Business Chapter 21

Question 1

Business continuity plan

Answer 1

Shows how a business will operate after a serious incident and how it expects to return to normal in the quickest time possible

Question 2

Business interruption cover

Answer 2

A type of insurance that covers the cost of income that a business suffers after on disaster.

Question 3

Contingency planning

Answer 3

The creation of plans for how particular crises might affect a business in some way, such a fire which destroys the premises or cyber attack

Question 4

Risk assessment

Answer 4

Identifying and evaluating the potential rises that may be involved in an activity that a business proposes to do, and then ensuring compliance with health and safety laws

Question 5

Risk mitigation plans

Answer 5

Identify, assess and prioritise risks, and plan responses to deal with the impact of these risks on the operation of the business

Question 6

Succession planning

Answer 6

Identifying and developing people who have the potential to occupy key roles in a business in the future