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Volume 27, Issue 3

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May 15, 2013

The Importance Of Business Continuity Planning: Dealing With Inevitable Risk

Increased awareness of the need to prepare for risk and risk of disaster does not always translate into action. One of the reasons businesses choose not to become more actively involved in planning for increased preparedness is that they feel prior events are not likely to recur or that the effects if they were to occur would not be overly severe.[1] Interestingly, while the Asia-Pacific Economic Cooperation (APEC) region accounts for 40 percent of the world’s population and half of global gross domestic product, the area sustains almost 70 percent of the world’s natural disasters.[2] A 2011 survey among APEC member economies found that only 15.9 percent of small and medium-sized enterprises and 52 percent of large company respondents have a business continuity plan.

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http://www.metrocorpcounsel.com/articles/23847/importance-business-continuity-planning-dealing-inevitable-risk