Incrementing technology advancements and ecumenical marketing engender advantages and disadvantages for organizations in business. Advantages provided to organizations from advancing technology include incremented revenue, higher productivity, and elongating customer reach. Although, disadvantages include, viruses, loss of data or privacy, and susceptibility to cyber-attacks. Eminently, disasters are capricious and can result in both economic loss and damaged reputation. Imperatively, the engenderment of both a disaster instauration plan and a business continuity plan are essential in any business. “Statistics have shown that about 75% of businesses without a continuity plan will fail within three years after a disaster strikes (Business continuity,
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“The disaster recovery plans and business continuity plans are interdependent.” (Smith, 2017) The disaster recovery plan highlights detailed strategies directing employees during and following a disaster. Whereas, “the business continuity plan takes the disaster recovery plan one step further.” (Smith, 2017) Although both plans cover similar features, they also have distinct differences. For example, preparing for a fire by installing fire alarms vs installing recovery plans following a disaster. (Smith, 2017) Therefore, consideration of these differences before composing a business continuity plan is vital to the corporation’s future …show more content…
First, identify risks through researching areas of high concern including; Software instillations (technology risks), area that the business is located in (environment risks), building management (workplace hazards), and internal and external employees (personal risks). Second, include all areas of management in the development and initiation of the plans including training employees in the event of an emergency. Third, assign areas of risk consistent management supervision, and enforce precise communication. Finally, “Common metrics include the number of risk assessments and business impact analyses (BIAs) conducted or reviewed on time, number of plans, which business units have plans, plans reviewed on time, plan teams trained on time, plans exercised on time, awareness sessions completed, etc. (Kadar, 2015,
“The disaster recovery plans and business continuity plans are interdependent.” (Smith, 2017) The disaster recovery plan highlights detailed strategies directing employees during and following a disaster. Whereas, “the business continuity plan takes the disaster recovery plan one step further.” (Smith, 2017) Although both plans cover similar features, they also have distinct differences. For example, preparing for a fire by installing fire alarms vs installing recovery plans following a disaster. (Smith, 2017) Therefore, consideration of these differences before composing a business continuity plan is vital to the corporation’s future …show more content…
First, identify risks through researching areas of high concern including; Software instillations (technology risks), area that the business is located in (environment risks), building management (workplace hazards), and internal and external employees (personal risks). Second, include all areas of management in the development and initiation of the plans including training employees in the event of an emergency. Third, assign areas of risk consistent management supervision, and enforce precise communication. Finally, “Common metrics include the number of risk assessments and business impact analyses (BIAs) conducted or reviewed on time, number of plans, which business units have plans, plans reviewed on time, plan teams trained on time, plans exercised on time, awareness sessions completed, etc. (Kadar, 2015,