Business Continuity and Disaster Recovery Plan
Contemporary business practice suggests that nowadays it becomes the task of paramount importance to ensure that the customers of the company are serviced in accordance with existing business standards on the permanent basis (Magnuson, 2009). The majority of the business scholars have reached the unanimous opinion, supported by the aggregation of the practical experience and empirical evidence that if a business unit that is actively engaged into the international and domestic business cycles fail to incorporate the discussed business continuity and disaster recovery solutions it is likely to collapse (Daniels et al, 2007).
The objective of this paper is to discuss and analyze the business continuity and disaster recovery plans that are offered for adoption in the business cycles of the Roshen Ltd. Company. The company is considered to be among the leading middle-sized manufacturer of chocolate in Europe, the United States, and the rest of the world.
How It Works
Under the concept of business continuity the one shall understand the actions and measures that have been encapsulated in a specific instrument and followed by the company in order to service their customers and suppliers on a permanent basis. Although the contemporary business paradigm precisely identifies that these business concept is dynamically assuming global significance, the unanimous opinion of the scholars and the practitioners has not been reached insofar (Joshi, 2009). However, the aggregation of those findings precisely indicates that this concept implicates the measures and activities that are taken by the company operationally in order to be assured that under financial or other organizational circumstances, the customers and the suppliers of the company will be nevertheless effectively serviced. The areas of business continuity doctrine can be integrally classified into several interdependent paradigms. In other words, the targeted processes are to be carried out in the field of human resources, financial activity of the company, customer service of the company and relations with the company suppliers. Provided that all of these measures are duly accentuated, it can be reasonably assumed that the company will be able to weather financial storms of any intensity. As far as Roshen Limited Liability Company is concerned, it shall be specified that the outline solutions are primarily of legal and IT natures. These solutions are to be progressively implemented, and their synergy can produce the results anticipated by the company Board of Directors. First and foremost, the most vulnerable paradigm of the company operational and tactical activities is the management of company finance (Bank of International Settlements, 2003). With regard to the most viable and effective solutions, it seems to be reasonable to establish reserve funds. In particular, regular financial deductions from the revenues collected by the company shall be made. The activity of the company major competitors suggests that approximately 5% are sufficient to meet the goals of the company under heavy financial constraints, provided that these funds are collected on the regular basis and not utilized for other purposes. Besides, the reasonable strategy is the deposition of those funds to the special banking account in where the interest will be accumulated and hereby the reserve fund will be automatically increased, and consequently the financial capacity of the company will be significantly enhanced. Moreover, the common opinion of the scholars is that the professional and accomplished financial consultant should shall be hired in order to provide counseling on operational and strategic issues, since in-house financial counsels of the company are not generally trained to adapt business continuity processes on a permanent basis (Daniels et al, 2009). Practically, the most effective and least costly solution is the outsourcing of the discussed services. Following the strategy, the necessary funds will be duly economized, whereas the objectives of business continuity process will be accomplished.
The actions connected with the business continuity processes have also been identified in the customers and suppliers relations paradigms. As far as a treatment of the customers is concerned, it is desirable to encapsulate a contractual provision that the customer's shall remain loyal and act in good faith when the company fails to carry out its contractual obligations in full scope and in full accordance with their existing obligations (Magnuson, 2009). Naturally, it shall be equally encapsulated that the company will take all the necessary actions in order to restore the normality of the business cycle. The same provision should be integrated into the contracts concluded with the company main suppliers. Although the suppliers may not be in favor of the discussed policy, ultimately it is considered beneficial for the both entities seems up on the renewal of the normal business processes, the cash flow's will be resumed in the mutual advantages collaboration will continue (Joshi, 2009). As far as the practical solutions of implementation are concerned, they can be divided into two spheres. The legal department of the company is vested with the responsibility to ensure that the contracts have been drafted in full accordance with the outlined recommendations, whereas the IT team must ensure that the software utilized by the company effectively and permanently monitor the situation. The IT-based solutions shall be supported by the practical experience of the company analytical department and by the analysis of the international and domestic business practices (British Standards Institute, 2006). The commentators have expressed multiple convergent opinions that if these strategies are launched exponentially, the synergy is likely to have a positive impact on the company business cycles.
