Business Continuity Program

[Name of the Institute]

Business Continuity Program

Introduction

The business continuity plan is defined as the strategy developed by an organization to safeguard itself from several risk factors. In the contemporary business environment the progress of the corporate sector has occurred at an extremely fast pace. Ion this scenario it is important that the companies that are expanding their operational functions, also highlight the relevant risks involved. This process would allow these companies to safeguard their operational objectives and enhance their business operations (Cerullo& Cerullo, 2004). As the companies have operational interests at numerous sites on the global platform, they also face a continuous risk of disruptions due to various factors. There can be several natural or even other dilemmas that negatively impact the operations of a company. If these situations are not resolved on a timely basis, the company can face serious economic repercussions. The disruption in the current highly competitive business environment can essentially allow the numerous competitors to take advantage. Hence it is important that the company develops a significant continuity program, which enables it to cope with such phenomenon with an effective strategy.

The Westfield Group is an Australian shopping centre group undertaking ownership, development, design, construction, funds/asset management, property management, leasing, and marketing activities (Savage, 2002). The Australian based company deals with some of the largest shopping centre portfolios, with relevant investments in shopping centers in the leading global customer markets. The strategy of the company is to develop a comprehensive global operational capacity, through which it can enhance its brand value. In this objective the company requires a conclusive business continuity plan, which can help enhance the security of its various global projects.

Discussion

The Westfield Group 'Milan Project'

The Westfield Group had developed significant plans by 2011, to enter the continental European market and enhance its business functions. The company had attained the 50% rights to develop a large scale center near the airport, in Milan. Italy has an iconic brand image as the global leader in eth fashion industry, and this project is planned to highlight this factor. This will be one of the most impressive shopping structures to be built in the continental European region. The project would take place as a joint venture between the Italian retain brand group Gruppo Stile and the company itself. The mega project is planned to be finished by the year 2015, so that it could be ready in time of the iconic Milan World Expo. This project which initiates I the year 2013, can be identified as one of eth biggest projects that the company has undertaken in the recent past, and will drastically enhance the operational presence in eth continental European market.

However in any large scale project there are a wide range of risks which the management has to critically analyze. Considering the significance and eth scale of the project, it is important that a detailed and comprehensive business continuity plan has to be established. Te Company has to focus on several pre and post development factors, ...