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Business Continuity Planning
Why your staff and customers will ALL benefit from it
The views on business continuity planning vary from: “Business what?” to. “It’s just common sense, isn’t it?” to, “Oh no, where do we start?”
It’s about building and managing the resilience of your business to continue its operations and recover quickly from any type of disruption. Take the criminal investigations into corruption at football’s world governing body FIFA with seven top officials having been arrested in Zurich, for example. You can be sure that the company is in overdrive to resolve the crisis, especially as the likes of Visa, Coca-Cola and other major sponsors have responded to corruption probes with damning statements.
It’s something you hope you’ll never need, yet something you can’t really afford to be without.
So with the likes of FIFA in mind, here are 5 reasons why a well thought out business continuity plan will benefit your business and brand:-
The harsh but simple fact is that there are a hundred and one things that can disrupt a business. A well thought out, practical plan can mean the difference between coping with a disaster and going bust.
- Reveal Inefficiencies
A business under threat can be viewed like a patient on an operating table. The priorities are clear: maintain the blood supply (cash flow), oxygen (communication links) and at all costs protect the vital organs (staff and premises).
Business continuity planning starts with a thorough analysis of the business to decide which parts are vital.
Is that product or service really essential to what we do? Why do we need four of those, not two? When viewed like this, the non-critical parts reveal themselves – all the procedures and resources that have appeared over the years but which aren’t really necessary.
- Boost staff morale
To find and keep excellent staff you need to inspire confidence and maintain loyalty. When something goes wrong they expect the business to have a plan and to cope. In return, they will give you their best efforts.
- Better communication
A business without a continuity plan relies upon communicating – being able to give the right person (who can deal with the problem), the right information at the right time.
It’s also about the ability to keep talking to customers, suppliers and staff, even if your office is a pile of rubble, or just locked up with the key missing! This being the case, normal, day to day business can surely benefit from better communication, whether that’s having a wider range of tools at your disposal, or becoming more disciplined at sending the right information to the right people.
- Increased value
A business that will cope with whatever is thrown at it, is a more valuable and reliable investment than others. Ensure that this is factored in when asking your bank manager for a loan, when selling some equity, or even dealing with the new owner if you decide to sell the business.
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