Long-term disaster recovery
Once you have prepared your new or revised business plan, it is time to reflect on lessons learnt from your recovery to ensure that your business is in the best possible trading position.
Recovering from a disaster may be a drawn-out process especially if you had not planned for such an eventuality. Nonetheless, you would have learnt valuable lessons from the experience that should be incorporated into your ongoing business plan/operations. For example, you may have found the need to develop a disaster management and recovery plan for future events. You may also have learned that to mitigate the risk of losing hard copy financial records in a disaster, you may want to use cloud-based financial software.
Improving Business Performance
As you take the path to recovery, you may make many observations on how your business was operating before the event. You will have hopefully noted how the market has changed, and you will most likely have identified several areas in your business that could be improved.
One of the most important things to do when your business is recovering from a disaster is to look for improvement opportunities and to build a continuous improvement process. Implementing a continual improvement program in your business will ensure that all key business resources are being utilised efficiently and effectively. It will also help ensure that your business not only responds to changing business conditions but prospers in such conditions.
Many activities can be reviewed and undertaken to improve the overall performance of your business. For more detailed information on how to improve the performance of your business, visit CPA Australia’s guide to ‘Improving business performance’.
Checklist of long-term disaster recovery issues (PDF, see page 31)