The Importance of Business Continuity Planning

Business continuity planning is the process whereby a firm figures out a plan of action that it will take in the case of unforeseen events. The process anticipates risk and helps limit the downside that companies may experience when adverse events occur.

While business continuity plans are common in large public entities, they often go uncompleted in emerging ventures. This is because emerging ventures typically have less resources and more critical day-to-day tasks to complete. As such, business continuity planning often gets pushed aside until it