Develop your Business Continuity Strategy

Most likely the board will consider the options for continuity which will often be one of the following strategies:

1. Accept the risks and change nothing
2. Accept the risks, but make a mutual arrangement with another business (competitor/Business Continuity Specialist) for help
3. Attempt to reduce the risks
4. Attempt to reduce the risks and make arrangements for help after an incident as in 2
5. Reduce all risks to the point where you would not need outside help

All of these approaches will still need a detailed plan to outline the arrangements for the incident.

 

You will also need to consider how quickly recovery will need to occur for the strategic areas of your business or various departments.  it may be useful to draw a chart of the timescales involved in re-establishing certain functions. 

 

One essential decision is how you respond to risks that cannot be reduced.

 

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