Various unexpected disasters and emergencies can impact organizations, their stakeholders and their operations. In particular, events such as natural catastrophes, cyberattacks, public health crises and supply chain incidents can have serious consequences. These emergencies can damage commercial property and digital assets, disrupt critical business functions, cause prolonged operational downtime, and result in severe illnesses or injuries, lasting emotional harm and possible financial losses among employees, customers and suppliers.
Altogether, these disasters can be extremely costly for affected organizations and lead to severe reputational damage. Sometimes, such events may even force organizations to close their doors permanently.
Considering these concerns, it’s imperative for organizations to have proper business continuity plans (BCPs) in place. These plans establish frameworks to help organizations limit possible damage and ensure crucial business functions can continue when disasters and emergencies strike. BCPs also outline protocols to minimize the risk of these events causing widespread destruction and disruptions in the first place. These plans are essential for organizations across industry lines and can make all the difference in fostering disaster resilience amid unforeseen circumstances. However, business continuity planning is a complex and multifaceted process. What’s more, it’s an ongoing effort; organizations need to consistently review, assess and update their BCPs to ensure they remain effective. That’s where this guide can help.
The following document provides more information on business continuity planning, explains the main benefits of having BCPs in place, outlines key initiatives and goals of such plans, highlights common threats that BCPs can help address, and offers step-by-step guidance on creating, implementing and maintaining these plans. This guide also includes an appendix featuring additional business continuity content. By utilizing this guide, organizations can equip themselves with the knowledge and resources necessary to engage in successful business continuity planning and remain prepared for the unexpected, thus reducing the likelihood of disasters causing irreparable damage.
Keep in mind that this guide is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Organizations should contact legal counsel or an insurance professional for appropriate advice. Reach out to VantagePointe Benefit Solutions, Inc today for further risk management guidance and insurance solutions.