The risk context in which Belgian companies operate has changed significantly in recent decades. Whereas in the past most of the risks were to be found within the company walls (such as fire), today most of these risks come from outside. Think of the impact of fluctuations on the financial markets, the consequences of climate change or the increasing threat from international cyber gangs.
A company has much less control over risks that originate from outside. To manage these risks properly and thus guarantee the continuity of your company, we have developed a powerful management tool – the Business Continuity Plan.
A Business Continuity Plan is a strategic plan that describes potential calamities and their consequences as well as the measures to be taken when such a situation or problem occurs. A Business Continuity Plan protects a company’s continuity after negative events, which are often unexpected.
To draw up a Business Continuity Plan, the first thing you have to do as an entrepreneur is to identify the potential risks for your company and to what extent you can manage them.
Because there are different calamities a company may encounter, the Business Continuity Plan consists of different scenarios. Not every event has the same consequences for a company, which is why each scenario thoroughly describes what the consequence of a specific risk means for the company and how the company should deal with it.
After all the company’s vulnerabilities have been identified, you will work with internal or external stakeholders to develop solution-driven strategies to tackle potential escalations as quickly and effectively as possible. These strategies ensure that the potential calamities do not compromise your company’s continuity.
It is essential for these strategies to contain concrete information. What steps should you take to continue to provide services to your customers if a strike interferes with freight traffic? Who can you contact to have a new production machine at your disposal as quickly as possible? Which alternative supplier can you call on if your regular supplier goes bankrupt?
By making clear agreements in advance and recording these in a Business Continuity Plan, you can tackle a crisis faster and more efficiently.
As a business broker specialising in risk analysis, we are familiar with the pitfalls and risks your sector faces.
To help you prepare a Business Continuity Plan, we have developed a comprehensive white paper. This includes an overview of the risks your company is exposed to today and a 10-step plan to start your own Business Continuity Plan.
If you would like to receive the white paper for free, send an e-mail to email@example.com.