Business Continuity Resources

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Business Continuity Resources

Answer 1

Business continuity means regularity in the business firm. A business firm and its stakeholders such as employees, customers, management, suppliers, etc. are affected if a situation of business discontinuity occurs in the organization. Discontinuity in the business organization cannot be predicted by any one, so it is essential for all the business organizations to make some effective and appropriate strategies and plans to maintain the continuity of the business (Doughty, 2000).
Business is an ongoing process which continues throughout the life. To maintain the business continuity several resources are important like human resources, financial resources, physical resources, intangible resources etc. Among all these resources, the three important resources are human resources, financial resources and intangible resource. All these three resources are distinguished from each other. The human resources are the life water of the business. Without human efforts, no business can have good planning process and in the absence of appropriate planning the business can not run long life. Human resources have physical appearance.

The financial resources are also equally important for the business continuity. Without sufficient amount of funds, no company can invest on the required level. The production capacity of the business mainly depends on its working capital. In the absence of sufficient funds, the business continuity is not possible (Jacobs, J., Posluns, P., Clemmer, Dalton, & Rogers, 2003). The financial resources also physically required. The main difference between both the resources is that without human resource there is no utilization of the finance. The intangible resources like goodwill, brand name and intellectual property rights have no physical existence like the human and financial resources. These resources are also very essential for the continuity of the business.

The conflicting guidance from these resources can be resolved by making a balance between all these resources. All the resources are required to be managed on a required level. The human resources assign the funds in different activities. If they are not skilled, the allocation of funds is not possible on required level. The intangible resources like goodwill are also depended on the human ...