Looking beyond BRICS for the Next Economic Hotspots
Looking Beyond BRICS: The MINT Grouping The BRICS or the acronym given to the grouping of Brazil, Russia, India, China, and South Africa in so far as promising economic growth is concerned, has now reached a stage where global investors are on the lookout for the next emerging economic hotspots. Indeed, for much of the […]
The Economics of Drug Prohibition
Drugs have been a moral menace to many societies for many years. Right from the time, the British East India Company corrupted an entire Chinese generation to the modern world where this epidemic is destroying South American nations, the curse of drugs is causing mayhem. This has led many governments in the past as well […]
Six Sigma Project Team Members
The actual work done in a Six Sigma project is done by the members involved. The Project Lead, Finance Certifier, Project Coach are all planning and enabling the team members to work in some way. Since the Project Team is usually a heterogeneous mix of people from different departments, there is no uniformity in the […]
Why are Companies Constantly Upgrading their ERP Systems?
Enterprise Resource Planning (ERP) is the lifeblood of any business today. Any business, be it a medium scale enterprise or a multinational corporation relies extensively on the use of Enterprise Resource planning systems. This is the reason why these systems tend to be very expensive. There are mega-corporations like SAP and Oracle, which make billions […]
Viking Economics
The Vikings were some of the most brutal people that the world has ever seen. The nations that they built were carved out of violence. However, their descendants have turned out to be the most caring and civilized people on the planet. Today, the Scandinavian way of life is a role model for the rest […]
Imagine that you are running a small scale organization and have been in business for over five years. You have managed to streamline all processes online including purchasing, payroll, invoicing and accounting etc. It is quite likely that you will not have paid any thought to taking backup of your data on systems. Even if you have done so for a while, you may not have invested on buying an external hard disk or drive to store the backup data. In such situation, if your hard disk crashes and your IT service provider tells you that he is not able to recover the data for you, you will have lost all of the valuable data concerning your business for the last five years and the loss is irreplaceable. This happens in many places including medium and large scale organizations too.
This is where the concept of disaster recovery comes into place. Any disaster can threaten your assets including systems. The causes may be natural, manmade or accidental. The consequences of loss can be disastrous for the business. To avoid such situations, one needs to adapt good Disaster Management practice in place.
The practice of Disaster Management and Recovery solutions has largely been adapted by the IT and technology companies which are susceptible to disasters and which have critical applications supporting their business as well as their customer’s businesses. However this concept is not limited to just the IT Companies alone.
Disaster Management and Disaster Recovery focus on drawing up a methodical and detailed plan that anticipates possible risks, disasters and events and outlines action first to protect the systems and assets and secondly to recover the functions as fast as possible. A good Disaster Management plan will include all products and systems related to technology including voice and data communication systems, software, data and hardware as well as the various IT hardware, software and databases, servers etc.
Businesses like banking, credit cards, airlines and other critical systems cannot afford any disruption of services as well as loss of data, the result of which can be disastrous for the businesses. All such companies are known to invest heavily into establishing and managing offshore data backup and recovery centers or at alternate sites. Such companies ensure that they have a fool proof data backup system that is functional at all times.
Often one finds that the cost of setting up a Disaster Recovery plan in place can be as expensive as setting up complete operations. However if the systems are highly critical to running the business like credit card companies and banks, they would have no option but to invest on the recovery centers.
At this juncture it is important to note that Disaster Recovery and Business Continuity are not one and the same. Though the objective is similar, there is a slight variation between the two. In the event of a disaster striking the site, Disaster Recovery aims at recovering assets, systems, data and other things and getting operations back to normal. However Business continuity focuses on getting the entire business operations or at least practical operations back on its feet in the event of a disaster.
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