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Disaster Recovery Plan
The composition and the practical implementation of the disaster recovery plans have assumed global significance. Conceptually, the disaster recovery plan can be defined as the instrument which stipulates the nature and order of the actions that shall be carried out by the company administrative and technical stuff in order to safeguard the security of the company personnel and, if possible, the recovery of the company financial and nonfinancial assets (Daniels et al, 2007). The development of the international business structures and continuing globalization have dictated that the adoption of these plans have become legally binding for the commercial entities operating in the countries of European Union and the United States of America. Developing markets have not already launched similar strategies, however it becomes more and more evidence that soon legal obligation of the corporate and solo practitioner's units to accept this plan will soon be effective. The disasters that jeopardize the company commercial activity can be classified into several areas. The group of environmental dangers encompasses the tornadoes, volcanic eruptions, the blizzards, the floods, torrential precipitation, human-based and natural fires. The second group includes the menaces that can potentially inhibit normal course of the company business cycles include those factors that have been generated by the activity of the human beings. The classification includes financial market calamities, the unforeseen intervention of the state financial and top financial authorities, and the collapses of purely technical nature such as power cuts, the inability of the software to function properly and effectively, and other factors. As far as the practical actions that are to be taken by the company are concerned, they are grouped into two categories as well. The first area of actions shall be implemented when the life and health of the company premises occupants is really or potentially endangered (Magnus, 2009). First and foremost, 911 agents shall be contacted and communicated about the nature and the scope of the calamity immediately. Then, it is desirable to contract special agencies, whose core competence includes that of the duration of the negative circumstances caused by the disasters. The second step is a strict observance of the instructions given to the company officials, administered and technical stuff by the authorized agents of those organizations. Then, the evacuation procedures should be started. First, the ladies and the personal with the diagnosed physical and mental disabilities should be evacuated and then, the evacuation of the rest of the personal is exercised. Provided that the staff and the customers attending the premises of the company have been duly evacuated, the assets the company shall be removed from the endangered area. Considering that all the above-mentioned measures have been fully implemented, the company technical and administrative stuff shall take preventive measures in order to limit the spread of the calamity (Joshi, 2009). Further, the instructions of the emergency services shall be precisely followed.
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Following the scenario when the life and health of the premises occupants are not endangered, the following actions of the company are recommended to be taken. Firstly, the assets of the company customers shall be collected and evacuated or isolated. Then, similar procedures shall be taken to safeguard the security of the suppliers' assets. To illustrate, these measures are to be taken when the companies assaulted legally and numerous financial claims have been launched at the same time to provide the activity of the company. When the obligation of the company staff to ensure that the assets of the company suppliers and customers have been fully fulfilled the companies authorized to start measures aimed at safeguarding its own assets and activities. It seems to be reasonable to highlight the fact that the situation can be used for the company's benefit, especially their recent viable possibility to obliterate the liabilities of the company, for which the litigation seems to be the most opportune option.
Having encapsulated the major findings of this report, it can be inferentially concluded that business continuity processes and disaster recovery plans are of tremendous practical and theoretical importance for the effective existence of the business. The adoption of these plans should be regarded as the task of vital importance for the company top management, whilst the administered extent of the company should organize permanent supervision over the activity of the company structural units to implement these plans effectively and in full accordance with that description.
- Bank for International Settlements. (2003). Sound practices for the management and supervision of operational risk. Basel Committee on Banking Supervision. Retrieved July 3, 2013 from //www.bis.org/bcbs/index.htm
- British Standards Institution. (2006). Business continuity management. Part 1: Code of practice. London
- Daniels, J., Radebaugh L., & Sullivan, D. (2007). International business: Environment and operations (11th ed.). Upper Saddle River, NJ: Prentice Hall.
- Joshi, R.M. (2009). International business. Oxford: Oxford University Press.
- Magnusson, T., Prasad, A. & Storkey, I. (2010). Guidance for operational risk management in government debt management. World Bank. Retrieved July 3, 2013 from //siteresources.worldbank.org/