Answer:
*To minimize financial loss to the institution
* Continue to serve customers and financial market participants
* Mitigate the negative effects disruptions can have on an institution's strategic plans, reputation, operations, liquidity, credit quality, market.
* Ease confusion by providing written procedures and participation in drills
Explanation:
Business continuity planning (BCP) can be described or is known as the process, involved in creating a system of prevention and recovery from potential threats to a company. The plan ensures that personnel and assets are protected and are able to function quickly in the event of a disaster.
It should be understood that, a business continuity plan outlines procedures and instructions an organization must follow in the face of such disasters. This include business processes, assets, human resources, business partners and more
In conclusion, the main goals of a business continuity plan are to improve responsiveness by the employees in different situations, ease confusion by providing written procedures and participation in drills and help ensure logical decisions are made during a crisis.
