Risk is defined as the sum of probability of occurrence plus the impact on your business. Determine the impact of a risk by analyzing the effect on your revenues, customers, employees and property.
When an unexpected event occurs, employees must know which business functions are crucial and which can wait.
To be prepared for a crisis, it’s important to recognize the likely impact on your business. Review a few examples to consider during your analysis.
As part of your company’s business continuity plan, an action strategy should clearly outline the steps you should take to maintain your services / business functions in the event that a potential threat becomes reality.
If you’ve gone to the effort of protecting your business with a business continuity plan, ensure your action strategy will work through training and testing.