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Risk Management Part Two

In: Business and Management

Submitted By Mark0816
Words 9611
Pages 39
B. Create a business contingency plan (BCP) that the company would follow if faced with a major business disruption (e.g., hurricane, tornado, terrorist attack, loss of a data center, the sudden loss of a call center in a foreign country, the collapse of a financial market or other catastrophic event) in which you include the following:
Business Contingency Plan (BCP) Definition: “Business continuity planning (BCP) ‘identifies an organization's exposure to internal and external threats and synthesizes hard and soft assets to provide effective prevention and recovery for the organization, while maintaining competitive advantage and value system integrity’. It is also called business continuity and resiliency planning (BCRP). A business continuity plan is a roadmap for continuing operations under adverse conditions such as a storm or a crime,” (Business continuity planning, n.d.).
1. Analyze strategic pre-incident changes the company would follow to ensure the well-being of the enterprise:

Notes: outline proactive suggestions that can be made in advance of potential risks actuating into disaster, e.g., training, drills, company policies and procedures and so forth.

Create strategic pre-incident strategy that incorporates the following elements and considerations:

• Identify potential risks for each IPC business operation in all its domestic and international locations. This identification process may include:

 Potential risks may be inherent to the various IPC business operations. For example, refinery business operation inherent risks may include occupational hazards such as fires due to highly flammable chemicals. Another such example may include toxic chemical spills that may affect IPC stakeholders such as its employees, chain supply entities, residents living near such refineries, the environment and animals living within such affected environs....

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