What is the primary goal of business continuity planning? The answer to that question will differ depending upon the company in question. A small pizza shop may need the services of a lawyer to ensure that there are no legal troubles that might arise from a pending food safety audit. While such an audit might be a nuisance, it could end up being a disaster for the business and its customers. Business continuity planning is necessary in all businesses, large or small.
However, you do not have to be a small business to benefit from planning.
Large corporations understand that staying on top of what is the primary goal of business continuity planning can lead to increased profits and a more stable business future. Small businesses may not have the resources that large corporations have to cover every eventuality, but they do not have to. A solid plan can help small businesses avoid legal problems while also helping them deal with unexpected problems that may arise. In fact, these unexpected problems could have the secondary effect of decreasing customer satisfaction, which directly affects the bottom line.
How does a business continuity plan to help the company in question? First, a plan can help you reduce expenses. Some businesses spend a great deal of money each year on insurance that can be avoided by simply making a plan. Your business continuity plan can help you save on annual policy fees and premiums. This can mean the difference between being solvent or insolvent. By cutting down on legal costs and overhead costs, your company can increase its cash flow, which in turn can lead to increased profit.
Second, by outlining in black and white where you want to go, you can ensure that you are moving in the right direction. One of the main reasons that companies experience financial trouble is because they have a lack of focus. They often have goals that seem too long term and impossible to achieve within a set period of time. With what is the primary goal of business continuity planning, you will be able to outline short term goals that must be met before long term ones become relevant.
Last, but not least, what is the primary goal of business continuity planning also can help you determine if the venture is moving in the right direction. A company that does not have a sense of direction is like a ship without a rudder, traveling aimlessly across the sea. You can either insure your business against disasters, such as natural disasters, or you can chart a course for the ship so that it eventually sails successfully.
In conclusion, what is the primary goal of business continuity planning? The answer to this question is quite obvious, but one that few companies seem to understand. It is the purpose of any business to profit, so anything you can do to improve the profitability of your business should be done. What is the primary goal of business continuity planning? It is profit!