Importance of Strategic planning for Training
| Type | Citation | Sources | Views | Words | Pages | Essay # |
|---|---|---|---|---|---|---|
| Term Paper | Harvard | 50 | 64 | 16126 | 55 | 64018640 |
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Even brief business interruptions can mean reduced revenues, lost customers or reduced market share, says Davies and Walters (1998, p.5). This is because even small and medium-sized businesses, in any country, play a major role in the economy; thus, it is important that their business operations are rigid and the effects of disruptions in a service are minimised in order to maintain public trust and confidence in the business world. Effective strategic planning establishes the basis for businesses to maintain and recover business processes when operations have been disrupted unexpectedly
A large majority of what must be handled in strategic planning is business continuity planning (BCP). These kinds of plans are created to prevent interruptions to normal business activity. They are designed to protect critical business processes from natural or man-made failures or disasters and the resultant loss of capital due to unavailability of normal business processes. The aim of BCP is to minimise the effects of a disruptive event on a company. The business continuity plan should also help minimise the cost associated with the disruptive event and mitigate the risk associated with it......
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