ISO 22301 Business Continuity Management System
Why Do You Need Business Continuity Planning?
Businesses today face an unprecedented number of exposures. The frequency and severity of weather-related events seem to be increasing and reliance on a complex network of technology and supply chains is expanding and sadly violent attacks are becoming a daily event around the world. These trends leave businesses susceptible to a variety of existing and emerging risks. A business cannot afford extended downtime, loss of revenue and market exposure can have a severe effect.
Managing these risks by developing a business continuity strategy is key to the survival of any organisation. Some of the advantages of having a Business Continuity Plan are:
What's the Function of a Business Continuity Plan?
A business continuity plan outlines the steps necessary for a business to operate in the wake of a sudden and severe change to the business or market conditions. Continuity plans can address basic concerns, such as the chain of command in the event a company leader dies or becomes extremely ill. Likewise, continuity plans reveal backup strategies for drastic scenarios, such as fire, floods, labour disputes or distribution bottlenecks.
A comprehensive business continuity plan forces senior executives to review the weaknesses and threats to their business from a detached perspective. While few business leaders want to focus on negative "what if" questions, the process of creating a continuity plan can raise concerns about employee development, political situations within their region and emerging threats internationally. Tight plans can assure teams that company leaders understand how to react during challenging times.