We hear a lot about data breach these days, but when it comes to business continuity, the IT factors are only a small piece of the risk landscape. Your business continuity plan needs to cover all the risks your company may encounter, not just the obvious ones.
With so many clear risks and potential risks, it can be difficult to pinpoint exactly which ones to address in your business continuity plan. Some risks are easy to spot; others are commonly overlooked.
Every business is a digital business
The use of mobile devices and digital storage such as Dropbox and Google Docs is making even the low-tech businesses increasingly digital. And in the event of a disaster, all your documentation may not be in one place, making finding what you need when you need it that much more difficult, even if it’s not completely lost.
Long supply chains
It’s important to do what you can do to protect your supply chain, but the longer that chain, the more risk your organization has. Everyone in your chain has their chain, too—meaning situations such as the protests of the working class in China could have a significant impact on your organization’s ability to source supplies you need.
If policies and politics affect your business, which they probably do, it’s important to factor elections and election years (such as this year) into your business continuity plan. What happens when the politician who supports your industry loses the election? This factor is often overlooked in business continuity plans.
You need a plan
Business continuity only works if you have a plan. Unfortunately, far too often, organizations don’t. Business continuity planning requires foresight and believing that resources need to be used to plan for what no one expects will happen. As such, business continuity doesn’t always get the love it deserves.
There’s really no way to fully know what risks might affect your business down the road. Some risks are unpredictable. However, your organization needs to be prepared to be flexible and recover from as many risks as possible. To identify these risks, be sure to include as many departments as you can when it comes to having the conversation and assessing your risks to develop your business continuity plan