A good business continuity plan will ensure that your business continues to function as normal in the event of a disaster occurring such as e.g. disease outbreaks, a fire outbreak, cyber-attacks, etc.
The main purpose of a business continuity plan is to ensure that your business resumes its normal activities with minimum delay or recovery and that is why it is so important to develop one if something like this should occur.
Many businesses fail to implement this important back-up plan due to common misconceptions – this can, however, prove to be a costly mistake or oversight and one that most businesses can ill-afford to let happen.
Misconception One: Our staff will know how to react to an emergency
In times of emergency, a well-formulated business continuity plan will assist staff to maintain a sense of calm in times of panic. When there is a properly formulated plan, people will be guided as to what they should and shouldn’t do, and this is important, especially in a time of emergency, where people often can’t think logically.
Misconception Two: Our current insurance plan is sufficient enough
Make sure your insurance plan has the thorough coverage you will need in the event of a disaster. Your insurance plan will also need to cover all the unforeseen damage that may occur that is not a direct consequence of the disaster. Some of the damages that your insurance plan would need to provide for include loss of reputation, loss of clientele, delays in product launches and the resulting costs thereof, etc.
Misconception Three: We just don’t have the time or resources to develop a business continuity plan
Business continuity is critical to sustaining your business in the event of a disaster; it is an asset that can shield your business from incurring huge losses that can have a detrimental impact on your business that may take years if ever, to recover from. Therefore, taking the time out to create a well-thought-out business continuity plan is definitely a must and should rather be considered as time well-invested.
Misconception Four: A business continuity plan and disaster recovery plan serve the same purpose
A business continuity plan is different from a disaster recovery plan because it plans ahead of time to mitigate the risks involved as much as possible in the event of a disaster.
A recovery plan on the other hand deals with the fact afterward to try and rehabilitate or restore the company to what it was before the disaster occurred.
A business continuity plan is thus an essential part of your business processes and one that should not be overlooked or avoided. There are tools available that can help you manage this process. Disasters can and do occur, how you manage them will decide how well your business recovers afterwards.