Wednesday, June 20, 2012
Business Continuity and the Economy
Hurricanes, tornados, flash flooding, fires, power outages... all of these can close your doors for periods from a couple of hours to several days. Over the years, business continuity studies have shown that companies that experience a computer outage or other disruption lasting more than 10 days will never fully recover financially and half of them will be out of business within five years. Given this information, and with the current state of the global economy, investing in a disaster recovery/business continuity plan may be the only way to ensure you’ll still be around when the economy recovers.
Unless you’re expecting not to be around next week, continuity planning should still be on your agenda. (Item #1) Bring the issue of business continuity management higher up the boardroom agenda and prepare for the potential fall outs from political instability, social unrest and economic meltdown. (Item #2) A modular approach to continuity planning could be the answer in a slow economy. (Item #3)
If you want to avoid high disaster recovery costs, providing your business a dependable safety net will do you a lot of good. (Item #4) A strong business continuity environment provides assurance to the organization’s executive management that in the event of a disaster, the organization is in a superior position to survive. (Item #5) Unsettled economic conditions can cause numerous business continuity challenges. (Item #6)