On BU$I₦£$$ DIG£$T this morning, October 13, 2021
BUSINESS CONTINUITY and SUCCESSION PLANNING Part 1of2
Business Continuity is an organization’s ability to ensure operations and core business functions are not severely impacted by a disaster or unplanned incident that take critical systems offline or unaware.
There are various Business Continuity Plans that can be put in place and it ranges from nature of business to the types of operations and customers involved.
On the other hand, Succession planning is a strategy for passing on leadership roles; often the ownership of a company to an employee or group of employees. Also known as “replacement planning,” it ensures that businesses continue to run smoothly after a company’s most important people move on to new opportunities, retire, or pass away.
The rhetorical question here is;
Dear Consultant, Trainer, Coach, Business Owner, Self Employed;
Do you have a Business Continuity Plan for your business as at today?
If a major disruption happens today within your business even death, what is the succession plan on ground?
We shall be reading an example on Business Digest tomorrow!
_If you learnt anything from this, kindly share with someone out there._
_*Dr. Emmanuel Idenyi Shaibu*_
_animn, ace, f.hcd, f.dss, m.frcn, fimc, cmc, cms, FAiPA, DPA, ACCrFE_
The Millennium Entrepreneur!