The paper "Business Continuity and Compliance" is an outstanding example of a business literature review. Business continuity mainly entails identification development, acquisition, documentation, and subsequent testing of the inherent procedures and resources that will ensure the constant continuation of the business or firm’ s main key operations. There are numerous threats to businesses, and, therefore, the establishment of the business continuity mechanism is highly relevant. Critical challenges for firms include the recurrent or instantaneous events of an emergency, accident, disaster or threat that is mostly unpredicted in business and has the power to plummet the business operations.
Business continuity mainly entails risk mitigation planning that hugely aims at eradicating the likelihood of occurrence of eminent adverse events in businesses. The application of both qualitative and quantitative methodologies is imperative in the analysis of the business continuity segments. The main players and people who have compliance with business continuity are mainly business administrators and owners worldwide who seek to ground their business in the most stable manner. Every segment of the business continuity relates to each other with the main aim of expanding the adaptability of the business. Underlying concepts and backgrounds Business continuity has been continuously been associated with certain underlying concepts and backgrounds like PESTLE which aims at expanding extents of business continuity.
The letters have a representation of political, economic, social, technological, legal and environmental which form the main evaluation tools for a new business zone. The second relevance is placed on the business recovery planning which mainly ensures that there is continued operations following the aftermath of any business disasters and thus critically aid in enhancing the Ability of the main operations of the business to continue without stoppage.
Disasters are common in the management of businesses. According to new statistics, 70 percent of most business owners do not anticipate a similar disaster, and therefore virtually half of the people normally have no plan to evaluate the ensure business continuity (Trupin & Flitner, 2012, P251).
Harrington, S. E., & Niehaus, G. R. (2013). Risk Management And Insurance. Boston, Mass. [U.A.], Mcgraw-Hill.
Rejda, G. E. (2011). Principles Of Risk Management And Insurance. Boston [Etc.], Pearson.
Trupin, J., & Flitner, A. L. (2012). Commercial Property Risk Management And Insurance. Malvern, Pa, American Institute For Chartered Property Casualty Underwriters/Insurance Institute Of America.
Dorfman, M. S. (2014). Introduction To Risk Management And Insurance. Harlow, Prentice Hall.