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Winter Journal

Volume 32, Issue 4

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Friday, 22 October 2010 16:00

Redefining Hazard Analysis to include the ‘Economic Disaster’


Businesses have come a long way in the process of continuity planning and planning for disasters. Although these plans are meant to be a living and dynamic process, many have developed impressive contingencies that promise to ensure the longevity through the worst incidences, that lately, have seemed to occur more and more frequently worldwide. In more recent years, an old nemesis of “economic fluctuation” has reared its ugly agenda and placed even more pressure to not only trim the proverbial fat but now to decide which muscle layers in which to carve. In the past, industry leaders did not focus so much on business continuity or preparedness because the response to disasters was an unrecognized priority. The fact is, there have always been disasters, and businesses have always had to recover from them. Another fundamental truth, however, is that there have always been economic changes that have severely impacted businesses either financially