• Business Plans
    • Business Plan for Investors
    • Bank/SBA Business Plan
    • Strategic/Operational Business Plan
    • Immigration Business Plan
      • L1 Visa Business Plan
      • E1 Treaty Trader Visa Business Plan
      • E2 Treaty Investor Visa Business Plan
      • EB-1 Business Plan
      • EB-2 NIW Business Plan
      • EB-5 Business Plan
      • Innovator Visa Business Plan
      • UK Start-Up Visa Business Plan
      • Manitoba MPNP Visa Business Plan
      • Start-Up Visa Business Plan
      • Nova Scotia NSNP Visa Business Plan
      • British Columbia BC PNP Visa Business Plan
      • Self-Employed Visa Business Plan
      • OINP Entrepreneur Stream Business Plan
      • LMIA Owner Operator Business Plan
      • ICT Work Permit Business Plan
      • LMIA Mobility Program – C11 Entrepreneur Business Plan
      • USMCA (ex-NAFTA) Business Plan
    • Franchise Business Plan
    • Landlord business plan
    • Nonprofit Start-Up Business Plan
    • Other Business Plans
      • Cannabis business plan
      • Ecommerce business plan
      • Online boutique business plan
      • Mobile application business plan
      • Daycare business plan
      • Restaurant business plan
      • Food delivery business plan
      • Real estate business plan
  • Services
    • Business Continuity Plan
    • Pitch Deck
    • Buy Side Due Diligence Services
    • ICO whitepaper
    • ICO consulting services
    • Confidential Information Memorandum
    • Private Placement Memorandum
    • Feasibility study
  • How it works
  • About us
  • Business Plan
    Examples
  • Contact Us
+1-619-7275304
Need a business plan? Call now:+1-619-7275304
Talk to our experts:
  • Business Plans
    • Business Plan for Investors
    • Bank/SBA Business Plan
    • Strategic/Operational Business Plan
    • Immigration Business Plan
      • L1 Visa Business Plan
      • E1 Treaty Trader Visa Business Plan
      • E2 Treaty Investor Visa Business Plan
      • EB-1 Business Plan
      • EB-2 NIW Business Plan
      • EB-5 Business Plan
      • Innovator Visa Business Plan
      • UK Start-Up Visa Business Plan
      • Manitoba MPNP Visa Business Plan
      • Start-Up Visa Business Plan
      • Nova Scotia NSNP Visa Business Plan
      • British Columbia BC PNP Visa Business Plan
      • Self-Employed Visa Business Plan
      • OINP Entrepreneur Stream Business Plan
      • LMIA Owner Operator Business Plan
      • ICT Work Permit Business Plan
      • LMIA Mobility Program – C11 Entrepreneur Business Plan
      • USMCA (ex-NAFTA) Business Plan
    • Franchise Business Plan
    • Landlord business plan
    • Nonprofit Start-Up Business Plan
    • Other Business Plans
      • Cannabis business plan
      • Ecommerce business plan
      • Online boutique business plan
      • Mobile application business plan
      • Daycare business plan
      • Restaurant business plan
      • Food delivery business plan
      • Real estate business plan
  • Services
    • Business Continuity Plan
    • Pitch Deck
    • Buy Side Due Diligence Services
    • ICO whitepaper
    • ICO consulting services
    • Confidential Information Memorandum
    • Private Placement Memorandum
    • Feasibility study
  • How it works
  • About us
  • Business Plan
    Examples
  • Contact Us
Place the order
logo logo
Menu
CALL NOW:+1-619-7275304
  1. HOME
  2. Blog
  3. COVID-19 Business Continuity Plan

MAY.05, 2020

COVID-19 Business Continuity Plan

(4 votes, average: 5.00 out of 5)
Loading...
Blogs General Business Plans
COVID-19 Business Continuity Plan

Share:

Table of Content

    There is no denying that the COVID-19 pandemic has presented the world with some serious threats.  According to the World Health Organization, the total number of coronavirus cases has surpassed 110,000.  Estimating when the effects of this epidemic will subside is difficult.

    Meanwhile, the world is experiencing terrible economic effects as a result of the pandemic. Whether it is a disruption in the supply chain, trouble in business travel, or maintaining social distancing, the situation seems out of hand and is forcing companies of every size to dust off their business continuity playbook.

    That is to say, smart leaders and executives need to think beyond a definition for a simple business plan.  They must focus on adapting to their business continuity plan to not only protect their employees but also to stabilize the business and serve customers.

