What is Business Continuity Planning ?
‘Business Continuity Planning’ is the planning of a company to tackle any kind of changes due to which the daily functioning of the company is interrupted. For example, disaster management is a subset of business continuity planning, which is the planning for any kind of natural calamities.
Similar kinds of plans could be prepared for poor economic conditions, supply chain infrastructure failure, etc. which could deal with the corresponding issues. These plans could be either developed by the companies themselves or developed for them by some regulatory body.
A ‘Business Continuity Planning’ or BCP is a subset of risk management. They are created considering all the stakeholders as well as the employees with the help of regulatory bodies.