How Chinese Corporations Are Going Global?
China has seen rapid development in the past two or three decades. It has become the export powerhouse of the world. However, Chinese companies were always considered to be the cheap imitators. Chinese companies were earlier contractors for American and European countries who provided cheap labor to assemble their high tech products. However, this has […]
Selecting Critical Business Process for BPI Projects
Using Business Process Improvement as a tool to improve internal efficiencies and to bring about the desired changes in business operations has become an accepted practice in most of the Organizations. At a time where the life cycle of products and businesses is becoming shorter and fast changing in line with changes in technology and […]
Production Module – Production Planning and Control
To support the need to reduce cost and time to market, greater emphasis is needed to control shop floor activities. Well-organized manufacturing process, resulting elimination of bottleneck and waste, necessitates greater reliance upon flexible and user friendly production planning and control system. The planning engine of an ERP system, through closed loop MRP/MRP II capability, […]
Wage Increases and Tax Cuts
Recently the Dow Jones index faced a drastic fall. This fall was partly because of the fears of inflation that were sparked by increasing employee wages. This is because employee wages have been stagnant in America for close to a decade now. The drastic short-term rise was attributed by many to be the result of […]
Quantitative Techniques for Decision Making
Introduction Decision making is crucial for survival of business. Businesses have to make decision considering the limited amount of information. Decision making problems are divided into two types deterministic and probabilistic. Deterministic model of problem solving depends on the relationship between uncontrollable factors and continuing process of optimizing system performance. A model is developed in […]
Organizations in current times are competing in a global market where time and distance have no meaning. Competition being intense, companies have got to ensure that they delivery top line performance all the time and not risk any kind of failures. Disaster Recovery and Business Continuity planning concept has come of age in the new world.
The concepts of risk analysis and mitigation are relevant to all areas of business and scales of organizations. However the concept has gained ground more in the IT and service industry where in the risk of failure of IT systems can be disastrous for the company.
Every Organization big or small engages in a lot of IT systems and Communication tools. From desktops, laptops, servers to all sorts of other peripheral equipments, softwares, applications, databases as well as extensive Email and communication networks make up the operational backbone of each and every company. The data that the Companies have in their system including customer details, financial data as well as other operational data including sales, purchase, inventory and other operations is invaluable. Any loss of data can seriously hamper the business operations and cause huge losses to the Organization.
IT systems are known to possess very high risk of failure. The causes of systems failures can be many. The equipments being highly sensitive to power fluctuations, any disruption or fluctuation of power can cause damage or destroy the data. Imagine a bank loosing the data of the transactions in their accounts. Imagine an Organization losing its financial data. These are unthinkable but probable.
IT systems can fall prey to several categories of risks. Some of the common areas of disaster are:
Apart from the above, there can be several and many more risks that are associated with IT systems failures. Of the above, the power related failures and the over dependence upon outsourced vendors and manpower happen to be the most common occurrence events resulting in loss of data in Organizations. In many organizations there seems to be a general lack of seriousness in planning and keeping regular backups in place.
Whatever be the nature of the risk or occurrence, the data loss can create major impact on the business of the Organization. Companies like credit card companies, banks and other service organizations cannot afford to lose any data. Therefore protecting their data calls for adequate investments in protection methods as well as in planning and maintaining a good Disaster Recovery backup plan.
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