Analyze The Impact Of Elements In Business class is a part of HSC (11-12) [ এইচএসসি (১১-১২) ], business organization and management. You can find it in Business Environment, chapter 2, the topic name is “Analyze The Impact Of Elements In Business”. This class will help you in your upcoming HSC examination.
Analyze The Impact Of Elements In Business
What is business impact analysis (BIA)?
A business impact analysis (BIA) is a systematic process to determine and evaluate the potential effects of an interruption to critical business operations as a result of a disaster, accident or emergency. A BIA is an essential component of an organization’s business continuity plan (BCP). It includes an exploratory component to reveal any threats and vulnerabilities and a planning component to develop strategies for minimizing risk. The result is a business impact analysis report, which describes the potential risks specific to the organization studied.
One of the basic assumptions behind a BIA is that every component of the organization relies on the continued functioning of all the others. However, some are more crucial than others and require a greater allocation of funds and operational resources in the event of a disaster.
For example, a business may be able to continue more or less normally if the cafeteria has to close, but it would come to a complete halt if the information systems and IT infrastructure crash. It is easy to confuse BIA and risk assessment (RA); they are complementary steps in the development of a BCP.
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