An Effective Business Continuity Planning and Financing

Climate change is making meteorological disasters more serious, and complex and cascading disasters are causing great human and economic damage. New risks such as COVID-19 and cyberattacks are emerging. In such a society, complex and cascading unpredictable disasters are likely to occur in the near future. Currently, countries, regions and companies have made scenario-based preparations based on experience, but a series of events made it difficult for them to respond if they exceeded expectations. In order to respond to such unexpected events, it is desirable to develop response procedures and strategies for each management resource that becomes unavailable based on the outcome of the event rather than the cause of the event. This all-hazards approach is discussed in the chapter. It also suggests the effects of prefinance in risk management and a new style of BCP.