05/19/2022 | News release | Distributed by Public on 05/19/2022 09:24
The pandemic has clarified several things about business and the economy. The most important lesson is that, despite how optimistic the situation seems to be, everything can take a drastic turn in a short amount of time.
According to the World Bank, Covid-19 has introduced the globe to the fastest and steepest economic downgrade consensus growth projection since 1990. In just a matter of months, record numbers of jobs were lost, and businesses closed. Micro, small, and medium enterprises were the hardest hit.
Why are we taking this dark trip into the recent past? Because, unfortunately, it can happen again.
Any number of downturns or catastrophes, whether local or global in scale, natural or artificial, can cause irreparable damage to your business. Whatever difficult times ahead will hit harder without the right business continuity plan, especially for small businesses.
This article will help mitigate this risk by providing a business continuity plan templatethat your company can adopt. It will discuss what is needed to develop a coherent and implementable plan in an unforeseen disaster. It will also look into the possible threats you may end up facing.
Business continuity planning
Business continuity planning is the process of creating a system that will help companies recover from a major disruption in the shortest amount of time. The plan provides essential policies and guidelines in times of uncertainty. It protects the personnel and assets of the company and ensures that operations can resumein some capacity as soon as possible.
Business continuity plans generally have the following objectives:
Having an operational business continuity plangives businesses several benefits, including the following:
Business continuity template (for UK organisations)
The business continuity plan templateis divided into three parts - organisation, impact analysis and strategies. Each part represents a section in the actual plan. These sections can be considered chronological steps for implementing the plan. The steps will also include objectives and requirements that should be fulfilled.
This business continuity plan template is created to be as general as possible, so organisations across different industries may adopt it.
Business continuity organisation
In this section of the business continuity plan (BCP), the main objective is to identify the responsibilities of the organisation members in the event of a disruption. It starts with the creation of a central management team that will take charge once there is disarray.
The composition of this BCP management team depends on the size of your organisation and your immediate goals right after the disruption. Having members from the human resources and facilities management departments, for example, can help in immediately checking the situation of personnel and assets.
This part of the template should include a list of names, contact information, and immediate responsibilities.
The BCP management team generally has the following positions:
Depending on the nature of the disruption and the business, the BCP management team may also require the participation of other departments within the organisation. A good continuity plan must have potential points of contact in the following departments:
Communicating the planto members of the organisation can be as important as building the plan itself. This responsibility can be part of the duties of the BCP manager. If there is a corporate or internal communication team,it may fall upon them. What and when to disclose will be determined in the following sections of the plan.
Business continuity impact analysis
After a significant disruption, one of the first and most important steps to take is to evaluate the effects on the organisation, its personnel and assets. This is the objective of the impact analysis section.
Here, you will have a checklist of your company's assets and functions. The items on the checklist can be as specific as needed, depending on the nature of your business.
The most critical pieces of information that should be included in this section are the following:
The key pieces of information that should be found in this section are the following:
Business continuity strategies
This section of the plan consists of two major strategies that aim to safeguard remaining assets, bring back essential operations, and begin to offer the business' products and services in some capacity.
Potential business disruptions
The following are some possible events that can cause significant business disruptions. It is essential to keep these in mind when building a business continuity plan because they will inform the kind of response needed:
Natural disasters
These can be anything from inclement weather to powerful earthquakes. These are difficult to predict and prepare for. That said, having emergency protocols in place should be a top priority. Natural disasters can cause massive damage to business assets and disrupt supply chains.
Power interruption
Power outages can cause anything from minor annoyance to massive profit loss. Regardless of how likely these outages occur, it is best to have backups in place in terms of power source and internet connection.
Cybersecurity breaches
A report published on the UK Government's website states that 39% of businesseshave had cybersecurity breaches in the 12 months leading up to March 2021. This figure is staggering but not entirely surprising. Business continuity plans should also account for the prevalence of these attacks.
Conclusion
Business continuity should be a priority for all enterprises, especially MSMEs, which are more prone to lasting damages from major disruptions. The business continuity plan templatefeatured in this article can serve as the foundation of an effective and comprehensive system to alleviate risk and recover in the shortest possible interval.
For more information about business continuity and how reliable connectionscan help, send us an email at [email protected]. You can also visit our contact page for more information on how to get in touch. Gamma is an award-winning provider of Unified Communications as a Service or UCaaS. We help businesses stay connected and operational through disruptions.