So the place to begin defining your disaster recovery plan is not in the server room but rather out among the business units. For example, maybe you work for a financial institution that has to comply with Sarbanes_Oxley, HIPAA or PATRIOT Act regulations. Information availability is required under all conditions, including routine back_up. Fines for non_compliance and damage to reputation for failure to comply are huge. Or Your organization manufactures precision electronic components and your ERP and inventory management systems must be operational during the week. Downtime costs you /hour. However, routine maintenance can be performed during the week. Or Your company processes a high volume of data entry, fulfillment processing and shipping operations around the clock. Downtime has been calculated to be ผ꺜 per hour.
Perhaps the most powerful illustration of succession's importance inside the family firm is the staggering number of family businesses that plan to hand over control to the next generation in the short_term. For instance, in the US alone, 40% of family business CEO's are planning to transfer power to the next generation within the next 5 years. When viewed in combination with the factors surrounding succession, this statistic truly represents the importance of the succession process not only within the firm, but also on a macroeconomic level_family_owned businesses have served as the backbone of society since the times of the ancient Greeks.