Of course, there are a million possibilities that might occur at any time.
But creating a business contingency plan can at least help you to prepare for the unknown.
Have a crisis plan in place: You should also have a plan in place for emergencies, including employee roles in such a situation and the key actions that would need to be taken.
I remember following the 7/7 attacks in London, I suddenly realised that we didn’t have all the contact numbers of staff easily accessible anywhere, so we now have those ready, as well as next of kin.
A business contingency plan is a course of action that your organization would take if an unexpected event or situation occurs.
Sometimes a contingency can be positive—such as a surprise influx of money—but most often the term refers to a negative event that affects an organization’s reputation, financial health or ability to stay in business.
These include a fire, flood, data breach, major network failure and more.
strategy because they help ensure your organization is ready for anything.
We decided that the biggest realistic issues we could face would be the internet going down, or being hit by a cyber-attack.
We would also have serious problems if numerous employees were unable to get into work for some reason.