    Here, we have outlined some necessary components essential for business continuity during and after the pandemic.

    Start your Business Plan Now
    Start My Business Plan
    Start your Business Plan Now

    Components of Business Continuity Plan for Pandemic

    Put Your Employees First- Safety and Engagement

    As mentioned above, the core purpose of a business resilience plan lies within the well- being and the health of your staff and employees. In this challenging time, employees are expecting their leaders and government to address their problems by not only engaging them but also implementing a contingency plan to help them face this catastrophe.

    Strategic/Operational Business Plan
    This deliverable will contain a business development road map that will help the company achieve its goals and become a market leader.

    One of the best ways to do it is to make adjustments in the work schedule or incorporate flexible work policies and arrangements so that employees can work remotely. Plus, to make continuity plan COVID-19 work, businesses and companies can reallocate resources, reorganize teams, and, most importantly, establish policies that support employees’ well being.

    Moreover, businesses, considering the risks, can maintain regular communication with the health authorities to align with their policies and navigate through this crisis.

    Reconstruct Strategies for Business Continuity

    Reshaping strategies is vital to ensure business continuity. Businesses are going through a significant disruption, whether it is about operational efficiency, staff shortage, stock market crash, or business underperformance due to the COVID-19 crisis. Plus, the supply chain crisis and challenges have spread from China to the US and Europe. There is a dramatic shift in consumer demands in all sectors, including automotive, manufacturing, and retail.

    A business continuity plan for a pandemic is a must to face the challenges. Companies can incorporate the following strategies.

    • Evaluate operational and financial risks to prevent the repercussions of an economic downturn. To do that, companies need to keep an eye on cost escalation and its impact on renegotiating new terms and product margins. This will help them come up with a better COVID-19 contingency plan and keep up the financial stress to prevent long-term implications.

    Moreover, it is also crucial for companies to scrutinize in-house pressure and vulnerabilities that may have an impact on potential customers, suppliers, and alliance partners.

    • Determine the effects of COVID-19 on the business plan and its budgets. Stress-testing the financial plans and strategies for different scenarios is critical to assess its potential impact on business performance. If a company’s budget or business plan is irrelevant to meet the needs of current and future scenarios, the executive must modify them to stay in the race.
    • Evaluate cash-flow pressure through testing short-term liquidity. Instilling short-term cash-flow to predict intervening factors is one way to do that. Plus, it is important to maintain the discipline to manage inventory buildup and receivables.

    Maintain Communication with Stakeholders

    No business or company can craft a business resilience plan unless it takes the relevant stakeholders into account.  Transparent communication at the right time can play an essential role in reshaping business strategies and securing on-going support from regulatory authorities and potential investors and customers. For instance,

    • If a business is not able to meet contractual obligations due to production disruption, it must take proactive actions like revisiting timelines or communicating this to customers before time. It will help businesses mitigate risks of punitive liabilities that come with disrupted customer obligation.
    • Make sure to review current terms on business loans to not only identify debts but also to avoid major technical breaches. It is a great way to communicate with investors and stakeholders about critical refinancing terms and amendments.

    Switching to Ecommerce- A Recovery Plan to Strengthen Business

    Stay-in-place orders by government and social-distancing measures have led businesses to move their functions and the entire workforce to a new platform.  Put simply, ideas like online business and “work from home” are skyrocketing and have become an integral part of the COVID-19 business continuity plan.

    Note

    Many businesses are using all their avenues to provide their customers with an online service.  Fitness studios, for example, are taking advantage of online classes to make adjustments in their business contingency plan.  Similarly, retailers are selling online to expand their reach to the customers and adapt to a new service plan.

    Moreover, businesses like spas and restaurants can also modify their offerings by delivering their products or services online.  It will not only enable businesses to increase their rapport and stabilize cash-flow but also improve brand loyalty. That means serving online is a global service model that you can incorporate into your business contingency plan.

    By switching to eCommerce, businesses can strive in a pandemic-induced economic crisis. Whether it is delivery services or online classes, crafting a business contingency plan with a revamped approach can help it emerge stronger during and after the pandemic.

    OGS Capital Can Revamp Your Business Continuity Plan

    At OGS Capital, we believe a preemptive business planning always goes a long way. A comprehensive business continuity plan not only helps protect the company’s core assets during an outbreak, but also preserves peace of mind for leaders, entrepreneurs, and employees.

