6010 Week 2 Discussion

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Wilmington University *

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6010

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Information Systems

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Apr 3, 2024

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 Discuss the critical need business impact analysis for organizations. A company's approach for business continuity planning must include a business impact analysis (BIA). It entails calculating the potential impact of disruptive events on the organization's key operational procedures, practices, and resources. The main objective of a BIA is to prioritize and list the most important tasks for the organization while also determining the procedures and materials required to continue where you left off in the case of an interruption. Companies should perform a business impact analysis for the following reasons: When it comes to recovery efforts, ranking the importance of financial impact analysis, risk assessment, resource allocation, continuity planning, compliance, and regulatory requirements. Organizations now must prioritize recovery activities, distribute resources wisely, identify important operations, assess risks, and consider financial ramifications because of business impact analyses. With it, they can develop comprehensive business continuity plans. By being aware of the potential effects of disruptions, organizations may increase their resilience, reduce downtime, protect their reputation, and ensure the continuity of their operations even in the face of unanticipated calamities.  Research and develop one “weighted” matrix for an organization. The matrix should begin with 5-7 business functions for the organization. Considerations for the BIA should include revenue impact, profit impact and brand impact. To create a weighted matrix for an organization's business operations, we will employ the three essential components for the Business Impact Analysis (BIA): revenue impact, profit impact, and brand effect. As an example of a weighted matrix, consider the following: In this example, every business decision is taken after considering the company's reputation, earnings, and profitability. Impact levels can be divided into three groups: high, moderate, and low. The weighted score is determined by considering the relative importance of each impact category to the organization. The weights assigned to each area are arbitrary and could change depending on the priorities of the organization and the industry. Business Function Revenue Impact Profit Impact Brand Impact Weighted Score Sales and Marketing High High High 9 Operations Moderate Moderate Moderate 7 Customer Service Moderate Moderate High 8 Research and Development Moderate High Moderate 7 IT and Technology High High Moderate 8

Finance and Accounting Moderate High Moderate 7 Supply Chain and Logistics High Moderate Moderate 7 Organizations can rank their business functions based on their overall impact using this weighted matrix. The weighted score rises in proportion to how crucial a function is to revenue, profit, and brand. In the event of a disruption or tragedy, this knowledge may affect decision-making, resource allocation, and recovery planning.  Complete the BIA for an organization of your choosing with a scenario. Please make investment recommendations for the organization given your BIA matrix. Business: AstraZeneca AstraZeneca is a global pharmaceutical company that focuses on developing, producing, and performing research on novel medications. A cyberattack disclosed sensitive consumer and patient data in detail. The attack influences the business' operations and reputation, and it could have legal and regulatory repercussions. According to the BIA, every business function at AstraZeneca is crucial and has a significant impact on sales, earnings, and the company's reputation, particularly in the event of a cybersecurity incursion. Business Function Revenue Impact Profit Impact Brand Impact Research and Development High High High Manufacturing and Production High High High Sales and Marketing High High High Supply Chain and Logistics High High High IT and Technology High High High Regulatory Compliance High High High

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