opportunities, threats) that attempt to identify vulnerabilities and potential challenges. Continuity Plan - Business continuity plans cover a range of situations, including the death of a key executive or manager, crisis events that threaten to shut down business operations for an extended period of time, and any other financial situation or unexpected event that threatens to destroy or injure the company. Continuity plans generally involve insurance policies that provide for the cost of keeping the company in operation, and the cost and hiring of consultants that are specialists in solving the types of problems besetting the company. Asset Security - Theft or destruction of intellectual property, such as trade secrets or computer programs, key machinery or equipment, or any other valuable assets a company needs for its operations and maintenance of its market position are generally covered by a security plan. This also includes the security of the company's internal computer network and confidential files. A security plan attempts to block any negative contingencies that might occur, but when they do, the company's contingency plan prescribes backup of certain customer and corporate records, and intellectual assets. Legal strategies are also included in a contingency plan for the purpose of helping to mitigate the damage created by such events. Mismanagement - theft, operational errors, mismanagement and personal scandal are all crises that require special public relations strategies as well as various types of insurance. The handling of these crises involves careful attention to legal considerations and liability to the shareholders and if not handled immediately with efficiency and confidence, they can ruin the company's professional image and ability to do business. For this reason, companies create a system of checks and balances to prevent such problems in addition to creating detailed action plans to deal with these contingencies. Reorganization - After the worst has happened, the company's contingency plan also covers how the company will re-establish normal operations and reorganize to limit any future contingencies. Reorganization to meet new challenges is important whether the company is dealing with negative events or the unexpected pressure of having to rapidly expand production to function in spite of the demands of a windfall order. Here is other important information to gather: Have a list of people or firms you can call in case of an emergency. Have a good data backup system so that you can retrieve all data you might lose due to some emergency. Prepare for unexpected equipment failures or repairs.
opportunities, threats) that attempt to identify vulnerabilities and potential challenges. Continuity Plan - Business continuity plans cover a range of situations, including the death of a key executive or manager, crisis events that threaten to shut down business operations for an extended period of time, and any other financial situation or unexpected event that threatens to destroy or injure the company. Continuity plans generally involve insurance policies that provide for the cost of keeping the company in operation, and the cost and hiring of consultants that are specialists in solving the types of problems besetting the company. Asset Security - Theft or destruction of intellectual property, such as trade secrets or computer programs, key machinery or equipment, or any other valuable assets a company needs for its operations and maintenance of its market position are generally covered by a security plan. This also includes the security of the company's internal computer network and confidential files. A security plan attempts to block any negative contingencies that might occur, but when they do, the company's contingency plan prescribes backup of certain customer and corporate records, and intellectual assets. Legal strategies are also included in a contingency plan for the purpose of helping to mitigate the damage created by such events. Mismanagement - theft, operational errors, mismanagement and personal scandal are all crises that require special public relations strategies as well as various types of insurance. The handling of these crises involves careful attention to legal considerations and liability to the shareholders and if not handled immediately with efficiency and confidence, they can ruin the company's professional image and ability to do business. For this reason, companies create a system of checks and balances to prevent such problems in addition to creating detailed action plans to deal with these contingencies. Reorganization - After the worst has happened, the company's contingency plan also covers how the company will re-establish normal operations and reorganize to limit any future contingencies. Reorganization to meet new challenges is important whether the company is dealing with negative events or the unexpected pressure of having to rapidly expand production to function in spite of the demands of a windfall order. Here is other important information to gather: Have a list of people or firms you can call in case of an emergency. Have a good data backup system so that you can retrieve all data you might lose due to some emergency. Prepare for unexpected equipment failures or repairs.
Business%20Plan%20Guide%202018.docx