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In the wake of the recent unforeseen global pandemic, many organizations are thinking about what they have done, what they should have done, and what they need to do in the future in order to maintain normal business operations during times of disaster. Then rank them in order of severity.
The pandemic has disrupted operating models of businesses across the globe. In 2020, we wrote about helping this bank channel chaos into creativity during the early days of the pandemic when there was an influx of PPP loan requests (check out the full story here ). Customer Value Story: Planning for the Unexpected.
Even after a pandemic, endless weather incidents, outages and more, your customers and employees generally will have an “I need it, and I need it NOW” mindset. Sure, policies should be part of the solution to minimize these impacts. Everyone’s expectations of systems and services continue to rise.
In the wake of the recent unforeseen global pandemic, many organizations are thinking about what they have done, what they should have done, and what they need to do in the future in order to maintain normal business operations during times of disaster. Then rank them in order of severity.
These events could be man-made (industrial sabotage, cyber-attacks, workplace violence) or natural disasters (pandemics, hurricanes, floods), etc. BCP Includes Business ImpactAnalysis, Risk Assessment, And Strategy Development. Risk Assessment: 3 Key Starting Points for Effective Business ImpactAnalysis.
Organizations now have to contend with a heightened risk of drought, flooding, heat waves, wildfires, hurricanes, political unrest, global conflict, cyberattack, power outages, active shooters, supply chain disruptions, pandemic, social-media impacts, and all the rest. Artificial intelligence is coming to BC.
A partial list would include: the 9/11 terrorist attacks, the rise of the internet and cell phones, the spread of cybercrime, globalization and the lengthening of supply chains, the COVID pandemic, the growing impact of climate change, growing international tensions, the shortening of attention spans, and the rise in cloud computing.
Cyber attackers know organizations of all sizes have made a lot of operational changes because of the coronavirus pandemic, and they’re taking full advantage of them as new cyber attack vectors. Further, when we look at what’s happened during the pandemic, paired with increased cyber attacks, it paints a clear picture of industry evolution.
By evaluating all of the various types of risks that an incident could bring up – such as financial, reputational, customer, legal or strategic impact – you’re able to adequately determine which steps must be included in your BCP to minimize those impacts. A regional power outage. Abandonment in leadership. Supply chain issues.
Regardless of their nature, weather-related events that cause havoc in our communities, pandemics that can wipe us out, or cyber-related incidents that can potentially shut-down our technology, these events require us to be more resilient. We are faced with many risks that can disrupt our livelihood and can jeopardize our existence.
Regardless of their nature, weather-related events that cause havoc in our communities, pandemics that can wipe us out, or cyber-related incidents that can potentially shut-down our technology, these events require us to be more resilient. Section 4 - Business ImpactAnalysis. 4 – Business ImpactAnalysis.
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