Business Continuity Planning Definition

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It implies the responsibility of the business owners and management for the business in ensuring that it stays afloat and “on course” despite any obstacles or stumbling blocks it encounters along the way.

This responsibility is incorporated into the greater management process of the business, and what is also referred to as “Business Continuity Management”or BCM.

But the term actually means more than what the words literally mean.

The International Organization for Standardization, in ISO 22300, defined “business continuity” as the capability of an organization to continue the delivery of its products or services, at acceptable predefined levels, following a disruptive incident.

What the company is looking at is a profit level that is much lower than their usual level of earnings.

Of course, if profitability gets a major hit, this will also have adverse effects on business growth strategies.Thus, they make every decision with continuity of the business in mind, while taking into account the possible effects of unexpected events that may lead to disruptions and interruptions in business operations.If we are to take the phrase “business continuity” for its surface value, the most obvious meaning would be the ability of the business or enterprise to continue operating as a going concern for a very long time.Salvaging remaining equipment and machinery will also entail spending on transportation and hauling services.Incidentally, if the factory workers are paid on a monthly basis instead of on an output basis, they will still be paid their regular compensation rates.We can probably enumerate more than a dozen reasons why businesses should create and maintain BCP initiatives but, at the end of the day, there is only one ultimate goal or purpose for it, and that is to help ensure that the organization, business or company has the required resources, information, and capabilities to deal with emergencies and similar unexpected events, particularly their aftermath.You will probably be able to appreciate BCP even more if you have a clearer idea of what the business can gain from it..boxy-content a.term-action, button.term-action a.term-action:hover, button.term-action:hover .term-action-bg .term-uex .term-cite .term-fc .term-edit .boxy-dflt-hder .definition .definition a .definition h2 .example, .highlight-term a.round-btn, a.round-btn.selected:hover a.round-btn:hover, a.round-btn.selected .social-icon a.round-btn .social-icon a.round-btn:hover a.round-btn .fa-facebook a.round-btn .fa-twitter a.round-btn .fa-google-plus .rotate a a.up:hover, selected, a.down:hover, selected, .vote-status .adjacent-term .adjacent-term:hover .adjacent-term .past-tod .past-tod:hover .tod-term .tod-date .tip-content .tooltip-inner .term-tool-action-block .term-link-embed-content .term-fc-options .term-fc-options li .term-fc-options li a .checkmark .quiz-option .quiz-option-bullet .finger-button.quiz-option:hover .definition-number .wd-75 .wd-20 .left-block-terms .left-block-terms .left-block-terms li .no-padding .no-padding-left .no-padding-right .boxy-spacing @media (min-width: 768px) @media (max-width: 768px) @media print { a:link:after, a:visited:after nav, .term-action, #wfi-ad-slot-leaderboard, .wfi-slot, #related-articles, .pop-quiz, #right-block, .Except for time-bound enterprises, or business ventures that are started with the intention of terminating operations and liquidating the business at the end of a year or two, businesses are established with a long-term outlook.Similarly, when a manufacturing plant is unable to operate even for a couple of days, the company will not be able to produce the average output of finished goods for distribution.Reduced finished goods inventory means reduced number of products to be sold, which will ultimately result to reduced sales and revenues.

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