Naslov
Business continuity planning in the atmosphere of the COVID-19 pandemic

Autori
Markotić, Ivan ; Mihaljević, Branko ; Rendulić, Vlado

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of The International Scientific Conference Zagreb, Croatia, 26th and 27th November 2020 / Baković, Tomislav ; Naletina, Dora ; Petljak, Kristina - Zagreb : Faculty of Economics and Business Zagreb & Croatian Chamber of Economy,, 2020, 39-51

ISBN
978-953-346-148-9

Skup
Trade Perspectives 2020: The interdependence of COVID-19 pandemic and international trade

Mjesto i datum
Zagreb, Hrvatska, 26.11.2020. - 27.11.2020

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
plan ; continuity ; business ; COVID-19

Sažetak
Business continuity management is a topic that is present and very current in the business world. Sometimes there is a feeling that business continuity management is like a Jeti, everyone is talking about it and no one has seen it. Interruptions in the course of business processes and operations of companies cause directly measurable financial losses to companies. In addition to these measurable losses, business interruptions can cause other losses such as a loss of credibility with clients, a market position or the company's reputation. These other losses can also have very serious consequences on the company's business. Every company must be aware of all potential risks that can interrupt the business. The company must timely prescribe procedures and work instructions that allow it to maintain the vital business functions that are necessary for the business system to maintain active status, and continue to communicate with the market. A business continuity plan is a document that consists of procedures a company needs to apply to ensure the smooth and continuous operation of all significant processes and systems. An integral component of a business continuity plan is a disaster recovery plan that contains strategies for handling unforeseen events. The disaster recovery plan determines technical and organizational measures for the re- establishment of business as soon as possible, and for mitigating the consequences of business interruptions. The purpose of a business continuity plan is to ensure that a company can survive a critical incident. The plan provides an immediate response to the crisis to shorten recovery time and mitigate its impact. The COVID-19 pandemic is a "critical incident" for the world like never before. With an unknown scope and duration, global implications, and without the possibility of accurate projections, it is fair to conclude that we are in a yet unexplored area. How does the world react to the COVID-19 pandemic? It is probably not an ideal time for management to focus on developing complex business continuity plans. However, it is important to prepare some key points of the business continuity plan because they can help a company improve its recovery time and upward trajectory.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Politologija, Sigurnosne i obrambene znanosti

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