Disaster Planning For Businesses

The percentage of organizations that lack any semblance of a plan is, simply put, frighteningly large." Levitt also noted that many disaster contingency plans that do exist are "applicable only to certain specific business processes (put another way, it is designed only to rescue specific bits and pieces of the business, not to save the entire organization!)." Many other companies' disaster planning policies, meanwhile, seem to consist only of disaster insurance."The fact is that the majority of private-sector management is still reluctant to allocate the necessary time, staff, or funds to prepare and plan for the possibility of a disaster that may put them out of business," according to .

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There are opportunities for program improvement following an actual incident.

A critique should be conducted to assess the response to the incident.

A disaster recovery and business continuation plan, however, has three objectives: 1) Prevent disasters from happening; 2) Provide an organized response to a disaster situation; 3) Ensure business continuity until normal business operations can be resumed."It is essential, then, that small businesses take the time and effort to construct comprehensive disaster and recovery plans if they hope to weather unwelcome interruptions in business operations in good financial and market condition.

"Some call it Crisis Management," remarked magazine.

The first step in creating a strategy (or reviewing existing contingency plans) to protect a company from these and other events involves mustering the necessary business will to undertake the challenges associated with the task.

However, business observers contend that many companies fail in this regard.Commercial insurance companies also offer a variety of disaster insurance policies and planning services – however, normal business insurance policies do not cover flood damages.Small business owners are strongly encouraged to make contingency plans for responding to and recovering from disasters that may befall them.It really doesn't matter what it's called as long as your company does it."."For example, unless you've experienced a fire, you may not realize how extensive fire losses can be."If there are dozens of exposures you may find dozens of answers'¦.Many business owners use a risk analysis questionnaire or survey, available from insurance agents, as a checklist." These questionnaires will typically address the business's vulnerability to losses in the areas of property, business interruption, liability, and key personnel, among others."However, using insurance policies to protect against the loss of cash flow, the ability to service customers, or the ability to maintain market share is often not practical'¦.The primary function of business insurance is to provide a hedge against loss or damage."Others call it Disaster Management, Emergency Preparedness, Business Resumption, or Contingency Planning.The newest 'buzz word' is Business Continuity Planning.


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