Your clients may be able to accept the fact that the accident happened, but they also expect your business to quickly respond to any disruption, no matter the extent. ReputationĮven large organizations, such as Facebook, whose primary product is communication, can mishandle a crisis. Failure to comply with the minimum requirements will result in a violation and a hefty fine. At any time, your company can be surprised by a random audit. ViolationsĮvery business, with only a few exceptions, is required to have an Emergency Action Plan (EAP).
Get a Free Demo Why Bother Having a Business Continuity Plan?Īpart from innocuous misconceptions, there are substantial risks that stand behind the lack of business continuity and disaster recovery plan. Backed by 30 years’ experience, Agility Recovery helps protect companies from an unexpected and extends a hand to those that are in need. However, it’s worth the time, money, and effort put into it. I don’t have time to develop a BC planĬreating a business continuity plan is a time-consuming task that requires a lot of expertise and knowledge.
A pre-defined plan can assist in handling an emergency in a calm and collected manner. At that moment, it’s difficult to help everyone stay calm.
When an emergency strikes, emotions are running high. Realistically, an outline of an emergency response plan is helpful, yet it won’t provide you with much guidance on what to do when your building has been affected by a tornado or flooding. It proves to be useful when a company handles clients and customers having a business continuity plan can help a business owner mitigate those risks. In some instances, business owners incorporate public liability insurance within their contingency plans for added security. Yes, insurance does cover losses but excludes events such as death, federal violations, and loss of reputation. These misconceptions are what most companies use as excuses for not having a business continuity plan. When it comes to business continuity, there are many common misconceptions. But at what cost? This scenario deprives a community of a relied-upon business, leaving a company unprepared when trying to come up with a plan of navigating the rough waters of post-disaster damage control. Unfortunately, one of the two most popular factors that influence the mindset of companies without a BCDR plan is the experience of a recent disruption. In fact, 52% of businesses experienced a disruptive event(s) in the last five years*, and your company may have been among them. In the words of Murphy’s Law, “Anything that can go wrong, will go wrong.” Does my company need a business continuity plan? What’s the worst thing that can happen?