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Business continuity planning is an important part of strategic planning and long-term risk mitigation. Continuity planning focuses on those risks that may be relatively unlikely to manifest themselves but will have catastrophic, potentially company-ending impacts if they do occur.
Every business faces certain existential risks: a data breach for a tech company; a major malpractice lawsuit for a healthcare provider; the emergence of an aggressive, well-funded competitor; etc. Identifying and training to mitigate those risks is the process of business continuity planning.
In a previous post, we began a discussion on the topic of business continuity planning. Business continuity planning is the process of identifying, planning mitigation for, and practicing to mitigate potentially existential threats to an organization.
Companies train for a wide range of situations. From fire drills to sales demos, training is an important part of getting things right when real-world situations arise.
When we think about going through a drill at work, the first thing that comes to mind is probably a fire drill. We’ve all been through them. Everyone knows in advance what day it’ll be, maybe even what time. It’s a minor annoyance to listen to the loud alarm and flashing lights and then stop […]