Business continuity plan importance

Business continuity plan is important because of maintaining security measures. This is mostly used by companies who have stored their information on the internet. They face challenges like overloaded systems, other people hacking confidential information that could compromise the security of a company and other internet related problems. A business continuity plan will help to maintain a high level of security of an organization.

Needs of e-commerce organizations versus retail organizationsa

The main needs for e-commerce organization versus retail organization are security on the internet. E-commerce organizations use the internet to carry out almost all the transactions of a business deal. This is especially money transactions. The e-commerce organizations need to protect the privacy of their customers' details to avoid incidents like frauding identity and credit cards. This way they will maintain customer loyalty (Hiles, 2004).

Leveraging resources to comply with regulation of the industry

There is an importance of leveraging resources on security to measure up to the regulations of the industry. This can be done by adding facilities that can be used in increasing the level of security. They include computers, servers, and backups. They can be programmed to secure confidential information and also record everyone who accesses them. If possible programs can be installed to detect any unauthorized access. This will increase privacy and confidentiality of company information and that of its clients.

Business continuity plan for a storefront with an e-commerce site and reason for a formal business continuity plan

Every business should have a business continuity plan. It has been discovered that this plan is the cheapest product that insurance firm can cover. Therefore there is no reason as to why a business should not have one. For example, a small store front's plan should involve an analysis of the possible threats. Then all assets should be used to curb the threats as well as making any recovering of losses made. This way the store will remain competitive. It would be even more convenient for the sore to have an e-commerce site. This will expand its market and make it convenient for clients to buy products from wherever they are without many hustles. It is relatively affordable to start a website where e-commerce would take place. However, the store security personnel must always maintain high levels of security alerts to maintain customer loyalty (Goh, 2004).

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