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Alternative Market Briefing

Other Voices: Pandemic response: Coronavirus & business continuity planning

Monday, February 17, 2020

By Eze Castle Integration: With the recent outbreak of coronavirus, businesses and alternative investment firms are enacting pandemic response plans in an effort to keep their day-to-day operations running smoothly and without major disruptions due to staffing issues. According to the World Health Organization, those living or traveling in the areas affected are most at risk for contracting the illness. Coronavirus is currently circulating in China, and those affected in other locations either contracted the illness after recent travel to China or close contact with someone who recently traveled to the area.

Developing a pandemic response and business continuity plan is essential for any type of disaster - especially for businesses where zero downtime is critical.

We've outlined six key steps firms should take to ensure their businesses remain at peak performance during disastrous times:

Begin response procedures BEFORE a disaster strikes.

Organizational resiliency starts by strengthening your organization during normal business operations prior to a disaster such as a pandemic. It should not take a disaster to compel your firm to evaluate its business continuity and response processes. One should be in place long before disasters strike.

Identify who will serve as crisis leaders and be in charge of handling situational changes that may occur, including communication to other employees about response procedures and alternative site locations. Al......................

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