Take these steps to prevent storms or other events from crippling your business.
The Fukushima Nuclear Power Plant in Japan was reportedly built to withstand the impact of a moderate tsunami or earthquake. So why did it fail so spectacularly earlier this year? Because the disaster recovery plan didn't anticipate that both events might occur together, or that they might be stronger than envisioned. The resulting catastrophe halted the plant's ability to generate electricity and contaminated surrounding industrial sites. Around the world, automotive assembly lines were slowed or halted because key components were sourced only from the affected zone.
Companies can take several lessons from the crisis at Fukushima. One disaster can amplify another. Extremely unlikely events do happen. And disasters anywhere in the world may affect your supply chain. Here are a few ways to prepare for worst-case scenarios:
For more help in developing continuity plans, check out the Insurance Institute for Business & Home Safety's website (www.disastersafety.org) for training materials, conferences and research.
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