Definition of Business Continuity
Business continuity is the ability of an organization to continue functioning over time. This means to continue to function through an operational interruption, disruption, disaster, or any other difficult situation. It is the ability to continue to function with as little disruption as possible. So business continuity is about how to prevent service interruptions and how to respond to the interruption. It means a readiness to maintain essential, critical functions after an emergency or disruption. The readiness is usual described in a business continuity plan.
- how to prevent service interruptions and
- how to respond to the interruption.
Threats to Business Continuity
Events that can endanger business processes include:
- security breaches
- cyber attacks
- termination (leave) of a key employee from the company
- natural disasters
- power outages
- supplier or vendor failure
- service failure or outage
- war or civil unrest
How to manage Business Continuity in a Company
- Risk Assessment: Identify potential risks and threats to your business operations.
- Business Impact Analysis: Determine the critical functions and processes that are essential for the business to operate.
- Develop a Business Continuity Plan (BCP): Create a plan that outlines procedures to maintain and restore business operations during and after a disruption.
- Implement Preventive Measures: Put in place measures to reduce the likelihood of disruptions (e.g., data backups, redundant systems).
- Train Employees: Regularly train employees on their roles and responsibilities within the BCP.
- Test and Update the Plan: Conduct regular drills and simulations to test the effectiveness of the BCP and update it as necessary.
- Communication Plan: Establish clear communication channels to keep employees, customers, and stakeholders informed during a disruption.
- Review and Improve: Continuously review and improve the BCP based on lessons learned from tests and actual incidents.