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4349 The World without Bankruptcy Laws

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4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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In the business world today, every customer expects Organizations to walk the talk. Being sensitive to customer expectations and to ensure that the business operations are not hampered due to any reason, organizations have begun to take the concepts of Disaster Recovery and Business Continuity plans seriously.

The concept of Disaster recovery is of prime importance in technology companies who cannot afford any instability of failure of their systems and processes due to failure of hardware, software, applications, database, network, communications or any other technology related area. However the concept of planning for disaster recovery is not limited to technology companies alone. Most of the multinational and global organizations, research organizations as well as service sector organizations including banks, credit card companies, airlines, hospitals and others too have adapted this practice. In the ultimate analysis they have realized that it pays to cover yourself against any possible risk or threat to your business and the cost of doing so is considered to be a necessary expenditure.

Disaster Recovery and Business Continuity plans are mainly focused on getting the business process up and running in the least minimum time. However it may be noted that Disaster Recovery is not the same as Business Continuity, though both are interweaving most of the time. In both cases, the recovery plan involves the concept of Disaster Recovery or Business Continuity Center or site. One has several options available to locate and setup the DR or BC Center depending upon the nature and size of business, the criticality of business processes, location and many more parameters.

DR or BC site refers to an alternate site or location that is fully equipped and ready to use in case of emergency or need. When in case of crises or a threat, if the systems fail and the business is hampered, then a team of workers can immediately relocate to the DR or BC Site and start minimal operations as planned. Thus the DR or BC site provides an alternative and ready solution to ensure that the business is up and running.

Depending upon the plan and the nature of business, Organizations can use any one of the following options to set up the DR & BC Center.

  • Set up an alternative site and an office within the city in another location, complete with connectivity, systems and all infrastructures required to resume business.

  • Global and Multinational companies have the option of using overseas facilities as DR & BC site and relocate their business process to start immediate operations.

  • In case of Companies having branch offices in the same city or other cities, such branches can be used as DR & BC Sites.

  • Identify and tie up with third party vendor who operates and is able to offer DR & BC site as a commercial proposition.

  • In case of Business continuity, the warehouses or the homes of employees, local business centers can also be used as DR sites to resume minimal operations.

Using the above options depends upon the business operations and the financial outlay budgeted in the DR & BC Plan. In case of IT system recoveries, the options will have to be worked out more elaborately.

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