How Can Business Leaders Prepare for Potential Business Interruptions?
Preparation is key to minimizing the impact of business interruptions. Leaders can:
1. Develop a Business Continuity Plan: Create a comprehensive plan detailing steps to be taken during an interruption. 2. Maintain Financial Reserves: Keep sufficient reserves to cover expenses during the waiting period before insurance kicks in. 3. Invest in Technology: Utilize technology to enable remote work and maintain operations during disruptions. 4. Train Employees: Ensure that employees are aware of the business continuity plan and their roles during an interruption.