Managing business continuity (BC) during a recession can be difficult. Every day, headlines in the media remind of us the impact of the recession on business and personal activities. Concern about where this is headed inhibits both planning and confidence. But suppose your organization recently had a large fire, or a cable was damaged and you had no electricity for three days. Incidents that can threaten a business occur in any economic climate. Below are some tips to help you leverage business continuity as you deal with the recession.
1. Use a business continuity management activity, such as a risk assessment, vulnerability assessment, to identify potential problems and improve processes.
2. Consider promoting the fact that you have a BCM program, this could be an important competitive factor.
3. When other firms are considering your firm for work, emphasize that you have a plan (only give out the index for security reasons).
4. If a full scale BCM is not in the budget, do smaller sub-projects over time.
5. Use a standardized business continuity format.
6. Identify, evaluate, and prioritize exposures, such as single vendor dependency.
7. Review outsourced work to ensure it will not be adversely affected by disruptions.
8. Review your current staff to make sure they are trained and available to maintain business operations.
9. Discuss emergency financing options with your bank to ensure availability of funds in a disruption.
10. Review business insurance coverage to ensure that you have sufficient coverage for identified outages or disruptions.
11. Even if your budget prohibits you from developing a full scale Business Continuity Plan, make sure that what you do is consistent with one or more standards.
12. Partner with a local first responder and other public sector agencies to ensure adequate protection.
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