Discuss the critical need business impact analysis for organizations. Research and develop one “weighted” matrix for an organization. The matrix should begin with 5-7 business functions for the organ

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Discuss the critical need business impact analysis for organizations.

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.

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Complete the BIA for an organization of your choosing with a scenario.  Please make investment recommendations for the organization given your BIA matrix.

Discuss the critical need business impact analysis for organizations. Research and develop one “weighted” matrix for an organization. The matrix should begin with 5-7 business functions for the organ
Sample 1: Hello All, Following is my learning. Discuss the critical need business impact analysis for organizations: Definition of Business Impact Analysis: It can be depicted as extremely critical components of any emergency response strategy is a business impact study. It facilitates organizations in defining the important procedures and operations that must be regained as soon as possible in the event of a disaster. It’s complicated to know where to begin in a true emergency. Critical need for BIA can start with the following steps: Determine mission processes and recovery criticality and identify Resource requirements along with recognizing recovery priorit ies for system resources, Next, it would be continuing process, the evaluations are conducted on a regular basis or if a substantial change occurs within the company, . Also, it is a long -term process which needs to deliver clear requirements. A significan t quantitative tool is the weighted decision matrix. Weighted Matrix Definition: It relates a set of options (for example, ideas or projects) to a set of criteria that must be considered. Also , it compares a set of options (for example, ideas or projects) to a set of criteria that must be considered. Research and develop one “weighted” matrix for an organization. S.no Division Revenue % of revenue Profit % of pro fit IFE score 1 US 254000 42 12500 47 3.4 2 International 345000 58 14000 53 3.50 Total 599000 100 26500 100 Internal Factor Evaluation (IFE) total weight score: Strong (3.0 to 4.0) Average (2.0 to 2.99) Weak (1.0 to 1.99) External Factor Evaluat ion (EFE) total weight score: High (3.0 to 4.0) Medium (2.0 to 2.99) Low (1.0 to 1.99) According to the above matrix, amazon is internally strong in well developing environment opportunities. Amazon has grown and builds options as it falls under 3.0 to 4.0 score level which is nothing but Market penetration, product growth in backward, horizontal, forward integration. Also, amazon can pursue market development strategy in terms of approaching new segments and non -serve areas with its products to gain more market shares and new opportunities. Business Impact Analysis for an Organization with investment recommendations for the organization For the BIA to be effective, the company must maintain close contact with management officials, define the scope of the B IA, and identify the subject matter experts who will be involved. In addition, IT representative should be present at each interview to assist with software applications that SME’s may not understand. Also, to perform an efficient BIA in the organization, it is critical to gather appropriate information prior to the interview. Furthermore, document report and transmit it to high management. As a result, these time frames may need to be re -evaluated to fulfill the demands of technological capabilities. There is a gap if the technological capabilities do not meet the needs of the business unit, To conclude, avoid extended outages and organizational damage, these gaps must be closed. Retrieved from: https://www.mindtools.com/pages/article/newTED_03.htm https:// gocardless.com/en -us/guides/posts/how -use -decision -making -matrix/ Sample 2: Hi All, The critical need for a Business Impact Analysis in an organization Business Impact Analysis is an important process or procedure within an organization for a coupl e of reasons. One of the basic reasons is the analysis, evaluation or assessment of the potential threats as well as risks that would get in the way of the business. This is by affecting the vital business processes and operations. The BIA does not only id entify the potential threats or risks, it also performs an assessment or analysis of the identified threats or risks so as to clearly understand the magnitude of these threats or risks on an organization, if they were to take place (Myers, 2011). This give s an organization the ideal scenario thus helping it prepare better on its mitigation measures. This is the key reason as to why Business Impact Analysis has become one of the foundational elements of organizational contingency planning. Example of a weighted matrix for an organization The table below represents a typical weighted matrix that can be used within an organization when it comes to evaluation and decision making. Revenue Impact Profit Impact Brand Impact Segments to pri oritize Weight Rating Weighted score Rating Weighted score Rating Weighted score Process fit 5 1 5 5 25 5 25 Ease of use 4 2 8 2 8 3 12 Service and support 3 3 9 3 9 4 12 Performance 2 4 8 5 10 4 8 Price 1 5 5 5 5 2 2 Total 35 57 59 BIA Example Overview This is a Business Impact Analysis for Tellex Inc. The BIA focuses on the identification and analysis of cyber security threats and risks. The BIA was created on 1 st July 2021. Purpose The primary purpose of the BIA is to assess company IT infrastructure and map out all the risks and threats. This is with the aim of understanding the factors leading to the cyber threats and how these threats or risks can be mitigated. Procedures This BIA will make use of a number of procedures and steps in effecting its key purpose. These steps and procedures will be as follows; • Network and information system vulnerability assessment and penetration tests. • Identification of vital business operations and p rocesses. • Assessment of priority levels on different business processes and operations. • Identification of key business resources and aligning the resources with the business processes. • Impact level assessment and testing on the effectiveness of responses a nd mitigation measures against a threat. Recommendations To ensure that the BIA is effective and would actually help the company in fulfilling the purpose of the BIA, there are a few recommendations to take into consideration. The First is that the company should use the assessment data and information to reinforce its cybersecurity measures and procedures. The formation or creation of any contingency plan for the business should also be based on the BIA assessment results and recommendations. This is to en sure that each and every contingency planning aligns to best interests of the business. Another key recommendation is ensuring that the company implements a good data backup plan for all its data. lastly, it would be of great importance to ensure that the company to have a well -trained incident response team to take care of its incident needs whenever they may rise. References Myers, J. (2011). Business Impact Analysis. [Online]. Retrieved fro mhttps://www.youtube.com/watch?v=VsQ_SA3EIe Y (Links to an external site. ) Swan, E. (n.d.). Weighted Criteria Matrix. Retrieved from https://goleansixsigma.com/weighted -criteria -matrix / (Links to an external site. ) Regards, Vejith

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