Contingency planning

Q&A By UNIQUE BUSINESS IDEAS

Process of preparing for unexpected events or crises that could disrupt business operations

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Involves identifying potential risks, developing response strategies, and testing them

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Helps to minimize the impact of emergencies on employees, customers, suppliers, and assets

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Examples of contingencies include natural disasters, cyber attacks, power outages, or pandemics

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It is important to continuously reviewing & updating the contingency plan based on changes in internal or external environment.

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A key element of business continuity and risk management. Enhance company's resilience & reputation.

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UNIQUE BUSINESS IDEAS

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