business-continuity

Vocabulary Word

Definition

'Business continuity' is a strategy that helps a business keep operating during a crisis. It's about planning and preparing for different difficulties, so your business does not stop even when things get tough.

Examples in Different Contexts

In risk management, 'business continuity' planning is essential for preparing a company to recover from unforeseen disruptions. A risk manager might say, 'Our business continuity plan ensures that critical functions can continue even in the face of a natural disaster or cyber attack.'

Practice Scenarios

Operations

Scenario:

Our supply chain seems vulnerable with the current global circumstances. What can we do to ensure the supply of goods remain unaffected despite any adverse events?

Response:

Our priority should be on strengthening our business continuity in operations and have alternative suppliers in place.

Business

Scenario:

Budget cuts have made it important to revisit our strategies. How can we safeguard our operations against unexpected disruptions?

Response:

We should review our business continuity plan thoroughly and make necessary changes promptly to counter any disruptions.