How do you secure your business continuity?

Assessing risks in business is akin to playing a strategic game of chess. You must not only identify your opponent's moves but also anticipate the unexpected. Just as in chess, where each piece has its unique capabilities and vulnerabilities, every aspect of your business carries its risks and opportunities. By carefully evaluating these, you can make informed decisions that position your business to stay ahead in the complex game of the market.

Risk assessment can be done in various perception(formats) like qualitative, quantitative, generic, site-specific, and dynamic risk assessments. These formats of assessing risk, give you a more extensive view and nich out when selection arises for that specific risk. Risks are supposed to be assessed subjectively for better insights and analysis.

Since labor is mobile, always the institutes face the challenge of a lack of replacements when experienced employees leave the institute. The management should always have a backup employee available to fill in for those who may have left the institute. This backup employee should be exposed to different functions so that when the time arises to fill in the space of that skilled employee who has left, this individual is not that green when put in the vacant position.

After selecting a plan to support business continuity it should be feasible with the policies, employees, processes, and systems. An example could be hiring an employee to act as a backup plan if some employees are likely to leave the institute. This should be well aligned with the institutes' structure, processes, and systems such that the business doesn't get a critical gap in employee skill and experience when the old employees leave as we will already have available options to fill in the gap hence implementing a business continuity plan.

Since most times we work in cross-functional teams, testing and reviewing of our set plans should be reported by all kinds of functions since each function has different ways of concluding on plans and projects hence having a rich insight when adding up the total reviews as a team.

I would add a section at the start about getting executive buy in and a corporate policy. Without those, your chance of success is severely reduced.