The Importance Of Business Continuity Planning

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Recommended: Globalization and modern technology

The advancements in technology and globalization has created a world that is essentially flat, interconnected and interdependent. As a result, an event that impacts one nation or business has the capability of impacting several other nations and businesses around the world. This was evident by the snowball effect created by the September 11 terrorist attacks and the Great Recession of 2008. Because of such major events, businesses soon realized that though global connectivity is good for business, it is also dangerous for business continuity. Consequently, businesses are more focused than ever before to create comprehensive business continuity plans that can sustain true business resiliency and effective response from threats that cannot possibly …show more content…

In contrast with this well-articulated definition of business continuity planning, is continuity of operation. Which has been defined by the DHS, Federal Emergency Management Agency, as an “effort within individual organizations to ensure they can continue to perform their essential functions during a wide range of emergencies, including localized acts of nature, accidents, and technological or attack-related emergencies” (CGC 1, 2013). Despite the differences in terminology and definition, the core reason for having a BCP or COOP is to help entities effectively recover from disaster as soon as …show more content…

Private institutions however, has a slightly different method in established leadership and succession. Although business continuity plans are created using a holistic approach, strategic decision making and responsibilities are delegated through a top-down approach by a CEO. Hence, making it the responsibilities of top board members and senior management to ensure management oversight and approval to risk management, recovery strategies and overall program management. Everyday employees and managers are also awarded the responsibility of implementing and maintaining the

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