Build Resilience Through Business Continuity Planning

Build Resilience Through Business Continuity Planning

Insider  |  Company Updates

There’s not a single business owner or CEO that doesn’t spend at least a portion of their time considering risks to their company. Those risks can include financial crises, natural disasters, cyber threats, civil unrest, trade agreements/restrictions, and even war. For many organizations, 2020 has shined a spotlight on just how critical planning for the unknown can be.

According to Search Disaster Recovery, “A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue operating during an unplanned event.” A BCP creates systems of prevention and recovery to enable ongoing operations before and during execution of disaster recovery. To create an effective BCP,

  • Have open lines of communication within the entire network
  • Ensure you have regular back-ups
  • Asses how potential risks may impact your ability to deliver products or services
  • Be skeptical and forward-thinking
  • Constantly watch the conditions of the market
  • Include force majeure in your contracts

Pegasus believes strongly in having a sound BCP that enables us to react immediately to threats as they appear. The COVID-19 pandemic and the subsequent ways it has been reacted to are a great illustration. While many companies across all industries have struggled and even closed, our preparations and planning enabled us to maintain a focus on our stakeholder model and service orientation. In fact, we saw zero negative impact on either service or margin performance over the first 90 days of the pandemic crisis. Prior to the outbreak, Pegasus had made the strategic decision to move to an all laptop environment. This along with the appropriate infrastructure, hardware accessories and training made our “work-from-home” move seamless for our employees, clients and vendors alike.

Our BCP is based on addressing risks in five fundamental areas:

  • People
  • Finance
  • Service
  • Image
  • Environment

Our people come first. Ensuring the safety of our team and the community is always our top priority. other 4 areas without negatively impacting any of the others. All areas of the organization (IT, HR, Facilities, Operations, Sales, and Executive Leadership) must have a voice in this critical planning. They must each then pegasus-logistics--teamtake the lead to see that all aspects of the BCP are socialized and trained to their specific teams.

Maintaining your BCP is another critical piece of the puzzle. Having clear accountability for annual review/update of the BCP must be a focus. Once there is a thorough BCP in place, all employees are trained and have awareness of their role, any company can better react to a changing world.

More and more, BCP is a component of any client relationship. Pegasus continues to see focus on BCP from clients. For many, review of our BCP is a component of our annual business reviews. Alignment with clients, vendors, and all company facilities to maintaining Business Continuity Planning in the face of challenges will enable any company the ability to withstand those challenges and persevere.

 

To learn more about Pegasus' business continuity plan, email us at info@pegasuslogistics.com or call us at 800-997-7226.