of the lost revenue, will further cause a drop in the profits of the business.

In a study of mid-sized companies that suffered a major disaster and had no contingency planning in place, it was revealed that, on average, their downtime cost amounted to ,000 per hour. When their usual source of a specific product or service becomes unavailable, or unable to deliver their goods, customers will naturally look elsewhere for other sources.

Being resilient means that the business is still able to recover and grow, bigger and stronger than ever.

BCM is clearly described by the ISO to provide a framework for building organizational resilience, which will allow the organization to respond accordingly, in a way that protects the business, its reputation, and all other stakeholders.

As a management process, BCM involves several key activities: In recognition of the reality of the economic and business landscape being unpredictable and volatile, businesses are now taking a lot of precautions to ensure that their operations will still stand a chance against unexpected disruptions.

We usually hear of these precautions in the form of disaster recovery planning, which is primarily focused on the restoration of a firm’s IT infrastructure and IT operations.

SHOW COMMENTS

Comments Business Continuity Planning Definition

The Latest from gazel174.ru ©