    Although no business plan guarantees full resumption of operations, making a robust framework for responding to deadly crises like COVID-19 helps a team handle disruption and nuances to business operations.

    This is where OGS’s competent business consultants play their role. They help you create a plan that targets your business needs and enables your company to hold its ground during and after a pandemic like COVID-19.

    We are available 24/7. Give us a call or fill the form below to improve your business continuity plan before it’s too late.

    Illustrative business plan samples

    OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

    Pitch Deck Sport Wear
    Subway Franchise Business Plan
    Maeme’s Franchise Business Plan
    Franchise Business Plan
    E2 Visa Business Plan (USA)
    L1 Visa Business Plan (USA)
    Pitch Deck Marketing Agency
    Lamp Business Plan for Bank Loan
    E1 Visa Business Plan (USA)
    Self-Employed Visa Business Plan (Canada)
    British Columbia BC PNP Visa Business Concept (Canada)
    British Columbia BC PNP Visa Business Plan
    Nova Scotia NSNP Visa Business Plan (Canada)
    Manitoba MPNP Visa Business Plan (Canada)
    Logistics
    Export/Import
    Jazz Bar
    Mobile App
    Taxi
    Hospital
    Real Estate
    Get an OGS Customized Business Plan Get a TS Business Plan Template
    To start a conversation with our team, fill in the form.

    A business plan consultant with relevant expertise will contact you shortly.

    OGS Capital

    OGScapital – Serving you with offices in the USA, the United Kingdom, and Canada.

    phone:

    +1-619-7275304

    email:

    [email protected]

    OGS Capital on Facebook

    Our Business Plans

    Business Plan for Investors

    Bank/SBA Business Plan

    Strategic/Operational Business Plan

    Immigration Business Plan

    ALL BPs
    Our services

    Business Continuity Plan

    Pitch Deck

    Buy Side Due Diligence Services

    ICO whitepaper

    ICO consulting services

    ALL SERVICES

    AUTHOR:

    Shawn Jensen

    Add comment

    Rating

    E-mail is already registered on the site. Please use the Login form or enter another.

    You entered an incorrect username or password

    Sorry that something went wrong, repeat again!

    Comments (0)

    by Newest
    by Best by Newest by Oldest
    To start a conversation with our team, fill in the form.

    A business plan consultant with relevant expertise will contact you shortly.

    See also
    Financial Feasibility Study: How to Ensure Your Business Project’s Success
    JAN, 19 ∙ 2023
    Hotel Feasibility Study: Maximizing Revenue And Growth
    JAN, 09 ∙ 2023
    Real Estate Feasibility Study: The Key to Successful Property Development
    DEC, 31 ∙ 2022
    Feasibility Studies: The Essential Tool for Making Informed Business Decisions
    DEC, 20 ∙ 2022
    How to Write a Private Placement Memorandum (PPM)
    DEC, 20 ∙ 2022
    United States–Mexico–Canada Agreement (USMCA) or (NAFTA 2.0) Business Plan
    OCT, 12 ∙ 2022
    Ontario Immigrant OINP Entrepreneur Stream Business Plan
    SEP, 22 ∙ 2022
    LMIA International Mobility Program C11 Business Plan
    SEP, 14 ∙ 2022
    Intra-Company Transfer (ICT) Work Permit Business Plan
    SEP, 14 ∙ 2022
    How Much Does Сost of a Business Plan?
    AUG, 27 ∙ 2020
    Any questions? Get in Touch!
    We have been

    mentioned in the press:

    logo

    Search the site:

    Get Your Free Consultation
    Download Business Plan Samples
    Fill the Form and we will revert to you ASAP
    • Home
    • About us
    • Blog
    • F.A.Q.
    • Contact Us
    Become a partner
    +1-619-7275304 +44-203-3181069 +1-613-6997822 +353-152-66606 +61-385-956735
    Business Plans
    • Business Plan for Investors
    • Bank/SBA Business Plan
    • Strategic/Operational Business Plan
    • Immigration Business Plan
    • Franchise Business Plan
    • Landlord business plan
    • Nonprofit Start-Up Business Plan
    Services
    • Business Continuity Plan
    • Pitch Deck
    • Buy Side Due Diligence Services
    • ICO consulting services
    • ICO whitepaper

    [email protected]

    © 2023 OGS Capital
    Privacy |
     
    logo

    OGScapital website is not supported for your current browser.
    Please use:

    Firefox Opera Chrome Egde
    Get A Free Consultation!
    [email protected] +1-619-7275304