Workplace Continuity and Contingency Planning
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This paper analyzes and describes how businesses are impacted by natural disasters, using the example of the 2004 Indian Ocean tsunami. First, the paper discusses how in all the after effects of this disaster were managed well in terms of financial matters. In particular, banks were able to maintain their functioning, which showed they had strong emergency plans in place. The paper also cites the role of the World Bank in such situations, which includes mitigating the immediate suffering, assisting people to regain their livelihoods, restoring basic services to the affected population and initiating the recovery and reconstruction process. Then, the paper explores how business continuity following a disaster is driven by stockholders, government regulations and market forces. The paper concludes by stating that catastrophic natural disasters are not something that can be controlled, but they can be planned for.
From the Paper:"The tsunami, which devastated the coast of South and Southeast Asia, proved an opportunity for banks in the regions to test their emergency preparedness and to provide economic assurance to affected clients and employees. The business continuity plans for banks, operating within the countries affected by the tsunami, appears to have worked reasonably well under the circumstances. Banks in Indonesia and Sri Lanka reported that business continuity and disaster recovery programs came into operation effectively during the tsunami disaster. The banks made sure that clients were able to access lifelines in the form of deposits or loans. Sufficient business continuity planning enabled displaced clients to access deposits from ATMs and branches of banks elsewhere. Banks worked very quickly to assist employees and their families in the affected areas. At the same time they activated plans by sending personnel from other branches to re-open damaged offices in the disaster areas..."
Sample of Sources Used:
- Aceh Post-Tsunami Reconstruction: Lessons Learned Two Years On. (2006). Retrieved September 22, 2009, from The World Bank Web site: http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21164835~pag ePK:64257043~piPK:437376~theSitePK:4607,00.html
- Amato-McCoy, Deena M. (2006). Planning for Continuity. Retrieved September 23, 2009, from Bank Systems and Technology Web site: http://www.banktech.com/channels/showArticle.jhtml;jsessionid=RYFV5M4GLIPLBQE 1GHPCKHWATMY32JVN?articleID=181400621&_requestid=134655
- Business Continuity During A Disaster. (2008). Retrieved September 22, 2009, from Globafone Web site: http://www.satellitephonestraighttalk.com/businesscontinuity.htm
- Business Continuity Consulting: The Banking Industry. (2008). Retrieved September 23, 2009, from Avalution Web site: http://www.avalution.com/clientservice/industrypractices/Pages/Banking.aspx
- McDowell, Bob. (2005). What the Tsunami did for banking business continuity in South and South East Asia. Retrieved September 22, 2009, from IT-Director.com Web site: http://www.it-director.com/business/content.php?cid=7720#
Cite this Term Paper:
Workplace Continuity and Contingency Planning (2012, May 02) Retrieved August 13, 2022, from https://www.academon.com/term-paper/workplace-continuity-and-contingency-planning-150909/
"Workplace Continuity and Contingency Planning" 02 May 2012. Web. 13 August. 2022. <https://www.academon.com/term-paper/workplace-continuity-and-contingency-planning-150909/>