Business Flexibility is the ability of a business to continue operating in the event of an outage. Considerations for Business Flexibility are multifaceted. It covers, but is not limited to, processes, capacities, behaviors, and systems. For example, Business Flexibility is the capacity of a company to continue to supply products in the event of unforeseen disruptions in its supply chain. Equally, a company's ability to move its data in-house when its main cloud service provider faces a major outage can contribute to that company's level of Business Resilience.
Risk management, sometimes referred to as risk mitigation, is the process of developing a strategy to reduce certain individual risks until the aggregate risk level for an activity is reduced to an acceptable level.
The public cloud is the cloud model offered by cloud service providers, where users share a common infrastructure. This service model reduces the technological workloads of companies on a large scale and offers a flexible infrastructure.
Product lifecycle management refers to the examination of a product as it goes through certain stages of its lifecycle.
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