A must to have a business contingency plan

[Starmix]

If you are having a business, it is a must to have a business contingency plan. It is a backup strategy for your business, There are unforeseen things that may happen along the way in your business like a software service that may go down for more than five hours, and what must you do? A contingency plan protects your business. You need to back up your website in case hacking happens. There are five-step frameworks when creating a contingency plan: 1. Identify/prioritize your resources 2 Pinpoint the key risks 3. Draft your contingency plans 4. Distribute your plans and 5. Maintain each plan.

 

[Suba]

A contingency plan is an alternative plan to anticipate the occurrence of unexpected conditions. A contingency plan is also useful for mitigating the risk of loss and saving the lives of employees by notifying them that if there is an emergency, for example a fire, all employees must go to the underground passage that will lead to the exit of the building.

 

[eLdavis]

I came across a guy who said even your backup plan for your business needs a backup plan. It was funny then but it actually makes a whole lot of sense.

 

[Starmix]

I came across a guy who said even your backup plan for your business needs a backup plan. It was funny then but it actually makes a whole lot of sense.

That is right, that is what my IT friend is doing in his business, he has a contingency plan to back up the possible hacking and back up the back up to assure of safer data retention.

 

[Kirubel]

In the business world we can't be sure what will happen and what will not going to happen, so having a plan for those bad days when something unexpected happens is a wise thing to do, so when we start any business we need to have an emergency planes too.

 

[Starmix]

I believe all businesses have a contingency plan. They are experts on this matter. Those new business operators must ask help from those they know to avoid losses or damages.

 

[Kirubel]

Indeed, all businesses have a contingency plan, but maybe those new business owners and starters may not know about this thing and they may start a business without having a plan B and without having an emergency plan which they can use when unexpected things happen.

 

[Starmix]

Having a contingency plan helps us in case we have business. It's also important to maintain them. We never know when risk shows up to our face and we're not ready, it's a disaster.