Video: Business Resiliency, Disaster Recovery, and Business Continuity Plans

In this lesson, get ready to power through the essentials of making sure your business can stand tall against any disaster with Nick Palazzolo, CPA. Watch as he breaks down the key concepts of business resiliency, disaster recovery, and business continuity plans with an engaging and lively discussion. Nick dives into the importance of preparing for unforeseeable harms like cyber attacks, natural calamities, or market upheavals, ensuring that operations can keep running smoothly no matter the disruption. He also explains different strategies for disaster-proofing organizations, including proactive measures like diversifying supply chains, building redundant systems, and harnessing a culture capable of adapting to new challenges. Discover practical insights on how integrated plans can keep your IT infrastructure and business operations agile and resilient, enabling swift recoveries and the continuation of core functions in times of crisis.

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Video Transcript

Instructor: Nick Palazzolo

Nick Palazzolo is head instructor of ExamPrep.ai CPA Review. Nick's teaching style is engaging & upbeat, combining practical Big 4 tax & assurance expertise with years of 1-on-1 coaching. His lessons are concise and emphasize what you need to know to pass. Whether you're a recent grad or working full-time, we’re confident you can conquer your CPA exams with Nick’s review.

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All right, I'm getting amped. I'm having a good time. I hope you're having a good time as well. Make sure you get some pushups, go for a run. I'm just getting super hyper. Had my coffee this morning. We are recording. We are going in the realm of organizational management, business resiliency, disaster recovery, and business continuity plans. So again, essentially just making sure your business is available. And I know that doesn't really sound normal, but I'm just using the word of the title of the lesson, making sure your operations are available to operate. All crucial components, right? To make sure that you are not going to be disrupted. Each of these plans serves a specific purpose, key considerations. Let's talk about them. But first off, business resiliency. Now, this is going to encompass the overall ability of an organization to withstand and recover from unexpected events, such as natural disasters, cyber attacks, or market disruptions. It's a broad concept that includes disaster recovery and business continuity as components. Now, to be serious for a second, think back to, unfortunately, during 9-11, there were obviously absolute horrible, awful disaster in terms of the human toll. But in terms of companies, whole companies were wiped out as a result of the attacks if they didn't have proper backups, right? If you have everything in one location and that building gets destroyed, your entire business is gone. It's over. It's done. Even if it was incredibly successful, even if it was just very profitable, it's completely gone. So just another thing, right? Cyber attacks as well. It doesn't have to be a hurricane. It doesn't have to be a physical attack. It could also be a cyber attack that completely ruins an entire business. So just keep that in

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