Help! Help! Due in 30 minutes.
Board of Directors could reap a variety of benefits from potential measures they discuss. First, implementing a solid business continuity program would allow the organization to minimize risk as well as prepare it for future interruptions due to disasters and other events. It would enable them to continue operations during times of crises and minimise losses.
A solid plan can also help to build confidence among investors and business partners, by showing that an organization is well prepared in such situations. You can improve the morale of your employees by letting them know that they are covered in case something happens outside their control.
This decision may have some unintended effects, such as higher costs for developing contingency planning or more training for the staff who are responsible for implementing these plans. In addition, this decision could cause confusion within employees and impact the productivity of the company if it is not implemented properly. It is therefore important that boards weigh these various factors before deciding if such measures are needed.