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.
IT Business Continuity. Business Continuity refers to an organization's ability to keep vital business operations running at or near normal capacities in the event of infrastructure failure. These failures can be caused by human errors, power failures, application errors and a host of others that impact the ability of the infrastructure to properly support the organization. When speaking of Business Continuity the majority of the infrastructure remains in place and functional which is in contrast to Disaster Recovery.