What does 'business continuity strategies' refer to in management? 🔊
Business continuity strategies refer to the plans and processes established to ensure that critical business functions continue during and after a disruption. These strategies involve risk assessment, resource allocation, and the development of contingency plans to address potential challenges such as natural disasters, cyber incidents, or pandemics. By preparing for disruptions, organizations can minimize downtime, protect assets, and ensure a more resilient operational framework.
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