Considering the wide variety of threats that businesses face today, it may be surprising to learn that many aren’t prepared for business-affecting emergencies or disasters. Unfortunately, it’s true: a study on business responses to the COVID-19 outbreak found that 51% of organizations worldwide do not have a business continuity plan.
No matter how successful a business is, there are always unknown threats around the corner. Things like natural disasters, cyberattacks, and system failures can occur at any time, and may result in massive data losses, extended periods of downtime, and reputational damage.
Smart leadership is characterized by practical foresight, especially with regards to disasters and other events that are disruptive to business operations. Companies that stay longer in the game are the ones that weather the storms. They’re the ones who have carefully planned and allocated their resources for difficult situations.
Power outages, disasters and other disruptions happen. And thousands of businesses around the globe are affected by them every year, with lost profits ranging into the millions, if not billions. So how can your business protect itself and stay open when the unexpected strikes? Here are five common business continuity strategies that many companies rely […]
When and if disaster strikes, is your business going to continue to operate and cater to customers despite a possible long-term hardware failure or a network disruption? If you answer no or are not even sure what to do, you are part of a majority of business owners who have not considered disaster preparedness and […]
Even a single second of downtime at your business can cause a ripple effect that sees operations become unhinged. While most Business Continuity Plans (BCPs) take into account longer power outages, short ones can be just as dangerous to your company. It is important that you and your employees be prepared should a power outage […]
You are protecting your small or medium-sized business with insurance – of course you are. But is that really enough? The recent increase in natural disasters has led savvy business owners to also take out business interruption insurance, which covers many additional scenarios in the event that you are unable to carry on operating. Think […]
Having a Business Continuity Plan (BCP) is great, but only if you know when it needs to be invoked. If you don’t know when it should take effect, then you might as well not have one at all. While a lot of business owners might believe it is pretty obvious when a BCP needs to […]
There is nothing worse for a company and its customers than being forced to close because of inclement weather. And with winter almost upon us once again, now is a good time to make sure your business continuity plan is prepared for anything and everything mother nature is looking to throw your way. By communicating […]